The Lisbon Strategy is working; it has helped to bring about higher economic growth, more jobs and reduced unemployment. As a new member state of the European Union, Romania should respond positively to the challenges of the Lisbon Strategy, and build the prerequisites for a knowledge-based...

In 1992 we published estimations about the probable effects of the EU membership on the Finnish economy. The profound economic shock of the early 1990s has made the assessment of the economic impact of Finland?s EU membership a difficult task. Nonetheless, the basic trends in relative prices,...

This study analyses possibilities for independent national redistribution and risk sharing policy in EMU by reviewing literature on fiscal federalism. The currency union will not directly affect the national welfare policy. It might increase mobility of people and capital, which would tighten...

Small open economies in Europe share many of the same characteristics, policy choices and economic problems. This paper argues that Belgium is profoundly affected by its position as a small open economy in the core of the European Union. Yet, this European dimension does not prevent that even a...

Why do some countries join the EU earlier than others, why do others wait? In order to answer this question we apply the theory of investment under uncertainty (Dixit and Pindyck, 1994) to the decision on EU-membership. We develop a simplified model of two periods to study how the value of...

A perception of declining EU competitiveness has intensified calls for structural reforms within the EU. This paper examines recent evidence on changes in relative EU competitiveness and considers the observed changes in relation to the evolving competitive environment facing EU firms during the...