-ins for monetary union with respect to Germany. Using tests for cointegration and common features for monthly data during the …

of Brent crude oil have on inbound tourism demand (tourist arrivals) from Poland, Slovakia, Germany, and Austria in the … variable are considered. To achieve this aim, cointegration analysis under the VECM approach is applied. The results show that … negatively to changes in tourism prices in the Czech Republic. Tourists from Germany and Poland do not respond to changes in the …

(Fisher parity) between Poland and Germany. The international parity relations are investigated jointly within the ….e. Polish) and foreign (i.e. German) inflation and the domestic interest rate and one that brings together the domestic real … interest rate and the foreign inflation. Another interesting result is the weak exogeneity of the deviation of the real …

Summary This paper analyses the inflation rate in Germany by means of a common trends model. Starting from an IS …-LM model of the open economy, we conduct a cointegration analysis from which we obtain plausible long-run relationships. In the … next step, we identify structural shocks with permanent and transitory effects and study their impacts on the inflation …