In this volume, a group of economists and political scientists analyzes the political economy of European integration. The authors evaluate developments of European Monetary and Fiscal Policy and consider the current situation, assessing prospects for the future of an integrated Europe.

1 The Political Economy of European Integration: Introduction.- 2 Central Bank Independence and the Short-Run Output-Inflation Trade-off in the European Community.- 3 The Sectoral Composition of Trade Unions, Corporatism, and Economic Performance.- 4 The Logic of Currency Crises.- 5 Macroeconomic and Political Determinants of Realignment Expectations: Some European Evidence.- 6 Political Biases in Fiscal Policy: Reconsidering the Case for the Maastricht Fiscal Criteria.- 7 Fiscal Convergence Criteria, Factor Mobility and Credibility in Transition to Monetary Union in Europe.- 8 Regional Wage Differentials: A Comparison of the European Union and the United States.- 9 Economic Integration and Unemployment in the EFTA Countries.- 10 European Integration and the Regionalization of World Trade and Currencies: The Economics and the Politics.- Contributors and Editors.