Having the high unemployment in Germany in mind, this book discusses how macroeconomic theory has evolved over the past forty years. It shows that in recent years a convergence has taken place, with modern models embodying a Keynesian transmission mechanism, monetarist policy implication, and...

This book analyses the employment effects of job creation schemes for the participating individuals in Germany. Programmes provide subsidised jobs that are additional in nature and of value for society to hard-to-place individuals. International evidence on the effectiveness suggests that...

Holger Markmann studies covered bonds and their market behaviour upon the announcement and implementation of outright covered bond purchases by the eurosystem. After introducing the covered bond market, its reaction to the global financial crisis, and the functionality of unconventional monetary...

This volume, the fifth instalment of the classic Report on the European Union series, offers at once an economic and intellectual historical perspective on the creation of the euro and its 20 first years, a comprehensive review of the current and future challenges of the euro area, including a...

The main objective of this book has been to carry out research into the definition of industrial policy and its goals; to evaluate previously-introduced policies and instruments; and to identify the future challenges for and features of a modern EU industrial policy. A modern industrial policy...

"Paul J.J. Welfens has written a highly perceptive study of the origins - and the implications - of what must be Britain's worst deliberate economic policy mistake since the Great Depression." -Harold James, Princeton University, USA "This book by Paul J.J. Welfens, dealing with the result of...

This book explores the intricate connection between the Single Market, characterized by the freedom of movement of goods, services, capital and labor within and across Europe, and the Digital Single Market, the virtual space that promotes freedom of movement of information and data. Both a...

This book explores the role of national fiscal policies in a selected group of Euro-area countries under the European Economic and Monetary Union (EMU). In particular, the authors characterize the response of output to fiscal consolidations and expansions in the small Euro-area open economies...

This topical and important book identifies the short to medium-term economic, financial and social consequences of Brexit. Containing perspectives from leading thinkers across legal, economic and financial fields, it considers both the general effect of UK withdrawal on the European integration...