This Working Paper examines options for the design of a workable fiscal union for the euro area. It provides a comparative study of fiscal institutions in the US and euro area in order to supply lessons from the operation of the US fiscal regime that could inform the design of the, hitherto...

Mit der Euro-Bargeldeinführung am 1. Januar 2002 wird die europäische Integration für die Bürger physisch greifbar. Die einheitliche Währung gibt es allerdings schon seit dem 1. Januar 1999. Wie sieht die Bilanz von mehr als zwei Jahren gemeinsamer Geldpolitik aus? Gibt es eine Koordination...

Processes of regional economic integration have been shaping the economic relations between countries significantly during the last decades. In addition, an increasing integration of the national economies into the global economy has affected these economic relations, too. In an effort to...

This paper provides the quantitative estimate of the potential growth bonus for CIS countries, and in particular EU's Easter Neighbours, that can be a result of deeper institutional harmonisation with the EU. Econometric investigation involving instrumental variable, simultaneous equation and...

In March, 2007, the Treaty of Rome celebrates its 50th anniversary. The chief lesson from this remarkable period of European cooperation is the contribution to growth and prosperity from economic integration. The common commercial policy that emerged from this treaty has had a significant impact...

Under what conditions can the European Neighbourhood Policy achieve one of its main objectives: to resolve conflicts in the European Union's neighbourhood? In the spirit of Montesquieu and Monnet, the basic hypothesis of the EU is that closer economic integration encourages governments to take...

In the light of the current economic debt crisis within the Euro zone, the heterogeneity of EU members has becoming increasingly apparent. This heterogeneity is evident not only in some single macroeconomic variables but also in the level of economic integration with the other EU members....

The purpose of the paper is to study the European Union - Turkey customs union (CU) of 1995 covering trade in industrial goods. The customs union decision of 1995 extending to rules and disciplines on various regulatory border and behind-the-border policies covers in particular customs reform,...

This paper examines the involvement of the CEECs into regional and global production networks over the period 1999 to 2009. We employ a theoretically justified gravity model which incorporates the extensive margin of trade and accounts for firm heterogeneity. We first estimate the model for...

This paper highlights the economic meaning of the size of the state for members of the European Union, thereby making the economic success of EU states statistically tangible. Firstly, we show in descriptive illustrations that the theoretically expected characteristics of small countries clearly...