This paper presents a dynamic theoretic model of monetary union break - downs that result from violations of the macroeconomic targets agreed upon at the time of monetary integration. Non-cooperative behavior of two constituen - cies or interest groups results in multiple possible equilibria....

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This paper presents an ex-post empirical analysis of the impact of European electricity mar- ket reforms on markups of rms. The working hypothesis is that further economic integration would bring competition into electricity markets re ected by lower markups of electricity rms. The results show...