With the beginning of the year 1999, a further important step towards deeper integration of Europe took place: The European Monetary Union (EMU) was put into force. Undoubtedly, this has, beside other effects, also considerable effects on the economic geography of the integrating area. Possible...

US federal transfers to individuals are large, countercyclical, vary geographically, and are often credited for helping stabilize regional economies. This paper estimates the short-run effects of these transfers using plausibly exogenous regional variation in temporary stimulus packages and...