With air transport becoming an increasingly vital part of the economy, the regulatory reform of this market has been a major development in European political economy. This book focuses on two market failures within the airline industry - market power and environmental externalities - and...

This book explores the great challenge of increasing the scope of intermodal freight transport. In view of the current dominant role of road transport and the increasing difficulties in coping with a growing number of vehicles in an efficient and sustainable way, intermodal freight transport...

This timely book deals with the problem of pricing passenger and freight transportation within Europe. The contributors argue that current legislation affecting pricing and regulation is increasingly less successful in dealing with market failures and externalities such as congestion, air...

The current crisis calls for two main sets of policy measures. First, measures to repair the financial system. Second, measures to increase demand and restore confidence. While some of these measures overlap, the focus of this note is on the second set of policies, and more specifically, given...

The great moderation lulled macroeconomists and policymakers alike in the belief that we knew how to conduct macroeconomic policy. The crisis clearly forces us to question that assessment. In this paper, we review the main elements of the pre-crisis consensus, we identify where we were wrong and...

This paper contributes to the current debate on what role financial stability considerations should play in monetary policy decision and how best to integrate macro-prudential and monetary policy frameworks. The paper broadly supports the view that monetary policy easing induces greater...