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well as between fiscal policy of the EU countries and the other OECD countries. In particular, the EU countries react in a …-cyclical. However, ex ante fiscal policy is a-cyclical for the EU countries and counter-cyclical for the other countries. …
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Economic and Monetary Union (EMU) has transformed Europe and has created an integrated pan-European economy. Much research has focused on understanding this integration process and what benefits and costs it entails. This paper identifies a political economy channel of EMU as the monetary union...
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We investigate the political determinants of risk premiums which sub-national governments in Switzerland have to pay …
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