Country-specific business cycle fluctuations are potentially very costly for member states of currency unions because they lack monetary autonomy. The actual costs depend on the extent to which consumption is shielded from these fluctuations and thus on the extent of risk sharing across member...

Für Politiker, Beobachter und Kommentatoren der Osterweiterung. Wirtschaftsstudenten und interessierten Laien bietet das Werk auf der einen Seite ein tragfähiges Fundament der Auseinandersetzung mit den Problemen der Osterweiterung, da die Verfasser sich bemüht haben, die theoretischen und...

The aim of this report, which has been prepared by a Task Force of the Monetary Policy Committee of the Eurosystem, is to describe and analyse the main developments in labour supply and its determinants in the euro area, review the links between labour supply and labour market institutions,...