This important collection presents an authoritative selection of papers on "Institutional Conflicts and Complementarities" This publication is intent on building bridges between economics and the other social sciences. The focus is on the interaction between monetary policy and wage bargaining...

This paper investigates the macroeconomic implications of different regimes of international fiscal coordination and monetary-fiscal cooperation in a monetary union with independent fiscal authorities, that act strategically vis-a-vis a common central bank. In the presence of other policy goals...

The European Union has combined a belief in institutional engineering with the experience that comprehensive reform is difficult to achieve. The long-term development has been in a consistent direction. Yet, the history of the Union is one of founding acts and deliberate institution-building, as...

In this note, we argue that the Eurozone needs an institutional exit mechanism to enhance Eurozone stability, and propose modifications to the Dobbs' NEWNEY mechanism, the only mechanism that satisfies the twin properties of eliminating incentives for intra-Eurozone capital flight and...

Excessive fiscal spending is commonly cited as a primary cause of the current European sovereign debt crisis. We develop an alternative hypothesis which better accounts for systemic differences towards EMU countries' exposure to market speculation: the rise of competitiveness imbalances which...