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The EMU Consolidation Game - or: Does 3.0 Really Mean 3.0?

Heinemann, Friedrich - 1998

Within the economic profession, it is a widely held view that the fiscal criteria of the Maastricht treaty are arbitrary numbers without economic foundation. Much of this criticism seems to overlook an important aspect - the strategic dimension of the criteria. This paper focuses on one...

Persistent link: https://www.econbiz.de/10010297571

Die Theorie der optimalen Währungsräume und die politische Reformfähigkeit: Ein vernachlässigtes Kriterium

Heinemann, Friedrich - 1998

In diesem Beitrag wird neben einem kurzen Überblick über die Argumentationsweise und Probleme der Theorie optimaler … vor allem der Lohnflexibilität, aus. Aus dieser Erweiterung der Theorie der optimalen Währungsräume resultiert Skepsis …In this paper, a short survey is given on the contents and some problems of the theory of optimal currency areas. In …

Persistent link: https://www.econbiz.de/10010297572

EMU and fiscal discipline: the end of the depreciation threat

Heinemann, Friedrich - 1998

Are the characteristics of the exchange rate regime relevant for the degree of fiscal discipline? What are the conclusions for fiscal behavior in Europe after the transition to EMU? These are the central questions that are analyzed in this paper from a theoretical point of view. After a general...

Persistent link: https://www.econbiz.de/10010297592

Die Psychologie irrationaler Wirtschaftspolitik am Beispiel des Reformstaus

Heinemann, Friedrich - 2000

Psychologische Studien belegen vielfältige Abweichungen menschlicher Denk- und Verhaltensweisen von den üblichen Rationalitätsannahmen ökonomischer Modelle. Die traditionelle Ökonomie begegnet diesen Hinweisen begrenzter Rationalität mit Zurückhaltung, auch wenn derartige Ansätze...

Persistent link: https://www.econbiz.de/10010297673

Public deficits and borrowing costs: the missing half of market discipline

Heinemann, Friedrich; Winschel, Viktor - 2001

EMU driven interest rate convergence has led to a significant reduction of borrowing costs for some European governments in the second half of the nineties. The paper deals with the possible consequences for deficit behaviour. Although the impact of interest rates on deficits is a crucial...

Persistent link: https://www.econbiz.de/10010297752