This paper describes the institutional flaws that led to the euro crisis, assesses the institutional reforms that were put in place during and in the aftermath of the crisis, and evaluates the remaining fragilities of the architecture of the European monetary union. In mid-2017, growth in the...

This paper describes the institutional flaws that led to the euro crisis, assesses the institutional reforms that were put in place during and in the aftermath of the crisis, and evaluates the remaining fragilities of the architecture of the European monetary union. In mid-2017, growth in the...

Technological, economical, institutional and political factors result in highly uncertain CO2 control costs. Lessons from the European carbon market and Kyoto scenarios suggest potential detrimental effects on emission reduction incentives and international participation. Our analysis of price...