This unique and fascinating book illustrates that the ‘credit crunch’ and the ensuing financial and economic crisis of 2007–2009 did not only strike hard at the economy in the Western world, but also at its policymakers, at economics as a scientific discipline and, more...

We test whether the two key EU and euro area economic governance pillars, the Stability and Growth Pact and the Lisbon Strategy, have had any impact on macroeconomic outcomes. We test this proposition on a panel of 27, some of which are non-EU (control group) using a programme evaluation...

"We document a strong co-movement between the VIX, the stock market option-based implied volatility, and monetary policy. We decompose the VIX into two components, a proxy for risk aversion and expected stock market volatility ("uncertainty"), and analyze their dynamic interactions with monetary...