The following analysis of the 1992/93 crisis of the European Monetary System finds that the unfolding of the single market dynamics will make European Monetary Union a difficult stage to achieve. Further monetary integration is only feasible if full employment and sustained growth are achieved...

The process of EU integration has intensified in the 1980s and early 1990s. The desire of a number of central and eastern European countries to join the EU is often seen as a threat to the continuation of this process. How wide should the radius of EU enlargement be? Which forms of integration...

This paper explores the long-term relationship between public and private investment in the euro area. A stock-flow approach is proposed to control for the integration properties of the variables. Panel econometric techniques including international spillovers are employed. Private and public...