Volume 54
July/August 2019 · Number 4

Editorial

• Ursula von der Leyen – A Rocky Start, But Brighter Prospects

  Andrew Watt

Forum

• Data-Driven Economy: Challenges and Opportunities

  Bruno Carballa Smichowski, Barbara Engels, Justus Haucap, Christopher Olk, Markus Spiekermann, Max von Grafenstein, Alina Wernick

Articles

• Two Views of the International Monetary System

  Barry Eichengreen

• What Drives the Responsiveness of the Budget Balance to the Business Cycle in EU Countries?

  Gilles Mourre, Aurélien Poissonnier

• Have Sovereign Bond Market Relationships Changed in the Euro Area? Evidence from Italy

  David Cronin, Peter Dunne

• Beware of Financial Repression: Lessons from History

  Andreas Hoffmann

Letter from America

• Access to Data Will Change the World Power Structure

  Lutz Finger