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...

Prisdannelsen og faktorefterspørgslen i Det økonomiske Råds sekretariats SMEC-model af dansk <p> økonomi har siden 1998 været teoretisk begrundet i en underliggende Cobb-Douglas teknologi (i <p> kombination med en antagelse om omkostningsminimering). I SMEC-forgængeren SMEC 94 var det <p> derimod...</p></p></p>

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....