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Fragmentation, globalization and labor markets

Burda, Michael C.; Dluhosch, Barbara - 2001 - Rev.

Fragmentation of the value-added-chain is modeled as the reaction of monopolistically competitive firms to the removal … of barriers to trade and factor mobility in an integrated trading environment. Since fragmentation requires high …. In the short run, it is likely that fragmentation will be accompanied by an increase in high and low-skilled service …

Persistent link: https://www.econbiz.de/10009614300

European labor markets and the Euro : how much flexibility do we really need?

Burda, Michael C. - 1999

Widespread concern over real effects of EMU is consistent with new Keynesian approaches to macroeconomic fluctuations, but more difficult to reconcile with a real business cycle (RBC) paradigm. Using a model with frictions as a point of departure, I argue that nominal price rigidity in Europe is...

Persistent link: https://www.econbiz.de/10009580474

Stabilization policy and business cycle phases in Europe : a Markov Switching VAR analysis

Beine, Michel; Candelon, Bertrand; Sekkat, Khalid - 1999

Most of the empirical studies dealing with international business cycles have disregarded the credibility issues that play an important role in the decision to join or not a monetary union. Most of empirical applications based on asymmetric shocks have failed to account for these aspects. In...

Persistent link: https://www.econbiz.de/10009582416

Cost competition, fragmentation and globalization

Burda, Michael C.; Dluhosch, Barbara - 2001 - Rev.

fragmentation of the value-added chain. Fragmentation is the outcome of cost competition - the profit-maximizing choice of cost … of production stages. While increased trade is likely to induce fragmentation when the number of firms is fixed, free …

Persistent link: https://www.econbiz.de/10009613595

Money and prices : an I(2) analysis for the euro area

Holtemöller, Oliver - 2002

The concept of integrated stochastic processes is widely used in empirical macroeconomics; and cointegration analysis is an important framework to analyze economic time series both in single equation and in system approaches. This framework is not only suited to study the relationships between...

Persistent link: https://www.econbiz.de/10009620770

The empirical determinants of the Euro : short and long run perspectives

Chinn, Menzie David - 2000

The behavior of the dollar/euro exchange rate is modeled using a monetary model of the exchange rate. The econometric analysis is complicated by the short sample span of actual euro data available for analysis. Hence, data on a "synthetic" euro are used. The assumptions underlying the monetary...

Persistent link: https://www.econbiz.de/10009583879

Money demand in Europe : evidence from the past

Müller-Kademann, Christian; Hahn, Elke - 2000

The conditions under which European monetary policy is likely to be conducted are investigated by means of multi-variate time series modelling using aggregated data of all eleven European Monetary Union member states. A cointegration analysis identifies two stable long-run relationships within a...

Persistent link: https://www.econbiz.de/10009583887

Uncovered interest rate parity and analysis of monetary convergence of potential EMU accession countries

Holtemöller, Oliver (contributor) - 2003 - [Elektronische Ressource]

Persistent link: https://www.econbiz.de/10001916957

Inflation expectations in the EU : results from survey data

Nielsen, Hannah (contributor) - 2003 - [Elektronische Ressource]

Persistent link: https://www.econbiz.de/10001919145

Quantile hedging

Föllmer, Hans; Leukert, Peter - 1998

In a complete financial market every contingent claim can be hedged perfectly. In an incomplete market it is possible to stay on the safe side by superhedging. But such strategies may require a large amount of initial capital. Here we study the question what an investor can do who is unwilling...

Persistent link: https://www.econbiz.de/10009574876

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