In the wake of the euro area crisis, the debate on instruments to deepen economic integration among its members has intensified, among others putting forward a fiscal stabilization capacity for Economic and Monetary Union (EMU) members. Contributions made so far to further this idea have mostly...

This study provides an overview of economic and labour market developments in the new EU member states of Central and Eastern Europe over the past several years. In addition, it presents the experiences that have been collected with regard to migration flows between the 'old' and the 'new'...

The report analyses recent economic developments and short- and medium-term development prospects, covering the countries of Central and Eastern Europe and Southeast Europe including Turkey, together with Russia, Ukraine, Kazakhstan and China. Separate chapters present an overview of...

Romania will become a member of the European Union in 2007 or 2008. This paper explores the potential impacts of this step on Austria in three major fields foreign trade, FDI and labour market. Romania is a more backward country than those which joined the EU in 2004, but it has been on a path...

We show that stronger fiscal rules in Euro area members reduce sovereign risk premia, in particular in times of market stress. Using a unique data set of rules-based fiscal governance in EU member states, we estimate a model of sovereign spreads that are determined by the probability of default...

This book examines how policies implemented by members of the Organisation for Economic Co-operation and Development (OECD) affect development and poverty in developing and transition economies.