The paper provides an overview of the development of public procurement (PP) rules in the EU and in selected international organisations. The EU rules were originally designed to foster competition and efficiency, and the dominant award criterion was the price. Over time, and in particular in...

In the wake of monetary integration in Europe, Austria abandoned the tested hard currency policy (HCP) for joining EMU as a member. The final target of monetary policy and real sector adjustment needs are similar in both regimes, and the HCP may therefore be viewed as a convenient "training...

The obvious difference in the economic performance of countries has led to the question why some countries are so much wealthier than others, and whether the size, the structure, and the organisation of the public sector contribute to cross-country income and growth gaps. Public sector...

To fulfil their tasks, governments rely on public expenditures and taxes. Both influence the incentives and shape the decisions and actions of private economic agents. As governments resort to both instruments simultaneously, their combined theoretical impact on economic performance is a priori...

Die wirtschaftlichen Zusammenhänge rund um das Entstehen des europäischen Währungssystems bilden den Hintergrund für eine Untersuchung der Parallelen und Unterschiede in der Währungspolitik Deutschlands und Österreichs. Dabei wird auf die Hauptlinien des Ringens um die währungspolitische...

The current paper analyses the similarities between the Bretton Woods system (BWS) and the Eurozone and looks into the future of the world monetary system. The gold standard, the Keynes Plan and the White Plan are identified as the most important sources of ideas that formed the BWS. Although...

Soon after the establishment of the Eurozone it became obvious that the structural differences between member countries would not abate, as expected, but rather gradually widen. Although part of the problem can be attributed to the enlargement process, it also relates to asymmetric effects of...

Political opposition to globalisation has risen in industrialized countries, although the positive overall effects on the growth of the world economy and the alleviation of poverty are empirically verifiable. However, the effects of globalisation vary according to regions, professional groups,...

Auf der Grundlage einer unzureichend gefestigten "europäischen Identität" sah sich die Europäische Union in den vergangenen Jahren etlichen Herausforderungen gegenüber: der Globalisierung, der Finanzkrise, der Migration und dem populistischen Nationalismus, dem Brexit sowie der...