Inflation in Austria started to rise from mid-2021 during recovery from the CORONA crisis. The Russian invasion in Ukraine and the heavy increases in energy prices made things worse and brought inflation to over 10%. The government did not enter direct formal negotiations with social partners...

Starting from the view that the crises in the euro zone were basically triggered by financial markets and reinforced by a lack of instruments for effective economic policy at the EMU level (Economic and Monetary Union), this working paper contributes to the ongoing debate on how to reform the...

The fiscal governance of the EMU is in dire need of reform. Its current arrangements suff er from several shortcomings, most notably, the limitations they impose on national fiscal policies, steering them towards too restrictive or pro-cyclical stances; the absence of an unconditional lender of...