This work examines the political economy of exchange-rate policies in the eastward expansion of the eurozone. Analysis shows that prospective members of the EMU are likely to pass on some costs of convergence to the current EMU members. The mechanism is an altered exchange-rate policy that...

Introduction -- Municipal Finances in Germany -- Participatory Budgeting – Origins, Diffusion and Research Findings -- Theoretical Framework and Hypotheses – Examination of Factors Explaining PB Adoption and Diffusion -- Empirical Analysis -- Conclusion and Outlook.