The end of the Cold War has been a catalyst for Turkish economic relations with its neighbors. Turkey moved from the periphery to the center of a region that is transforming politically, socially and economically very fast. It is now surrounded by 13 sovereign nation states, which are more or...

The end of the Cold War changed the political landscape of the Black Sea area and the Middle East completely: In the North-East, the collapse of the Soviet Union was followed by the nascence of new sovereign nation states - with all the problems of nation building and all the costs of going...

We use a Vector Auto Regression (VAR) analysis to explore the (spill-over) effects of fiscal policy shocks in Europe. To enhance comparability with the existing literature, we first analyse the effects of these shocks at the national level. Here, we employ identification based on Choleski...