The Optimal Currency Area theory stresses the importance of co-movement of the business cycles of member states in order for the common currency to be successful. Yet, the identification of (European) business cycles has been inconclusive and is complicated by the enlargement to the new member...

Macroeconomic Modelling has undergone radical changes in the last few years. There has been considerable innovation in developing robust solution techniques for the new breed of increasingly complex models. Similarly there has been a growing consensus on their long run and dynamic properties, as...

I: Expectations -- 1. Optimal Stabilisation Policies under Perfect Foresight -- 2. Towards the Resurrection of Macroeconomic Policies -- 3. Optimal Feedback and Feedforward Stabilisation of Exchange Rates, Money, Prices and Output -- II: Uncertainty -- 4. Adaptive Econometric Forecasting using...