Economic and Monetary Union in Europe brings together contributions from leading specialists which explain and evaluate the most important implications of economic and monetary union. The book examines theoretical aspects of monetary integration, illustrates the historical lessons to be learned...

The future of European Monetary Union (EMU) stands as one of the most important economic issues of the era. The author argues that in the event of macroeconomic shocks, rather than acting as a cohesive force, EMU could give rise to disunity. As EMU is not an optimal currency area, asymmetric...

Dynamics of Balance of Payment developments are still barely researched. Chapter 1 tries to summarize empirical evidence between institutional determinants and BoP movements and proposes a framework for the role of institutions in a debt cycle. It is found that “good” institutions do help a...

The 2010 European debt crisis has revived the discussion concerning the optimum adjustment strategy in the face of asymmetric shocks. Whereas Mundell's (1961) seminal theory on optimum currency areas suggests depreciation in the face of crisis, the most recent emergence of competitive...

The studies cover topics in the conceptualization, classification and stratification of public goods. Also examined are public institutional design, global economic institutions and partnership typologies. Individual papers address the financing, regulatory, organizational and legal aspects...

The original essays in this book have been written by a number of leading international experts in the field of labour market studies to honour the intellectual contribution and lifetime achievement of Günther Schmid