Economic and Monetary Policy
The development of the European Union carries with it important implications for the design and outcomes of economic policy. This is the case with the adoption of a single currency and a monetary policy in the Euro-zone, but also with regard to policy issues concerning taxation, regulation, labour markets, the welfare state and the environment.
Our goal is to study economic policy issues relevant for the global economy, with particular attention to the old and new European economies.
International Financial System
The first pillar of this theme covers research on international financial systems. The main focus is on monetary integration in an enlarged EMU under the auspices of the Pierre Werner Chair Programme on Monetary Union.
We are also concerned with the transatlantic dimension and, more generally, issues of the international financial system.
Economic Stabilisation
The second pillar concerns economic stabilisation and the design of fiscal and monetary policy. An important question is the extent to which the European economies share a common business cycle; thus, the monitoring of developments in this field is a core activity.
Public Policy - National and International Economy
The third pillar deals with public policy issues relevant for national economies and the international economy. These include longer-term, public-finance issues of taxation policy, pension reform, and international environmental policy (e.g. markets for pollution permits).
Particular attention is paid to the design of an efficient welfare state making use of the principles of mutual obligations and second-best economics.
Our ambition is to carry out academic research with policy relevance for Europe and more broadly the global economy, promoting interaction among economists, lawyers, political scientists, sociologists and historians.
Current Projects