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We analyze the determinants of the cyclical position in some Baltics and South-Eastern European countries as well as peripheral European countries over the period 2000–2013. Specifically, we consider a sample of eight economies: Croatia, Estonia, Latvia, and Lithuania for the sub-sample of Baltics and South-Eastern European economies; and Greece, Ireland, Portugal, and Spain for the sub-sample covering EMU peripheral countries. To this end, we proceed in two steps. In the first, we simulate Taylor rules for each studied countries in order to see to what extent the effective monetary policy has suffered from an expansionary bias. Such analysis is conducted for both peripheral and Central, Eastern, and South-Eastern Europe (CESE) countries. In a second step, we compare the simulated Taylor rules for our selected CESE countries with the Eurozone Taylor rule. Our contribution is threefold. First we show that the ineffectiveness of monetary policy to face imbalances – and especially financial imbalances – suggest that the EU should adopt macroprudential measures. Second, the experience of CESE and Peripheral countries suggests that fiscal policy has tended to be pro-cyclical or at least neutral. Third, we underline the importance of using the Macroeconomic Imbalance Procedure as a tool to implement automatic adjustment mechanisms.

In the last two decades, a new form of organization has progressively become predominant on many global markets: networks. Very few worker co-operatives have adopted such a pattern though, despite the fact that, as the theoretical literature shows, the advantages of network industrial structures are numerous and networking can be considered a necessity in the context of globalization. After introducing a new framework for analyzing networks, we argue that combining several dimensions of integration has been an important factor of efficiency in three case studies: Mondragon Corporacion Cooperativa, the industrial districts of Emilia-Romagna, and Scop Entreprises.