The book opens with a discussion of problems of a general nature. Questions posed include: What is the convergence record in the EU so far? Is there a sign of Baumol and Quah’s ‘convergence clubs’ and ‘twin peaks’? Have the ‘structural funds’ of the European Commission made any difference?
The authors then analyze questions of a fiscal and monetary nature: Can we expect the monetary policy of the ECB to have similar effects in the EMU member-states, or is it in itself a source of asymmetric shocks? Has EU membership made any difference with respect to the initial differences in tax revenue structures? Finally the book focuses on questions regarding social and labor markets: Is global economic convergence compatible with sustainable differences in national social protection levels? Does European globalization force labor markets to ‘de-institutionalize’ and do European labor markets converge to a ‘Third Way’ model?
Academics and researchers of European studies and economic policy will find this up-to-date book of great interest, as will policymakers and business leaders both affected by and from within the EU.
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