Founded by the late Karl Brunner in 1970, the Konstanz Seminar celebrated its thirtieth anniversary in 1999. Brunner started the Seminar with two objectives, to close the gap in the quality of research and teaching of economics between the United States and Europe, Germany and Switzerland in...

Founded by the late Karl Brunner in 1970, the Konstanz Seminar celebrated its thirtieth anniversary in 1999. Brunner started the Seminar with two objectives, to close the gap in the quality of research and teaching of economics between the United States and Europe, Germany and Switzerland in...

An inflation and stabilization bias may arise as a result of the principal-agent nature of monetary policy. Both depend on the degree of political uncertainty and the type of relationship between central bankers and the incumbent political leaders. Specifically, our analysis indicates how a...

This paper discusses the strategic choices involved in the transformation of the current EMS into a European Monetary Union. Alternative strategy proposals are evaluated under the criteria of credibility, flexibility, effective institution-building and mitigation of end games. The Delors...