Gino Gancia, Giacomo Ponzetto and Jaume Ventura have written an extremely interesting paper on a topic that is very timely for the global economy. In this article, I will first argue that GPV have succeeded in formalizing their hypothesis, and that while providing very suggestive analytical...

We use a quantitative model to study the implications of European integration for welfare and migration flows across 1,318 regions. The model suggests that an increase of trade barriers to the level of 1957 reduces welfare by about 1-2 percent on average, depending on the presumed trade...

This paper reviews the creation and evolution of the European Economic Monetary Union (EEMU) and discusses the insights and perspectives of the key lessons for Asian economic integration utilizing an extensive review of the literature method. In order to implement a common monetary and economic...

Europe’s economy is finally growing robustly. These positive developments provide an opportunity to renew efforts to meet the long-term challenges facing the European Union (EU). The EU’s record on reducing regional income disparities is mixed and this explains some of citizens’ discontent...

Under what conditions can the European Neighbourhood Policy achieve one of its main objectives: to resolve conflicts in the European Union's neighbourhood? In the spirit of Montesquieu and Monnet, the basic hypothesis of the EU is that closer economic integration encourages governments to take...

This chapter discusses whether and how 'new quantitative trade models' (NQTMs) can be fruitfully applied to quantify the welfare effects of trade liberalization, thus shedding light on the trade-related effects of further European integration. On the one hand, it argues that NQTMs have indeed...

The financial crisis in Europe has resulted in a new assessment of monetary and financial integration both in Europe and in Asia. Before the current crisis, regional integration in monetary and fiscal affairs including mechanisms to stabilize exchange rates enjoyed a lot of academic and...

Historiography on European integration before 1914 has acknowledged that the level of entanglements between the European nation-states was quite advanced. Indeed, historians were able to confirm a high level of cooperation on the legal, social, technical and even political level. And yet, the...