We present a two-country New Open Economy Macro model of the Austrian economy within the European Union's Economic & Monetary Union (EMU). The model includes both nominal and real frictions that have proven to be important in matching business cycle facts, and that allows for an investigation of...

Based on the gravity model by Baier and Bergstrand (2001), we use a static and dynamic panel approach to estimate the determinants of the growth of intra-EU trade from 1960 to 2000. The results suggest that income growth was the major force, accounting for approximately two-thirds of total...

We present a two-country New Open Economy Macro model of the Austrian economy within the European Union's Economic & Monetary Union (EMU). The model includes both nominal and real frictions that have proven to be important in matching business cycle facts, and that allows for an investigation of...

Die EU hat sich mit der Lissabon-Strategie bis 2010 ehrgeizige Ziele gesetzt. Die Union soll zum wettbewerbsfähigsten Wirtschaftsraum der Welt, der am schnellsten wächst und auch die hohen Sozialstandards beibehält, werden. Zusätzlich sollte die Wirtschaftsentwicklung auch umweltschonend,...

We present a two-country New Open Economy Macro model of the Austrian economy within the European Union's Economic & Monetary Union (EMU). The model includes both nominal and real frictions that have proven to be important in matching business cycle facts, and that allows for an investigation of...

Die EU hat sich mit der Lissabon-Strategie bis 2010 ehrgeizige Ziele gesetzt. Die Union soll zum wettbewerbsfähigsten Wirtschaftsraum der Welt, der am schnellsten wächst und auch die hohen Sozialstandards beibehält, werden. Zusätzlich sollte die Wirtschaftsentwicklung auch umweltschonend,...

Since its inception in 1995, more than 330 disputes have been raised under the WTO Dispute Settlement System. The major players in world trade – the EU and the USA – are also the busiest users of this instrument. After looking at links between economic integration and WTO involvement and a...

This paper analyses the effects of Agenda 2000's policy reform on the stocks of outward FDI to the European Union member countries. In a three-factors proximity-concentration New Trade Theory model we indentify the channels of influence on the FDI decision. In the empirical part, we estimate a...

The envisaged EU enlargement will lead to a redirection of Structural and Cohesion Funds expenditures from current to new EUmembers. This redistribution of funds makes the accession countries even more attractive as a location of FDI. Using a logistic regressions approach, this paper shows that...