It is nearly impossible to fully understand the developments and problems of European economic and monetary integration without examining its historical and political background. European monetary integration has at times been propelled, at times been hindered by political motives and...

The European Union and the United States have the largest trading relationship in the world, comprising about 60% of world trade (Perdikis and Read 267). They are also the greatest proponents of trade liberalization and multilateral trade cooperating in the world. Boeing was the undisputed king...

[Introduction]. The Common Agricultural Policy (CAP) constitutes a major public intervention in the European Union (EU) which generates large redistributive effects. Significant resources are being transferred among producers and consumers of agricultural products and the taxpayers. The...

[From the Introduction]. This paper analyzes the relationship between French and West German national macroeconomic policy patterns and Franco-German economic cooperation in the 1980s. I will argue that in some fundamental respects policy-makers in both countries had identified the same economic...

Given the theoretical presumption of most institutionalist approaches based on the Coase-theorem that institutions contribute to cooperation and thus to problem solving beyond the hierarchical coordination of the nation state, the question comes up whether this assumption proves true empirically...

Theories of international cooperation (TIC) predict that deeper economic integration raises the costs of policy conflicts and promotes coordination. As the US-EU economy makes up 60 per cent of the world GDP, policymakers on the two sides of the Atlantic are expected to assign highest priority...

[Introduction]. A monetary union is a group of states which share a single, or common, currency. An economic and monetary union (EMU), like the Eurozone, is characterized not only by a single currency, but also by a single market, as well as by a common economic and monetary policy. According to...

[Introduction]. Until the 19th and mid-20th centuries, economic theory explained that the economic status of a country was represented by the strength of its currency.2 This strength is measured by the exchange rate of one currency vis-á-vis another currency, a “zero-sum” game in which one...

Wage growth has remained under control after the formation of the European Monetary Union (EMU). The literature has advanced numerous explanations to account for this phenomenon. But, arguments about the need to preserve competitiveness in an enlarged market remain too generic. At the same time,...

[From the Introduction]. What are the major issues involved in our topic? The questions are: first, given that there is a "Europe 1992", the creation of a Single European market (SEM) in the real sector, what, if any, are, or must be, the implications for the monetary sector. Second, whether and...