European monetary integration Economic performance and stabilization policy in a monetary union with imperfect labor and goods markets Fabrizio Coricelli Alex Cukierman and Alberto Dalmazzo ; Discussant: Erkki Koskela Asymmetric transmission of monetary policy: what should the ECB do if one size does not fit all Daniel Gros and Carsten Hefeker ; Discussant: Jørgen Elmeskov Is the ECB too decentralized Jakob de Haan Helge Berger and Robert Inklaar ; Discussant: Mika Widgrén Fiscal aspects of Central Bank independence Christopher A. Sims ; Discussant: Svend E. Hougarrd Jensen Seignorage wealth in the Eurosystem: eurowinners and eurolosers revisited Hans Werner Sinn and Holger Feist ; Discussant: Jouko Vilmunen Financial fragility bubbles and monetary policy Gerhard Illing ; Discussant: Phillippe Bacchetta