The new Europe will bring together a plurality of religions, traditions and cultures. The process of European integration has not only political implications, but also economic, political, social and religious implications. In this context, the building of a New Europe requires a coherent...

The borders of Central and Eastern Europe (CEE) today are the result of a complex process conducted decades after the fall of communist regimes in this part of Europe. With the opening towards the west, with the change of political and economic regimes came the implementation of democratic...

The forms of inclusion required by the goal of accommodating ethno-diversity, although varied, often reproduce situations of democratic deficit generated by the assimilating character of implemented policies. Despite the dissolution of the communist regime and the building of a new Romania under...

The European continent, under the urge of the events generated by the process of building Europe that has led to an enlargement of the external European Union borders towards the east, undergoes a process of alteration. No matter on which side of the EU border they may be, the citizens of the...

This paper estimates the US Taylor rule for the period 1997 – 2010, with monthly data, a period characterized by two recessions and asset markets turbulences. Its novelties are that, firstly, we follow Weise and Barbera (2009) and include in the Taylor rule credit spreads (a variable which...

We investigate whether the mortgage equity withdrawal (MEW) mechanism is useful for explaining the large declines in the US personal saving ratio in the last two decades. MEW depends on house price inflation and mortgage rates. In addition stock prices may affect saving ratio. Therefore, we...

This paper uses recent US data to estimate the new Keynesian Phillips curve (NKPC) with three modifications. Firstly, the variables in the NKPC are found to be nonstationary. Therefore, it is estimated with the time series methods and the cointegrating equations are tested for structural breaks....

This paper distinguishes between the long run and short run Phillips curve (PC) and uses the micro theory based specification, with forward looking expectations, for the long run PC. The long run and the implied short run dynamic equations are estimated in one step with the general to specific...

This work shows that Italian consumer confidence indicator (CCI) is non-stationary and, therefore, can be estimated with the time series methods. It is found that a long-run relationship exists between CCI, short-term interest rate, industrial production index and the difference between...

This paper uses the methodology of Pearce (1979) and Bhagestani and Noori (2008) to show that the expected rate of inflation by the market participants in Australia is more rational than the household survey forecasts by the Melbourne Institute.