Showing 1 - 10 of 17
While the old systems competition took place with closed borders, globalisation has brought about a new type of systems … competition that is driven by the mobility of factors of production. The new systems competition will likely imply the erosion of … induced the respective government activity in the first place. The new systems competition will force inefficient governments …
Persistent link: https://www.econbiz.de/10011408441
Open borders imply systems competition. This paper studies the implications of systems competition for the national co …
Persistent link: https://www.econbiz.de/10009781687
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This paper reconsiders the determinants of the exchange rate by studying the historical episode after the fall of the Iron Curtain. Testing a modified portfolio balance model, we attribute the strength of the deutschmark in the early nineties and the puzzling decline of the euro during its...
Persistent link: https://www.econbiz.de/10011398903
As a result of the Balassa effect relative prices change rapidly between and within the euro countries. Thus it is impossible to find a common monetary policy that will result in price stability in all countries. Based on empirical estimates of the Balassa model, the paper calculates a minimum...
Persistent link: https://www.econbiz.de/10009786718
The forces of the market and systems competition bring about economic and social convergence in Europe. There is no …
Persistent link: https://www.econbiz.de/10011507973
The paper deals with the effects of migration resulting from EU Eastern enlargement on the welfare states of Western Europe. Although migration is good in principle, as it yields gains from trade and specialization for all countries involved, it does so only if it meets with flexible labour...
Persistent link: https://www.econbiz.de/10002523041
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