While the European Union has been hailed as a major political success in the last five decades, it continues to face numerous economic and social concerns. With enlargements and changing international environments the Union is confronted with new challenges. Problems have arisen from new global economic developments, such as outsourcing of productive activities and the international macroeconomic imbalances. These issues include unemployment problems, slow growth performance of many EU countries, the formulation of appropriate macroeconomic policies, policies towards enlargement of the Union to institutional design and structural policies for the EU.
The fourteen articles in this book are divided into three parts. The first part is devoted to labour market issues covering reforms from welfare systems to pay-setting and longer working hours. The second part considers European macroeconomic issues including the fiscal policy framework for the EU, growth performance of EU-15 economies and global imbalances and their effects on Europe. The third part of the book is focused at institutional issues, including the subsidiary principle, European education systems, coming problems in European pension systems, and the functioning of the financial system and competition policy in Europe. Written jointly by a group of well-known independent economic experts, this book offers an in-depth economic analysis that aims to discuss and suggest effective solutions to current concerns in European policy.
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SEPPO HONKAPOHJA is a Professor of International Macroeconomics at the University of Cambridge, UK. He was previously Professor of Economics at the University of Helsinki, Finland. He has published extensively in economics journals and is author of the Book Learning and Expectations in Macroeconomics, with George W. Evans. In 2002-2007 he served as member and Chairman of the European Economic Advisroy Group at CESifo
FRANK WESTERMANN is a Professor of International Economic Policy at the University of Osnabrueck, in Germany. He was previously Assistant and Associate Professor at the University of Munich. He is author of Boom-Bust Cycles and Financial Liberalization, with Aaron Tornell. In 2002-2005 he served as the Secretary General of the European Economic Advisroy Group at CESifo
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