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Using the seminal work of Blanchard and Katz on regional development as a frame a small number of macro economic key figures are looked upon for Bornholm, the Capital Area and the country. The model used is presented and even though the analysed time period is short, a comparison is made with...
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This paper takes a first step in analysing how a monetary union performs in the presence of labour market asymmetries. Differences in wage flexibility, market power and country sizes are allowed for in a setting with both country-specific and aggregate shocks. The implications of asymmetries for...
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After home rule in 1979 Greenland gradually takes over expenditure of general government from Denmark during the 1980ies. Step by step Denmark gives a subsidy to Greenland covering what were the Danish expenditures. Nearly the entire subsidy comes in four lumps, 1980, 1985, 1987 and 1992....
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One of the most important aims of monetary policy of the Bank of Russia is to reduce CPI inflation under simultaneous … usage of additional instrument, it is unclear whether Central bank can influence inflation processes at all. The work … inquires into how inflation is influenced by credit aggregates, oil prices and exchange rate as the major factors limiting …
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