Im Dezember vergangenen Jahres hat das Europäische Parlament einer Vorlage der Europäischen Kommission zugestimmt, wonach die Schutzrechte für das Design von Auto-Ersatzteilen eingeschränkt werden sollen. Für Ersatzteile, deren Design maßgeblich für ihre Funktionalität oder ihr äußeres...

Das reibungslose Zusammenarbeiten von Programmen unterschiedlicher Hersteller ist für die Softwareindustrie von zentraler Bedeutung. Standards für Dokumentenformate, Kommunikationsprotokolle und Programmschnittstellen sichern die Interoperabilität von Systemen. Wettbewerbspolitisch stellen...

This paper brings together several strands of the literature on the endogenous effects of monetary integration: i.e., whether sharing a single currency may set in motion forces bringing countries closer together. The start of EMU has spurred a new interest in this debate. Four areas are...

This paper analyses the response of inflation in the euro area to five macroeconomic shocks through the use of results derived from Eurosystem large-scale macroeconomic models. The main finding is that only a fiscal shock, and to a lesser extent a TFP shock, generate marked inflation...

This paper explores whether there are systematic patterns as to when members of the decision-making committees of the Federal Reserve, the Bank of England and the European Central Bank communicate with the public, and under what circumstances such communication has the ability to move financial...

This paper examines bond and stock market volatility reactions in the euro area and the US following their respective economies’ monetary policy decisions, over a uniform sample period (April 1999 to May 2006). For this purpose, intraday data on the US and euro area bond and stock markets are...

This paper presents a systematic empirical relationship between money and subsequent prices and output, using US, euro area and Swiss data since the 1960-70s. Monetary developments, unlike interest rate stance measures, are shown to provide qualitative and quantitative information on subsequent...

Using intra-day data, we assess the impact of the press release on euro area monetary data on the different segments of the euro area yield curve. For this purpose, we estimate a relation between the “news” or “surprise” in the released data for annual M3 growth and the move in the...