This paper measures the net redistributive impact of the EU budget. It finds that for every € 1,000 difference in income per capita across countries, € 9 is offset by lower contributions to the budget and € 3 is offset by higher expenditures by the budget. The overall equalising effect is...

A rational financial constitution of the EU should be able to fulfil redistributive objectives at minimum costs. The present financial system of the Community is not compatible with this requirement. After the decisions of the European Council in Berlin on the Agenda 2000 the fundamental flaw of...

We examine the indicator property of the monetary indicator for inflation. Using a P*-model, Svensson shows theoretically in a recent paper that the relationship between these two variables is rather tenuous. The present study employs empirical evidence on the relations in his model to quantify...