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Reserve in den USA vorgeschlagen. Der dortige Ausgleichsmechanismus ist jedoch rein bilanzieller Natur und führt lediglich zu …
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optimalen Währungsraum erfüllt. Demgegenüber sind die USA ein funktionierendes Währungsgebiet, obwohl sich wichtige … wirtschaftliche Kennziffern zwischen den einzelnen Bundesstaaten deutlich unterscheiden. Allerdings wirken in den USA …
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Chapter 1 provides an overview and assessment of the price competitiveness and export performance of the euro area and the larger euro area countries, as well as an evaluation of how standard equations have been able to explain actual export developments. Chapter 2 carries out a constant market...
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This paper examines the role of government wages in ensuring macroeconomic stability and competitiveness in the euro area. Recent empirical evidence suggests that government wage expenditure is subject to a pro-cyclical bias in most euro area countries and at the euro area aggregate level....
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-making function, i.e. the ECB and the central banks of the four G7 countries outside the euro area (the US, UK, Japan and Canada). The … paper first reviews the objectives of and arrangements for central bank/government cooperation in the US, UK, Japan and …
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