Closing the prosperity gap between regions has always been a key political aspiration of the European Union - and cohesion policy is the primary means to achieve that goal. Europe is currently undergoing a digital and green transition that is drastically changing the way its economy works. How...

The recent steel conflict between the USA and Europe has once again dramatically highlighted the close links between political and economic strategies in this field. The world-wide steel crisis has provoked permanent state intervention in the steel industry. The forms taken by this intervention...

Today technological progress is promoted by governments in numerous and diverse ways. What forms does this intervention take? Is governmental promotion of technological progress necessary? Is it even justifiable?

This paper analyses the adjustment mechanism in the euro area prior to the crisis. Results show that the real exchange rate adjusted to redress cyclical divergences and that after monetary unification, real exchange rate dynamics became less reactive to country-specific shocks but also less...

In the new member states of the EU which have not yet adopted the euro, previous adoption strategies have come under scrutiny. The spillovers and contagion from the global financial crisis revealed a new threat to the countries' real convergence goal, namely considerable vulnerability to the...

This paper assesses the limitations that the Stability and Growth Pact has imposed on Italy's economic recovery and its debt reduction. By evaluating Germany's fiscal policy since 1997, the paper offers recommendations for the Italian authorities. Measures put forward by European Union...