Showing 1 - 10 of 163
Persistent link: https://www.econbiz.de/10003353770
The answer to competition from emerging countries with low wage costs must be very different according to the affected sector. We need to draw a distinction between manufacturing industry and services that can be relocated and other sectors: consumer services, retail, construction, most business...
Persistent link: https://www.econbiz.de/10010489986
The theme of this contribution is how Europe will evolve over the next decade. The key message is that over this decade Europe will be busy digesting the 12 members that joined in 2004 and 2007. Digesting in the context means that the new members will only gradually be incorporated and...
Persistent link: https://www.econbiz.de/10010489987
Financial markets underwent significant changes worldwide within the last decades. Structural changes involving traditional operators led to modifications of the regulatory as well as supervisory settings of the financial system. Therefore, the paper tries to find a solution for a proper and...
Persistent link: https://www.econbiz.de/10010490738
The aim of this paper is to investigate how the birth of a central fiscal authority or the creation of a fiscal transfer mechanism could improve the action of fiscal policy in terms of stabilization in the EMU. In particular, the paper examines the theoretical reasons to support this conclusion...
Persistent link: https://www.econbiz.de/10010491575
This paper analyses the structural developments underlying the evolution of public finances in Germany after qualification for EMU. For this purpose, we extend a disaggregated approach to cyclical adjustment in a way that allows us inter alia to distinguish the impact of discretionary fiscal...
Persistent link: https://www.econbiz.de/10010492277
Prior to EMU, fiscal policy within the EU was disciplined by the threat of exclusion of the single currency; post-EMU, discipline has been exerted through the provisions of the Stability and Growth Pact. In this paper, we contrast the discipline induced by the two separate regimes on three...
Persistent link: https://www.econbiz.de/10010492280
Governments of most accession countries in Central and Eastern Europe initially expressed keen interest to adopt the Euro as soon as possible. The fervour seems to have cooled somewhat in the meantime. This paper will argue that there are good reasons for mixed feelings. While monetary...
Persistent link: https://www.econbiz.de/10010492292
Persistent link: https://www.econbiz.de/10010493795
The paper discusses some widely used methods for estimating output gaps based on aggregated datafor the Euro-zone. Though these methods exhibit some common features, an empirical comparisondemonstrates that the various techniques differ substantially. In particular, the correlation of output...
Persistent link: https://www.econbiz.de/10010493796