This paper examines the likely direction of real interest rates in the Euro area and the United States from April 2009 on. It is argued that the crisis that began in 2007 and the ensuing recession changed the descending trend in real interest rates which started a long time ago. If real interest...

In this paper I discuss various notions and aspects of integration and macroeconomic convergence, namely economic and monetary integration; real and nominal convergence. The EU has offered a great deal of information about the relation between all these types of integration and macroeconomic...

The paper offers a brief discussion about the role of transport infrastructure in the current growth strategy followed by the EU. As a corridor is the locus where transport infrastructure and growth should interact more effectively, the central part of Corridor V is considered as an interesting...

We investigate in this paper differences in productive efficiency across sixteen European countries. In order to assess differences in productive efficiency, we have built a dynamic input-output model and computed for each country the balanced growth rate and the balanced output composition....