Similar Search Results

Obstfeld, Maurice - 1999

In this paper I focus on two specific hazard areas in the transition from Stage Two to Stage Three of European economic and monetary union (EMU), as well as on some key problems of Stage Three that EMU's monetary and fiscal structures appear ill-prepared to handle. The transitional hazards are...

Persistent link: https://www.econbiz.de/10012471509

Regional Nonadjustment and Fiscal Policy : Lessons for EMU

Obstfeld, Maurice - 1999

pattern of the United States. In this paper we compare the US with Germany, Italy, the United Kingdom, and also with Canada …

Persistent link: https://www.econbiz.de/10012471641

A Strategy for Launching the Euro

Obstfeld, Maurice - 1999

This paper analyzes the constraints European Union law places on the 1 January 1999" choices of irrevocably fixed conversion rates between the Euro and the currencies of EMU" member states. Current EU legislation, notably the Maastricht treaty bilateral currency conversion factors implied by the...

Persistent link: https://www.econbiz.de/10012471816

The Euro and The Geography of International Debt Flows

Hale, Galina - 2014

Greater financial integration between core and peripheral EMU members not only had an effect on both sets of countries but also spilled over beyond the euro area. Lower interest rates allowed peripheral countries to run bigger deficits, which inflated their economies by allowing credit booms....

Persistent link: https://www.econbiz.de/10012458631

Exchange Rates, Inflation and the Sterilization Problem : Germany, 1975-1981

Obstfeld, Maurice - 1982

When the goals of internal and external macroeconomic equilibrium are in conflict, sterilized intervention in the foreign exchange market may provide an independent policy instrument through which the central bank can resolve its dilemma in the short run. This paper is concerned with the West...

Persistent link: https://www.econbiz.de/10012478142

Sterilization and Offsetting Capital Movements : Evidence from West Germany, 1960-1970

Obstfeld, Maurice - 1980

The purpose of this paper is two fold. First, to estimate, using structural methods, the extent to which capital flows undermined West German monetary policy during the Bretton Woods years 1960 to 1970 and second, to show that earlier reduced form estimates of the capital-account offset...

Persistent link: https://www.econbiz.de/10012478642

Zero Returns to Compulsory Schooling In Germany : Evidence and Interpretation

Pischke, Jorn-Steffen - 2005

the range of 10 to 15 percent. We find no return to compulsory schooling in Germany in terms of higher wages. We … investigate whether this is due to labor market institutions or the existence of the apprenticeship training system in Germany … most relevant for the labor market are learned earlier in Germany than in other countries …

Persistent link: https://www.econbiz.de/10012467265

The Impact of Length of the School Year on Student Performance and Earnings : Evidence from the German Short School Year

Pischke, Jorn-Steffen - 2003

This paper investigates how changing the length of the school year, leaving the basic curriculum unchanged, affects learning and subsequent earnings. I use variation introduced by the West-German short school years in 1966-67, which exposed some students to a total of about two thirds of a year...

Persistent link: https://www.econbiz.de/10012468733

Continuous Training in Germany

Pischke, Jorn-Steffen - 1996

training received by workers in Germany between 1986 and 1989. Further training is primarily a white collar phenomenon, is …

Persistent link: https://www.econbiz.de/10012472999

The Returns to Computer Use Revisited : Have Pencils Changed the Wage Structure Too?

DiNardo, John E. - 1996

unobserved heterogeneity? We examine this issue with three large cross-sectional surveys from Germany. First, we confirm that the … estimated wage differentials associated with computer use in Germany are very similar to the U.S. differential. Second, using …

Persistent link: https://www.econbiz.de/10012473239