Exchange rates, interest rates and share prices are subject - at least occasionally - to great fluctuations. Diverse economists regard the volatility of international financial markets as a threat to the goods and labour markets. They blame the price turbulences on the speculative behaviour of a...

The long-held truism that finance is always good for growth has been called into question by the global financial crisis. This article examines new evidence on the finance-growth nexus from a European perspective. More specifically, it compares the approach of many CESEE countries - i.e....

Vigorous debate over the effectiveness of the fiscal adjustment programmes for the crisis-stricken countries in the eurozone has grown quite polarised. In this Forum, several experts use analytical, evidence-based approaches to gauge the effectiveness of these programmes. The role played by the...