The lesson from previous episodes of trade reform is in part a story of political framing as well as a story of compensatory deals. Countries can calculate that they might lose out on the solution to one of the issues but gain on another.

The rules laid down in Article 32 of the Protocol No. 18 on the Statute of the European System of Central Banks and of the European Central Bank of the Maastricht Treaty will significantly redistribute European seignorage income and hence the implicit entitlement to the 352 billion stock of...

We analyze the effects of the increasingly expansionary monetary policies on the economic order and on the European integration process. We argue that the market orders shaped in postwar Germany and in Margret Thatcher's United Kingdom have long served as cornerstones for growth, prosperity and...

Worker movements played a crucial role in making workplaces safer. Workplace safety is costly for firms but increases labour supply. A laissez-faire approach leaving safety of workplaces unknown is suboptimal. Safety standards set by better-informed trade unions are output and welfare...

The removal of the internal frontiers within the EC will tend to have a negative effect on trade relations between EC and CMEA countries. The implications of 1992 for trade patterns between the EC and the CMEA are examined in the following article and the role which future EC trade policy could...