This paper assesses the reactions of the United States and the twelve economies of the European Monetary Union (EMU) to the financial crisis of 2008-2009. The rapidly spreading financial and economic contagion uncovered structural problems of each member of the EMU that impacted their relative...

This paper presents a comparative analysis of economic development in European and Eurasian countries, focusing on the educational level of population, fertility rates, production by sector and foreign trade. Countries are classified into 5 large areas: three for Western Europe, one for Central...

The Global Competitiveness Index (GCI) developed by Xavier Salai-Martín, in collaboration with the World Economic Forum, has been measuring the factors that drive the growth and prosperity since 2005. This paper focuses on grouping the European nations according to global competitiveness. It...

Mundell (1961) claimed that the viability of a currency union relies on the degree of labour mobility. In the present paper an attempt is made to introduce a test for the viability of a currency union. To this end author will try to measure in European countries the relative real wage rigidity...

Comprehensive reform of Local self-government presents one of the most important questions in the process of accession to the European Union. In ongoing discussions about effectiveness of the public sector it is almost impossible to avoid the issue of rational territorial organization of...

We investigate the determinants of public support for EU membership using a panel of fifteen countries over the 1974 - 2008 period. The results indicate that increases in inflation and unemployment rate generate a decrease in support for EU membership, while growth of GDP growth increases...

The diffusion of knowledge in the world generates positive externalities if knowledge flows increase the productivity of R&D. Our work analyzes knowledge diffusion and knowledge externalities in generating innovation and in determining productivity. We first estimate the determinants of...

We investigate inflation convergence between the Euro Zone and its CEE partners using panel data methods that incorporate structural shifts. We find strong rejections of the unit root hypothesis, and therefore evidence of PPP, in the East-European countries for the 1995:1 to 2000:4 period

In this paper the recent effect of the European Monetary Union on inward FDI-flows is examined. We use a difference-in-differences approach for both a gravity based- as well as a general equilibrium approach. The estimated results show that the introduction of the euro raises inward FDI by 14 to...

Целью работы является разработка и калибровка пространственной гравитационной модели, описывающей внешнюю торговлю регионов Российской Федерации через...