-WOODS - 3. THEORIE DER ZIELZONEN - 4. WECHSELKURSSPEKULATION IM KRUGMAN-MODELL - 5. WECHSELKURSSPEKULATION IN ZIELZONEN ALS … analysed:1. INTRODUCTION - 2. THE DISCUSSION ABOUT TARGET ZONES IN THE POST BRETTON WOODS ERA - 3. TARGET ZONE THEORY - 4 …

explaining exchange rate movements. The asset market theory of exchange rate determination implies that exchange rates are mainly … driven by the development of macroeconomic fundamentals. Furthermore the asset market theory assumes that foreign exchange … speculation, economic theory states that speculation can have either a stabilizing effect or a destabilizing effect on exchange …

standard and international trade. The estimation results allow us to formulate some interesting policy conclusions. …

, output decreases in most subsectors after a restrictive monetary shock. The sectors of electrical and electronic equipment … be explained by the fact that monetary policy works mainly as supply shock in some subsectors. But the identified price … subsectors, at least not given the used identification strategy. This could be due to the fact that this theory regards the …

existing theoretical literature on innovation and entrepreneurship. It summarizes some of the main findings of the effect of … various means of protecting intellectual property on the innovation incentives and the level of entrepreneurship activity. A … resulting prediction is that perfect protection leads to higher innovation incentives. This is puzzling in light of the …

these sectors respond through the monetary policy channel to a shock in the real exchange rate. A VAR model is constructed … using quarterly data of the U.S. foreign trade from 1976Q2 to 2005Q1. The results show that a shock to the real exchange … foreign goods. The third essay examines the key forces driving innovation among entrepreneurs of ICT (information and …

GMM method of econometric estimation. Multiple measuresof performance and leverage are utilized, controlling …