Ungarn hofft, zum Ende der 90er Jahre der Europäischen Union beitreten zu können. Es werden die Kriterien der EU für einen Beitritt analysiert und die Fähigkeit Ungarns unterucht, diese Kriterien zu erfüllen. Die Aufgaben im Hinblick auf die langfristige Entwicklung des Landes sowie mit...

We analyze the conduct of fiscal policy in a financially integrated union in the presence of financial frictions. Frictions create a wedge between the return to investment and the union interest rate. This leads to an over-spending externality. While the social cost of spending is the return to...

This paper presents a framework to understand and measure the effects of political borders on economic growth and per capita income levels. We present a model providing a theoretical foundation to estimate empirically the effects of political borders on growth. In our model, political...

We model an international union as a group of countries deciding together the provision of certain public goods and policies because of spillovers. The countries are heterogeneous either in preferences and/or in economic fundamentals. The trade off between the benefits of coordination and the...