The volatility of exchange rates leads to reduction of the international trade volume, mainly in the emerging economies in which all the Mediterranean South countries belong to. Thus, this study discussed the impact of exchange rate issue on South- North trading flow, which comes timely after...

On top of the sovereign debt crisis in the European Union, demographic change is exerting enormous pressure on public finances. We analyse four policy options: lowering pension benefits, increasing labour market participation of the native population, immigration and participation of older...

High prices of basic food pushed up total consumer price inflation in 2007 worldwide, not least in the EU neighbour countries. The European Neighbour Policy Mediterranean countries, Commonwealth of Independent States (CIS) and the Gulf Cooperation Council were almost all affected by the global...

We derive a non-linear wage equation from a wage bargaining model and estimate an error correction model for Germany, Spain, France, the Netherlands and the US. Based on the estimated parameters, we derive time-varying elasticities of wages with respect to its determinants labour productivity,...