The recent outset of European Monetary Integration with the introduction of a unique currency and a full centralization of monetary policy together with the increasing integration of global capital markets, stimulated a large body of research on monetary policy rules. Since Lucas' critique, the...

This report reflects on recent trends in fiscal and monetary policies at the onset of EU-enlargement. Particularly, the authors focus on necessary adjustment processes for future EU-members. How to smooth best the transition period between normal EU-accession and eventual participation in the...

This paper has been prepared as a part of a broader Ezoneplus project that evaluates European Monetary Union (EMU) and its enlargement to prospective members in central and eastern Europe. The project is financially supported by European Commission (HPSE-CT-2001-00084). It contains the following...