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This paper explores the conflict of real and monetary convergence during the EMU run-up of the Central and Eastern European new EU member states. Based on a Balassa-Samuelson model of productivity driven inflation, it finds a high probability of higher inflation in the new member states. It...
Persistent link: https://www.econbiz.de/10014064076
Since the breakdown of the Bretton Woods System diverging current account positions in Europe have prevailed. While the Southern and Western European countries have tended to run current account deficits, the current accounts of the Central and Northern European countries, in particular Germany,...
Persistent link: https://www.econbiz.de/10009702880
The East Asian monetary integration process is at the crossroads. Given very benign liquidity conditions in the US, the prevailing common US dollar peg has contributed to growing macroeconomic and financial instability in the region. This has sparked demands to embark on an independent monetary...
Persistent link: https://www.econbiz.de/10013054018
Persistent link: https://www.econbiz.de/10002415582
. In Mittel- und Osteuropa, Ostasien, Lateinamerika und den rohstoffexportierenden Ländern werden Wachstumsprozesse durch …, schienen die Grenzen des kapitalmarktbasierten Wachstumsmodells absehbar. Michael Knogler, Osteuropa-Institut, Regensburg … Auslandsengagements in Mittel- und Osteuropa deutlich zurückfahren, so dass eine Reduzierung des Potentialwachstums und damit eine …
Persistent link: https://www.econbiz.de/10003947372
Persistent link: https://www.econbiz.de/10003208796
This paper explores the conflict of real and monetary convergence during the EMU run-up of the Central and Eastern European member states. Using a Balassa-Samuelson model of productivity driven inflation, we find a high probability of higher inflation in the new member states. We compare the...
Persistent link: https://www.econbiz.de/10014060964
The paper scrutinizes the role of wages and capital flows for competitiveness in the new EU member states in the context of real convergence. For this purpose it extends the seminal Balassa-Samuelson model by international capital markets. The augmented Balassa-Samuelson model is linked to the...
Persistent link: https://www.econbiz.de/10013154599
The paper scrutinizes the role of wages and capital flows for competitiveness in the new EU member states in the context of real convergence. For this purpose it extends the seminal Balassa-Samuelson model by international capital markets. The augmented Balassa-Samuelson model is linked to the...
Persistent link: https://www.econbiz.de/10013155099
The paper scrutinizes the role of wages and capital flows for competitiveness in the new EU member states in the context of real convergence. For this purpose it extends the seminal Balassa-Samuelson model by international capital markets. The augmented Balassa-Samuelson model is linked to the...
Persistent link: https://www.econbiz.de/10013316298