The paper analyses the EU fiscal rules from a political economy perspective and derives some policy lessons. Following a literature survey, the paper stresses the importance of appropriate incentives for rule compliance in an environment where national fiscal sovereignty precludes the option of...

This paper studies welfare consequences of a soft borrowing constraint on sovereign debt which is modeled as a proportional fine per unit of debt exceeding some reference value. Debt is the result of myopic fiscal policy where the government is assumed to have a smaller discount factor than the...

This paper investigates the relationship between government debt and labour taxation for a panel of 18 EU countries over the period 1979-2008. The econometric estimates point to a statistically significant and economically relevant positive response of labour taxation to changes in the general...

Drug use and drug-related problems continue to be a major concern for EU citizens, as well as being a significant public health and public safety issue. Around one quarter of the adult population is estimated to have used illicit drugs at some point in their lifetime, with cannabis the most...

Drugs and drug-related problems are major concerns for EU citizens and a major threat to the security and health of European society. The use of drugs, particularly among young people, is at historically high levels. The European Commission has been studying the importance of drug-related...