Die vorliegende Dissertation zu makroökonomischen Themen beinhaltet einen einleitenden Literaturüberblick, drei eigenständige und voneinander unabhängige Kapitel sowie einen technischen Anhang. In Kapitel zwei wird ein Zwei-Länder Modell einer Währungsunion betrachtet, in dem die...

In ihrer nunmehr über 125-jährigen Unternehmensgeschichte besaß die Sicherung der Rohstoffversorgung einen hohen Stellenwert innerhalb der strategischen Unternehmensführung der Henkel-Gruppe. Die größten strategischen Aufwendungen zur Rohstoffsicherung unternahm die Henkel-Gruppe auf dem...

Die Dissertation versucht, durch eine Synthese aus Entwicklungs- und Systemtheorie in Kombination mit Umselt?konomie einen alternativen Ansatz f?r die Erkl?rung von wirtschaftlicher Entwicklung allgemein und den Aufstieg der japanischen Umweltindustrie im besonderen zu finden. Neben einem...

This paper compares the P-bar model of price adjustment with the currently dominant Calvo specification. Theoretically, the P-bar model is more attractive as it depends on adjustment costs for physical quantities rather than nominal prices, while incorporating a one-period information lag....

George Zis, David Cobham and Athanasios Papadopoulos. The cost of political intervention in monetary policy. International Finance, 2004, vol. 7, no. 3, pages 471-493. Published by and copyright Wiley-Blackwell Publishing. The definitive version of this article is available from...

At our first meeting, ten years ago, we offered a medium-term strategy for ending inflation and restoring productive growth to its long-term average. The rate of inflation for the previous three years was, then, about 5 1/2%. The average rate of money growth -- currency and checkable deposits --...

There are no good monetary policy options. Since policymakers must choose between alternative policies with undesirable consequences, there is no reason to assume that a single option will be selected and adhered to. Rather, policies will continue to alternate between "spurts" of monetary growth...

At the last meeting of this committee, we presented forecasts for the M 1 - Adjusted Monetary Base Multiplier in seasonally adjusted form for the first time. The seasonal adjustment was accomplished by utilizing the published seasonal factors for various components of the monety stock as...

The economy is sound structurally, but weak cyclically. The probability of recession remains relatively low, as heightened business efficiencies and the Federal Reserve's disinflationary monetary policy have reduced potentially disruptive imbalances in the economy. However, the Fed's sustained...