Showing 1 - 5 of 5
This paper highlights key macroeconomic issues related to VAT harmonization. A model is developed which emphasizes the effects of changes in the time profile of various taxes on international behavior. Dynamic simulations reveal that the macroeconomic and welfare implications of VAT...
Persistent link: https://www.econbiz.de/10005264214
This study identifies the key characteristics of a successful exchange rate system. It focuses on regimes in the industrial countries and consider the implications for the operation of the international monetary system.
Persistent link: https://www.econbiz.de/10005824855
This paper identifies obstacles hindering the transformation of centrally-planned economies (CPEs) into well-functioning market economies. The obstacles identified relate to (i) anticipatory dynamics, (ii) monetary overhang and the budget, and (iii) underdeveloped credit markets. It is...
Persistent link: https://www.econbiz.de/10005826314
This paper discusses key issues relating to the design and implementation of monetary policy in an emerging European economic and monetary union. Specific institutional proposals for transition to EMU are neither endorsed nor dismissed. In examining the goals of monetary policy, the paper...
Persistent link: https://www.econbiz.de/10005768900
This paper deals with the early stages of transformation of centrally-planned economies (CPEs) into market economies during which expectations play a key role. It focuses on the transitional phase during which the economy is not any more a CPE but has not yet become a market economy. During this...
Persistent link: https://www.econbiz.de/10005605172