Labor mobility is commonly taken as a property of an optimal currency area. But how does that property affect the outcome of fiscal policies? In our model, we show that perfect (costless) labour mobility is not necessarily welfare improving, since it prevents the national fiscal authorities from...

Labor mobility is commonly taken as a property of an optimal currency area. But how does that property affect the outcome of fiscal policies? We address this issue with a two country - two period model, where both asymmetric and symmetric productivity shocks may hit the countries. We show that...

Labor mobility is commonly taken as a property of an optimal currency area. But how does that property affect the outcome of fiscal policies? In our model, we show that perfect (costless) labour mobility is not necessarily welfare improving, since it prevents the national fiscal authorities from...

Der vorliegende Bericht analysiert notwendige Rahmenbedingungen und arbeitet die Voraussetzungen heraus, die die ost- und mitteleuropäischen Länder erfüllen müssen, um am Wirtschaftsraum der Europäischen Union teilzunehmen. In diesem Zusammenhang wird geprüft, bei welchen Gütergruppen...