This paper is an examination of the legal basis of Economic and Monetary Union. The law stated therein was up to date on 12 February 1997. Since almost all of the EC Treaty provisions have been left entirely unamended since that date, the paper retains much of its relevance, although readers...

We estimate the response of product-level retail prices to changes in the corporate tax rates paid by wholesale producers (pass-through). Under perfect competition in goods and factor markets, pass-through of corporate taxes should be zero, and their incidence mainly falls on factor prices. We...

The WP analyses the changes to the law of Economic and Monetary Union (EMU) in response to the crisis, and discusses these major changes, their legal form, and the judicial challenges to them. The adaption of economic governance of the EU resulted in incisive regulation of Member States'...

Solidarity has always been an important element of European integration law and with the Treaty of Lisbon this principle has received even more prominence. But what does this concept mean and how should it be implemented? Within several areas of European integration law, for example regional...

This contribution is a commentary on Article 111 European Community Treaty (TEC). This provision concerns several aspects of the European Community's external monetary policy, namely the exchange rate systems and policies in relation to non-Community currencies, the agreements concerning...

Two seemingly unconnected empirical results suggest an intriguing mechanism. First, economic integration helps harmonize prices internationally, with trade being the primary channel (Rogoff 1996, Goldberg and Knetter 1997). Second, monetary union may greatly increase the amount of trade among...