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This paper constructs a simple model of the steel sector in Europe distinguishing eight West and two East European regions. It models the production of steel and also the various trade restrictions extant in 1992. It uses this model first to calculate the output and welfare effects of...
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This paper provides a comprehensive review of the factors that can cause price levels to diverge and which are at the root of different inflation rates in Europe including the EU-27. Among others, we study the structural and cyclical factors influencing market and non-marketbased service, house...
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the country’s creditworthiness. Therefore, a default and debt restructuring were inevitable sooner or later—and certainly … about 50 percent of the time. Does that tell you something?” In reality, Greece’s road to default and debt restructuring in …
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