Risks to financial stability in the euro area appear to be contained for the time being, but could be substantial in the longer run....

Kiel Policy Brief No. 125: The authors sketch the economic costs for EU member countries in case of a reversal of the integration...

This article has two purposes. The first is to dispel some common myths regarding the Brexit negotiations – the myth that the UK is...

KBW 15: In a full reserve system, commercial banks would lose the ability to create money out of thin air and to use sight deposits as...

We take stock of the current evidence on fragmentation in financial markets in the  euro area and discuss policy options to...

Kiel Policy Brief No. 118: This paper projects government interest payments as a percentage of GDP for Germany, France, Italy and...

Kiel Policy Brief No. 120: he authors show that despite its high debt-to-GDP ratio and increasing risk premia on government bonds,...

Kiel Policy Brief No. 116: Thanks to an indirect hair cut on its debt via low long-term fixed interest rates and maturity extensions...

In the course of the EU Eastern Enlargement the United Kingdom was one of the few EU-15 countries which from the beginning took...

The current asylum system is contradictory, unfair, and both costly and hazardous for all involved. Under the present rules, refugees...

Kiel Policy Brief No. 107: The authors Klaus Schrader and Marta Ulivelli analyse the shortcomings of the Italian economy and of the...

This compilation paper revisits the Schengen set up including recentdevelopments triggered by both the migration crisis and terrorism,...

Kiel Policy Brief No. 103: For eight years, Greece has remained in crisis mode but the rescue from economic decline is still not...

There is little the European Union today needs more urgently than cohesion, unity and solidarity. From this perspective, it seems...

Kiel Policy Brief No. 108: The political conflict over the legal status of Catalonia fuels concerns about the future economic...

Kiel Policy Brief No. 106: In his Kiel Policy Brief the Kiel economist Jürgen Stehn asks, in how far the White Paper on the Future of...

This report examines key aspects of the European Union-China economic relationship, including trade, investment and China’s key...

This study analyses the consequences of the US countervailing duties imposed due to illicit subsidies for the European joint venture...

This paper summarises recent trends in the international use of the euro and potential benefits and drawbacks of acquiring the status...

If the monetary authority lacks commitment, a monetary union can dominate flexible exchange rates. With forward-looking staggered...