The creation of a single currency is deemed to produce further heterogeneity in regional trade, as regions differ in their exposure to trade with other European countries. It is possible to disentangle two separate effects on bilateral trade, namely the “exchange rate volatility effect”...

In the European Union, medicines are regulated products subject to both single market (e.g., regional exhaustion of property rights) and country specific health care regulations (e.g., medicines pricing). This gives rise to parallel trade (PT), a phenomenon that takes place when a patented...

This editorial article argues that the development of behavioural economics gives rise to a wide re-interpretation of the field of welfare economics. More specifically, social efficiency criteria under quasi-rationality might well diverge from that of full rationality. This arguably has at least...