In addition to its direct effects on the global trading and production structure, the ongoing process of globalisation may have important implications for the interaction of exchange rates and the overall economy. This paper presents evidence regarding possible changes in the role of exchange...

This study seeks to determine the extent to which countries of the former Soviet Union are infected” by the Dutch Disease. We take a detailed look at the functioning of the transmission mechanism of the Dutch Disease, i.e. the chains that run from commodity prices to real output in...

Sooner or later all the accession economies will have to join the ERM2 - a mandatory framework for all those countries that face the challenge of joining the EU. Entering the eurozone will be an unprecedented achievement. The achievement will be all the more remarkable given the unique...

This study examines the effects of bilateral exchange rate on trade flows in the WAMZ and assesses the role of complementarity trade structures in enhancing intra-WAMZ trade. The modified gravity model is used to assess whether efforts by WAMZ countries to facilitate transactions in national...

This study estimates the rate and distance to convergence of WAMZ Member States and provides a comparative analysis of nominal and real convergence to evaluate WAMZ's preparedness for monetary integration. We employ monthly data on the consumer price index and nominal exchange rate from January...

This paper presents a European Index of Regional Institutional Integration (EURII), which maps developments in European integration from 1958 to 2014 on the basis of a monthly dataset. EURII captures what we call: (i) the “Common Market Era”, which lasted from 1958 until 1993; and (ii) the first...

The key point is about Russia, old and new, being a counterrevolutionary power: Russia's post- Napoleonic War and moreover post-1848 policy was counterrevolutionary abroad and conservative, even when reformist, at home, as is Russia's current post-Soviet, post-Cold War policy. However, while the...

This paper investigates the determinants of the trade balance using panel data for 32 industrialized and emerging economies for the period 1990?2007. The results based on fixed effects models and linear mixed models allowing for random slope coefficients, show that the trade balance as a...

At its 10th anniversary the EMU had to stand the baptism of fire caused by the "Great Recession" 2009. By and large it mastered this test. The introduction of the Euro, however, has brought to light the latent weaknesses in competitiveness of some member states of the Euro area, consisting up to...