Despite its rather broad goal of promoting "economic, social and territorial cohesion", the existing literature has mainly focused on investigating the Cohesion Policy's growth effects. This ignores the fact that part of the EU expenditures is directly aimed at reducing disparities in the...

Economic and Monetary Union (EMU) has transformed Europe and has created an integrated pan-European economy. Much research has focused on understanding this integration process and what benefits and costs it entails. This paper identifies a political economy channel of EMU as the monetary union...