Economic Performance of the European Union

KARL AIGINGER Austrian Institute of Economic Research, Vienna University of Economics and Business Administration, University of Linz, AustriaIVANA BÁTOROVÁ Comenius University, Bratislava, SlovakiaISTVAN BENCZES Corvinus University, Budapest, HungaryJAN FILÁ?EK Czech National Bank, Prague, Czech RepublicROMAN HORVÁTH Czech National Bank and Institute of Economic Studies, Charles University, Prague, Czech RepublicDAVID HOWARTH School of Social and Political Studies, University of Edinburgh, UKSVATOPLUK KAPOUNEK Department of Finance, Mendel University, Brno, Czech RepublicEVZEN KO?ENDA CERGE-EI, Charles University and the Academy of Sciences, Prague, Czech Republic; The William Davidson Institute, Michigan, USA; CEPR, London, UKIIKA KORHONEN Bank of Finland, Helsinki, FinlandALI M. KUTAN Southern Illinois University Edwardsville, Illinois, USA; The Center for European Integration Studies (ZEI), Bonn, Germany; The Emerging Markets Group, London, UK; The William Davidson Institute, Michigan, USAJITKA POM?NKOVÁ Department of Statistics and Operational Analysis, Mendel University, Brno, Czech RepublicPETR ROZMAHEL Department of Economics, Mendel University, Brno, Czech RepublicMARGIT SCHRATZENSTALLER Austrian Institute of Economic Research (WIFO), Vienna, AustriaMICHAL SKO?EPA Czech National Bank and Institute of Economic Studies, Charles University, Prague, Czech RepublicMILAN SOJKA Department of Economics, MendelUniversity, Brno, Czech Republic; Charles University, Prague, Czech RepublicTANER M. YIGIT Bilkent University, Ankara, Turkey

• IntroductionPART I: EU PERSPECTIVES: SYSTEMIC PERFORMANCE AND CURRENCY ISSUESThe Swedish Economic Model: Lessons To Be Learned; K.AigingerEuropean Central Bank Inflation Target And The Economic Growth In The Eurozone; S.Kapounek and L.Lacina Real Effective Exchange Rate for the Euro: Equilibrium and Misalignment; A.Rusek Exchange rate policy strategy in the large-currency areas; S.Kapounek and J.Pom?nková Euro Area Enlargement and European Central Bank Reform; D.Howarth PART II: EU EXPANSION: NEW MEMBERS IN THE EU ENVIRONMENTFiscal Convergence in Monetary Union: Are Pilgrims to EMU Better Disciplined than Eurozone Members?; E.Ko?enda, A.M.Kutan and T.M.Yigit Business Cycles Similarity and EMU Enlargement: The Concordance Index for Central and Eastern European Countries; P.Rozmahel Monetary Policy before Euro Adoption: Challenges for EU New Members; J.Filá?ek, R.Horváth and M.Sko?epaFiscal performance and economic growth in the old and new member states of the EU; I.Benczes PART III: VARIOUS ASPECTS OF EU ECONOMIES: CHINA AND THE WORLD ECONOMY, FDIs, COMPANY TAXATION, ECB AND THE 'NEW' MEMBER STATESCompany Taxation in the European Union Current Developments and Implications for the Coordination Debate; M.Schratzenstaller Policy of the ECB and its Impact on Economic Development of New Members of EU; M.Sojka New Global Players and Disharmonies in the World Orchestra: Cohesion Analysis of Business Cycles of China; J.Fidrmuc, I.Korhonen and I.Bátorová