Die vorliegende kurze Studie zielt darauf ab, die Erfahrungen Japans, Westeuropas und Nordamerikas mit flexiblen Wechselkursen darzustellen und zu untersuchen, wie effizient das System flexibler Kurse im Hinblick auf die wirtschaftspolitischen Ziele gewesen ist. Der Aufbau dieser Studie ist wie...

In this statement the European Shadow Financial Regulatory Committee (ESFRC) is advocating a conditional relief of Greek's government debt based on Greece meeting certain targets for structural economic reforms in areas such as its labor market and pensions sector.The authors argue that the...

Many Europeans today ask why the European Community chose the bold strategy of pursuing an Economic and Monetary Union at a time when a number of political and economic issues had not yet been resolved. Many economists like to think that the economic case for EMU was weak and that the decision...

Niels Thygesen (born 1934) played for nearly five decades an influential role in the process of economic and monetary integration in Europe. He is especially known as a member of the Delors Committee and as the first Chair of the European Fiscal Board. As part of a research program on collecting...

The paper initially discusses monetary policies in the context of the wide margins introduced on 1 August 1993. The new President of the European Monetary Institute (EMI) has suggested that a number of stringent non-monetary conditions must be met before there can be a return to narrow margins....