Recent research has shown that regulatory competition does not necessarily lead to downward pressures on regulation, but may at times also push the level of regulation upwards. Extending David Vogel's "California effect" argument, this paper shows that such upward pressure may not only result...

Argument: The paper argues that the introduction of the Euro has considerably reduced de facto monetary policy autonomy in non-ECU members. We start from a simple Mundellian model, in which currency unions raise economic efficiency but reduce monetary policy autonomy. Our main argument holds...

Terrorism is an instrument for groups that cannot achieve their political goals legally. One important strategic function of terrorism is to weaken the government - either directly by attacking representatives or supporters of the government or indirectly by causing a political response, which...