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As a result of the Balassa effect relative prices change rapidly between and within the euro countries. Thus it is impossible to find a common monetary policy that will result in price stability in all countries. Based on empirical estimates of the Balassa model, the paper calculates a minimum...
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The paper deals with the effects of migration resulting from EU Eastern enlargement on the welfare states of Western … is a rational reaction of the state. The proposed new EU constitution which contains far-reaching rules for a European …
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