Movement in China’s money supply is shown to drive the movement in world money supply over the last twenty years. Structural shocks to G3 (U.S., Eurozone and Japan) real M2 and to China’s real M2 are both large over 1996:1-2011:12. The cumulative impact of real G3 M2 shocks on real oil...

The article discusses relevant theories concerning economic political integration within the political system of the European Union which today is far the most important regulatory framework for businesses of the EU. In conclusion, the article suggests a so-called social constructivist rational...

The purpose of this paper is solely to address two interlinked methodological and theoretical questions concerning the Open Method of Coordination (OMC), using the European Employment Strategy as a case: First, what is the most appropriate approach to learning in the analyses of the processes of...

In spite of the exponentially increasing volume of the CDM system of the Kyoto Protocol, very few have so far come up with scholarly political economy analysis of its governance system. Based on interviews with the CDM system’s main stakeholders as well as through scrutiny of CDM related...

Mutual learning among the Member States is the primary purpose of the employment policy of the European Union. The two most important questions in this regard are how learning occurs and how much learning takes place. In this article I argue that the existing analyses of the effects of learning...

The purpose of this paper is to address two normative and interlinked methodological and theoretical questions concerning the Open Method of Coordination (OMC): First, what is the most appropriate approach to learning in the analyses of the processes of the European Employment Strategy (EES)?...

Hamilton identifies 1973 to 1996 as “the age of OPEC” and 1997 to the present as “a new industrial age.” During 1974-1996 growth in non-OPEC oil production Granger causes growth in OPEC oil production. OPEC oil production decreases significantly with positive shocks to non-OPEC oil...

This paper investigates the relationship between oil prices and the global economy. In modelling this relationship, a new approach is proposed in which we introduce the use of a factor error correction model to compress data from the largest developed and developing economies. An important...

This paper investigates the influence of liquidity shocks in China on the U.S. economy over 1996-2012. The influence on the U.S. is through China’s influence on demand for imports, particularly that of commodities. In all models estimated a positive innovation in China’s liquidity is...