The concept of trade openness is broadly applied as a potential predictor in numerous empirical studies, despite the fact that no commonly accepted approach of measuring openness has been developed. The most widely applied (‘traditional’) openness indices are not able to accurately calculate...

This paper empirically assesses the impact of specialisation on the synchronisation of regional business cycles in two core countries of EMU, namely France and Germany. Several specialisation indices are introduced and some first stylised facts about interregional business cycle correlations are...

The following short article aims at presenting some relevant (though less discussed) aspects of concern about introducing central bank digital currency – no matter if intended as a substitute or complement to cash. For example, concrete referral to potential effects such as bank runs and...