Europe’s monetary union is part of a broader process of integration that started in the aftermath of World War II. In this “political guide for economists” we look at the creation of the euro within the bigger picture of European integration. How and why were European institutions...

Europe has changed, the world has changed. The 21st century brings new challenges and new opportunities. The interaction of economies and peoples worldwide – whether by communication, trade, migration, shared security, concerns or cultural exchange – is in constant evolution. In such a...

The path from command to market economics in Romania has been marked by two decisive conceptual clarifications at international scale, from the 1989 Washington Consensus to the 2000 Lisbon Agenda. In both cases, it was about a "how-to" policy list supposedly conducive to better economic...

In this paper I try to refute the thesis that European integration – the way the European states embarked upon with the creation of The European Coal and Steel Community – was indispensable for the preservation of peace among the continent’s nations. The main line of argument is that,...

We estimate the Feldstein-Horioka equation for the period 1960-2012 and find structural breaks that coincide with the introduction of the European single market in 1993, the introduction of the euro in 1999 and the financial crisis in 2008. The results suggest that the correlation between...

This paper discusses the process of European institutional integration from a political-economy perspective, linking the long-standing political debate on the nature of the European project to the recent economic literature on political integration and disintegration. First, we introduce the...

We estimate spillover effects of a fiscal shock in one member country in the euro area on outputs of the rest of the members, using a Global Vector Autoregression (GVAR) model. We compare the effects of a domestic fiscal shock with those of a similar size area-wide shock expressed as a weighted...