One of the most striking aspects of the recent recession is the collapse in international trade. This paper uses disaggregated data on U.S. imports and exports to shed light on the anatomy of this collapse. We find that the recent reduction in trade relative to overall economic activity is far...

One of the most striking aspects of the recent recession is the collapse in international trade. This paper uses disaggregated data on U.S. imports and exports to shed light on the anatomy of this collapse. We find that the recent reduction in trade relative to overall economic activity is far...

The handling of the sovereign debt crisis in the European Union (EU) has raised fears that decision making in supranational organization and its member states has become less democratic and that European Central Bank now calls the shots in Europe. This article confronts this pessimistic...

This paper looks at macroeconomic factors behind the current crisis. The first part looks at how global macroeconomic trends-including sustained strong growth, low real interest rates, and high saving rates-provided an environment conducive to increased financial risk-taking. The second part...

Social inequalities in Europe, both between and within Member States, can have serious consequences for health. Health inequalities among socially disadvantaged and advantaged EU citizens are at odds with the EU principles of solidarity, fairness, and equal opportunity for all. In 2009, the...