In 2007 the EU member states inaugurated a European Defence Technological and Industrial Base strategy. The gradual integration of national DTIB should lead to selfsufficiency for security of supply – but on a European rather than national level. A better co-ordinated, less duplicative defence...

We evaluate the Friedman-Schwartz hypothesis that a more accommodative monetary policy could have greatly reduced the severity of the Great Depression. To do this, we first estimate a dynamic, general equilibrium model using data from the 1920s and 1930s. Although the model includes eight...