This paper investigates the pricy-setting behavior of suppliers of imports. The ad-hoc estimation of error-correction models for the U.S., Japan, Germany, France, and Italy indicates that changes in the real exchange rate are not fully passed through into import prices, not even in the long run....

This paper addresses the lackluster performance concerning per capita growth and employment performance of Continental Europe countries compaed to Anglo-Saxon countries over the last decades which is in stark contrast to the post-war period. It analyzes institutional differences between country...