This paper examines the design of macroeconomic policies after Central and Eastern European countries (CEECs) have joined the EU. We consider scenarios with and without CEECs being members of the European Economic and Monetary Union (EMU) and analyze consequences of different intermediate...

In order to analyze successful strategies for economic policy in a global environment both international interdependencies and the strategic behavior of “global players†must be considered. We use a global model of the world economy (the MSG2 Model) to show the effects of dynamic...

Sustainability of public deficit and debt in the long run has received much attention in the international political agenda. This paper analyses whether Austrian fiscal policies have been sustainable during the last five decades. Tests indicate that Austrian fiscal policies were sustainable from...