The adoption of the euro in 1999 by 11 member states of the European Union created a single currency area second in economic size only to the United States. The euro zone's monetary policy is now set by the European Central Bank (ECB) and its Governing Council rather than by individual national...

Governments around the world are deeply divided about the proper role of industrial policy, with some politicians arguing for hands-off governance and others supporting government intervention to promote ""national champions""-- firms that receive government support for both political and...

This volume is based on papers delivered at the second CESifo-Delphi Conferences (Munich, November 2003, and Delphi, June 2004), which are jointly organized by CESifo and the Department of International and European Economic Studies of the Athens University of Economics and Business. The...

The contrasting trends toward earlier retirement and greater longevity have resulted in steadily increasing retirement costs over the last forty years. One important factor influencing early retirement decisions is the expansion of retirement benefits; but studies predict that most countries,...