Austerity policies again prevail in Europe as well as in the United States. These economists, based in England and continental Europe, focus on the poorly understood damage that the austerity mania will almost certainly do on their side of the Atlantic. Why is it happening? There is no rational...

The euro crisis has highlighted a range of problems with the "euro project." These problems and difficulties are related to fundamental weaknesses of the euro and the lack of a financially unified European Monetary Union. This short article attempts to explain the original shortcomings of the...

A continuation of the current policy of bond purchases known as quantitative easing is highly probable under Janet Yellen, who is likely to be confirmed as the successor to Federal Reserve chair Ben Bernanke. The authors assess the probable outcomes for interest rates, which they think will not...

The authors believe that a serious move toward a political union is probably necessary to save the euro. However, current arrangements are not yet adequate to get us there.

It's time to scrap the rules that limit budget deficits and let the national governments control their own fiscal policies in the European Union, say the authors.