Aus der Sicht der Gewerkschaften bietet sich jetzt die Chance, europaweit frühzeitig Umweltverschmutzung zu begrenzen. Allerdings ist diese Begrenzung nur möglich, wenn sich die Europäischen Gemeinschaften nicht mit dem Verweis auf die Unterschiede in den beteiligten Industrien auf dem...

This paper explores the dominant role of politics in decisions made by euro area governments during the crisis. Decisions that appear to have been driven by local political considerations to the detriment of the euro area as a whole are discussed. The domination of politics over economics has...

European monetary history prior to 1950 presents many attempts at international monetary coordination, but none were as bold and as far reaching as the European Monetary Union envisioned in the Delors Report of 1989 and enacted through the 1991 Treaty on the European Union in Maastricht. This...

We show the Portuguese transition to the euro, in the framework of political economics, by constructing a bivariate confidence index, based upon Rocha de Sousa (1998, 1999a,b, 2001). Besides we try to understand if the euro functioned as an instrument of politico-economic integration. The...

Widespread concern over real effects of EMU is consistent with new Keynesian approaches to macroeconomic fluctuations, but more difficult to reconcile with a real business cycle (RBC) paradigm. Using a model with frictions as a point of departure, I speculate that nominal price rigidity in...

Widespread concern over real effects of EMU is consistent with new Keynesian approaches to macroeconomic fluctuations, but more difficult to reconcile with a real business cycle (RBC) paradigm. Using a model with frictions as a point of departure, I speculate that nominal price rigidity in...

When does trade become a one-way relationship? We study bilateral trade balances for a sample of 18 European countries over the period from 1948 through 2008. We find that, with the introduction of the euro, trade imbalances among euro area members widened considerably, even after allowing for...