We derive four sets of counterfactual national interest rate paths for the 17 Euro Area countries for the time period 1999 to 2012. They approximate desirable national interest rates countries would have liked to implement if they could still conduct independent monetary policy. We find that...

Introduction: Liberalisation, privatisation and the labour market / Maarten Keune, Janine Leschke and Andrew Watt -- Privatisation and liberalisation of public services in Germany / Torsten Brandt and Thorsten Schulten -- Marketisation in Swedish electricity and postal services / Christer...