Major societal challenges of a global nature include climate change, efficient energy supply, environmental sustainability, and health care. Science & Technology Policy (S&T) policy is an essential contributor to dealing with these challenges; moreover, international cooperation and...

When does trade become a one-way relationship? We study bilateral trade balances for a sample of 18 European countries over the period from 1948 through 2008. We find that, with the introduction of the euro, trade imbalances among euro area members widened considerably, even after allowing for...