From the founding days to date, the EU constitution does not explicitly empower the Union to formulate policy in the field of direct taxes; this area has been broadly left to the Member States. To date, limited EU-level intervention witnessed in direct taxes can, in part, be attributed to this...

This paper examines whether European integration, manifesting itself in increased trade and FDI linkages, new specializations and economic policy coordination, contributed to the synchronization of business cycles in the enlarged EU. We estimate the effects on bilateral growth rate correlations...

In light of the global financial crisis, an extensive implementation of fiscal stimulus packages has triggered an enormous soared of public debt in Europe. While grappling with this albatross, the high debt level has aroused the paramount interest of this study casts doubt on the role of...