The three essays of this dissertation contribute to the measurement of European economic integration and investigate the welfare effects of the European countries. The first study presents a newly developed index – the EU Index – which measures the extent of economic integration into the...

Against the background of the euro-sceptic view many German economists expressed during the 1990ies and the traditional as well as modern debate on the optimum currency area the outcomes of the first ten years of the European Monetary Union are analysed. It is checked to what extent the concerns...

Exchange-rate strategies may be used to pursue the most varied objectives as instruments of development policy or of structural adjustment. The following article will examine the advantages and disadvantages of a number of exchange-rate policy options.

The paper adresses the need for more flexibility in the integration process of the European Union after its recent eastward enlargement. Due to the increasing number of decision-makers and the increasing heterogeneity of economic structures, financial constraints, societal preferences, and...