This paper studies the bargaining power of the debtors versus the creditors in Europe’s Economic and Monetary Union (EMU).

This paper studies the how government policy can influence positively public attitudes towards the Economic and Monetary Union (EMU).

This paper examines the synchronization in business and financial cycles both across and within a representative sample of Eurozone countries.

Today's global economy, with most developed nations experiencing very low inflation, seems a world apart from the "Great Inflation" that spanned the late 1960s to early 1980s. Yet, in this book, Brigitte Granville makes the case that monetary economists and policymakers need to keep the lessons...

This paper attempts to provide an economic model in the context of developing countries to address the policy strategies related to poverty reduction. With a view to deal with the shortcomings of the existing approaches as regards poverty reduction, this paper develops a model on the basis of...

The starting point of this project is the question of whether the macroeconomics of the German political establishment does indeed differ, as it often seems to do, from standard textbook macroeconomics: in particular, the former appears to neglect demand management (although it may be quite...

France currently needs deep structural reforms to boost competitiveness; but such reforms seem impossible while France remains in the straitjacket of the rules-bound transfer union that is the current Eurozone. High outstanding sovereign debt coupled with almost zero economic growth pose a real...

Russian monetary policy has failed persistently to achieve sustained low inflation, both in absolute terms and relative to the peer group of countries similarly exiting from Soviet-style central planning. This paper explores the reasons for this state of affairs by analysing the kind of monetary...

Summary We explore the impact of informal institutions on technological change in transition, comparing the 89 regions of the Russian Federation. We use panel data during the period of recovery and growth, 1998-2004. The one-country framework provides a constant background--unlike, for example,...