The process of European integration can be described as the increasing interdependence between economies at different levels of development and with different productive capabilities. It evolved from a pre-eminently political project to a ‘de-politicised’ management based on the automatism...

The European north-south divide has been an issue of a long-standing debate. We employ a Global VAR model for 28 developed and developing countries to examine the interaction between the global trade imbalances and their impact within the euro-area framework. The aim is to assess the propagation...