Within the New Consensus Macroeconomics, monetary policy is upgraded while fiscal policy is downgraded. This new monetary policy has been the main instrument of policy under the guise of inflation targeting, an approach pursued by a number of central banks worldwide. This book raises problems...

Subsidiarity in the European Union, as the guiding principle of decision-making 'close to the people', is often motivated and discussed from a predominantly political perspective. In this book, experts draw the demarcation between national and European policies from an economic viewpoint....

This volume brings together contributions on the major economic policy issues which have opened up as a result of the immanent process of European Union Enlargement. The issues analyzed range from modelling and analyzing the costs and benefits of enlargement, to challenges for macroeconomic...