The European Commission’s Scoreboard of Macroeconomic Imbalances is a rare case of a publicly released early warning system (EWS). That allows for analyzing the preferences of the involved politicians with regard to the two potential errors of an EWS – missing a crisis and issuing a false...

The European Commission s Scoreboard of Macroeconomic Imbalances is a rare case of a publicly released early warning system. It allows the preferences of the politicians involved to be analysed with regard to the two potential errors of an early warning system missing a crisis and issuing a...

Der Umgang mit den Schuldenkrisen in einigen Euroländern steht derzeit ganz oben auf er Tagesordnung der EWU-Gremien. Der Rettungsschirm zur aktuellen Krisenbewältigung ist allerdings bis 2013 befristet. Danach sollte ein dauerhafter Krisenpräventions- und Krisenmanagementmechanismus...

The paper elaborates on the appropriateness of a potentially enlarged Common Monetary Area in Southern Africa including Botswana and Mozambique. The theory of optimum currency areas including some extensions by accounting for costs of non-integration and considering the external relations of...

European authorities and scholars published proposals on which indicators of macroeconomic imbalances might be used to uncover risks for the sustainability of public debt in the European Union. We test the ability of four proposed sets of indicators to send early-warnings of debt crises using a...