Table of contents
Foreword
Acknowledgements
Preface
Charles Wyplosz
1 Europe's future: The value of an institutional economics perspective
Nauro F. Campos and Jan-Egbert Sturm
Part I: Bretton Woods and European integration
2 What modern Europe can learn from Bretton Woods
Harold James
3 Political influences in IMF and World Bank operations: Lessons for the design of European institutions
Axel Dreher
4 The economic benefits from European integration: Lessons from the UK's EU sojourn
Nicholas Crafts
5 European Economic and Monetary Union: Past performance and future returns
Giuseppe Bertola
6 A critical perspective on future European integration
Harald Badinger
Part II: European institutions
7 The changing battle lines in the European Parliament
Simon Hix, Abdul Noury and Gerard Roland
8 Institutions and convergence in Europe: The case of Structural Funds
Sascha O. Becker, Peter H. Egger, and Maximilian von Ehrlich
9 An institutional innovation in the euro debt crisis: The ESM
Kari Korhonen
Part III: Financial institutions and labour mobility
10 The real costs of financial disintegration
Isabel Schnabel and Christian Seckinger
11 Shocks and risk sharing in the EMU: Lessons for Banking and Capital Market Union
Mathias Hoffmann, Egor Maslov, Bent E. Sorensen and Iryna Stewen
12 Austerity and migration in Europe
Christopher House, Christian Proebsting, and Linda Tesar
13 Labour mobility and the European Project
Davide Furceri and Prakash Loungani
Part IV: Monetary and fiscal union
14 The case for more fiscal risk sharing and coordination of fiscal and monetary policy
Jakob de Haan and Patrick Kosterink
15 Financial engineering will not stabilise an unstable euro area
Paul De Grauwe and Yuemei Ji
16 A euro area fiscal architecture
Phillipe Martin
17 The need for a fiscal capacity
Lars P. Feld
Part V: Redesigning euro area institutions
18 The European Monetary Fund and the euro experiment
Xavier Vives
19 Reforming Europe, the role of trust, and the cost of doing nothing
Clemens Fuest