This paper analyses the prospects and problems of a Transatlantic Free Trade Area (TAFTA) between the European Union and the United States. Possible economic reasons for the proposal of TAFFA such as the intensity of bilateral trade and a strong interdependence in investment flows and the...

East Germany can be considered as a laboratory experiment in the economics of transition. Of the three major issues of economic reform in the transformation process (Siebert 1991c), two were solved nearly instantaneously. Monetary stabilization was achieved by extending the currency area of the...

In this paper, we consider the case of a resource-exporting country that invests part of its resource earnings in the international capital market. We can show that the recycling of Hotelling rents introduces an incentive to supply more resources today and thus alleviates the resource shortage...

This paper analyzes rules for international factor movements, i.e. real capital flows together with the relocation of firms, the flow of technology and the migration of people. These rules have to make sure that individuals, individual countries as well as the world economy benefit from factor...

Die Diskussion um flexible versus fixe Wechselkurse und die Bemühungen um stabilere Wechselkurse, etwa im Rahmen des europäischen WährungsSystems, durch Präferenzzonen (Williamson 1985) oder einen Goldstandard ohne Gold (McKinnon 1988) geben der Literatur um die Mechanismen zum Ausgleich der...

Protektionistische Maßnahmen zur Beseitigung von Handelsbilanzdefiziten und zum Schutz heimischer Wirtschaftszweige haben unerwünschte Wechselkurseffekte, die in der öffentlichen Diskussion nicht genügend beachtet werden. Solche Maßnahmen verschaffen zwar den geschützten...