complex picture. While Europe has experienced both systematic economic convergence and an increased coordination across …

be combined with a fiscal union. The history of the U.S. monetary/fiscal union is often given as a template for Europe …

inflation, other countries both in Europe and elsewhere have also had a decade of low inflation without incurring the costs of a …

, the mean welfare gain from trade integration with Eastern Europe is 0.16%, rang- ing from zero for Portugal to 0.4% for …. For Eastern Europe, comparative advantage is a key determinant of the variation in the welfare gains: countries whose … comparative advantage is most similar to Western Europe tend to gain less, while countries with technology most different from …

Europe's monetary union is part of a broader process of integration that started in the aftermath of World War II. In …