This study grounds the establishment of EMU and the euro in the context of the history of international monetary cooperation and of monetary unions, above all in the U.S., Germany and Italy. The purpose of national monetary unions was to reduce transactions costs of multiple currencies and...

In this paper, based on the experience of ten European countries, we study the relevance of seigniorage revenues in the recent past, and we speculate about their importance in the near future. We find that the members of the European community differ widely in the way they manage monetary...

During COVID-19 lockdowns it became visible that migrants are often important in sectors that are crucial for the functioning of everyday life. Informed by this experience, this note provides an assessment of the role of foreign-born workers in essential services (referred to as migrant key...

This paper documents the effects of exchange rates and the external constraint during the interwar years. In the absence of international policy coordination, exchange rate depreciation is shown to have been a necessary precondition for the adoption of policies promoting recovery from the Great...

This paper considers the impact of social entrepreneurship in European communities, finding that working with such enterprises and helping them develop can result in widespread gains for public budgets. Starting and running such a business can pose a number of problems though, as it must not...