Intereconomics - Review of European Economic Policy

Intereconomics - Review of European Economic Policy

Volume 48, May/June 2013

The May/June issue of Intereconomics features a Forum that explores the issues related to the regulation of water services in the EU, with special attention given to the European Commission’s proposal for a Directive on the award of concession contracts. This issue’s Articles focus on the EU banking system, the use of event studies in economic policy analysis, the exchange rate pass-through in transition economies and euro adoption in the new member states. The Editorial addresses the Cypriot precedent, while this issue’s Letter from America analyses economic implications of the proposed US immigration reform.


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The Regulation of Water Services in the EU

The European Commission's proposal for a Directive on the award of concession contracts has sparked vigorous public debate and intense opposition. This Directive is controversial because of the nature of the policy it proposes and because the sectors involved are highly sensitive. This Forum examines the weaknesses of the Commission's proposal and presents an overview of the current issues in water regulation and the provision of water services. The authors analyse the regulation of natural monopolies, water efficiency and upstream competition in the water industry.


The Cypriot Precedent

In this issue's Editorial, Diego Valiante (Centre for European Policy Studies) stresses that the Cyprus case is the precedent that has demonstrated the instability of the foundations of the banking union. It has also shown the weakness of an institutional set-up that will be required to make ever more important decisions as the economic crisis lingers and the banking system suffers further blows.

The Economic Consequences of the Proposed Immigration Reform

In the Letter from America, Giovanni Peri (University of California) analyses the US immigration reform proposal from an economic point of view. He identifies the legislation's main points and evaluates their potential consequences for US economic growth, productivity, labor markets and for the welfare of its current citizens.

The Adjustment Mechanism in the Euro Area

Pietro Biroli (University of Chicago), Gilles Mourre (European Commission) and Alessandro Turrini (European Commission) analyse the competitiveness adjustment mechanism in the euro area and its link with labour and product market regulations. The authors show that competitiveness in EMU has moved towards easing country-specific cyclical imbalances. Results also indicate that since the establishment of the monetary union, real exchange rate developments in euro area countries have become less reactive to country-specific cyclical imbalances, but also less persistent.

Current Issue of Intereconomics Online


In an ideal world, public policy would be guided by
reasonable knowledge of the scientific evidence supporting
the objectives policy seeks to reach, rather than ideology,
religion, prejudice, inertia or a sketchy and erroneous
understanding of the evidence.

from Judith Clifton and Daniel Díaz-Fuentes's Forum contribution The European Union's Concessions Directive: A Critical Reading

About Intereconomics - Review of European Economic Policy

Intereconomics is jointly produced by ZBW - Leibniz Information Centre for Economics and the Centre for European Policy Studies (CEPS). The journal appears bimonthly and features papers by economists that deal with economic and social policy issues and trends in Europe or affecting Europe. To submit a paper for publication, please visit the Call for Papers section of our website for relevant information.

Intereconomics is published by Springer-Verlag Berlin Heidelberg.

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