at wage of 0 in all states of the world. In addition he incurs a utility loss (for example search costs associated with … ofiered by flrms to their managers, managerial efiort, and pro- cess innovation. According to the theory the value of a cost … United States constitutes the world’s largest bi-lateral trade relationship ever. The U.S. constitutes, by far, Canada’s most …

In this paper, a short survey is given on the contents and some problems of the theory of optimal currency areas. In … conventional theory is inspired by a phenomenon that can be observed for example in Germany but also in other European countries … the nominal exchange rate. The conventional theory with the focus on private agents' behaviour - e.g. in the context of …