Unless labour force participation in Europe increases enormously in the coming decades, the current demographic dynamics will pose gigantic challenges to the sustainability of public finance. Migration (and thus migration policy) can thus be seen as a central topic which will remain on top of...

We analyze the role of fiscal policy and intra-European trade in business cycle synchronization in the EU for the period 1995-2008. There is a broad consensus that the relationship between fiscal policy and business cycle comovements and between trade integration and cyclical synchronization are...