Convergence Issues in the European Union

This tital addresses a number of vital economic convergence issues in the European Union. These are both general and specific issues relating to financial and monetary matters as well as social and labour market concerns. 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 analyse 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 labour markets: Is global economic convergence compatible with sustainable differences in national social protection levels? Does European globalization force labour markets to "de-institutionalize" and do European labour markets converge to a "Third Way" model?