The future international climate policy architecture will most likely consist of partial climate policy initiatives like the EU's Emission Trading System. Trade integration threatens to undermine these systems' environmental effectiveness by shifting emissions to other countries. We estimate a...

This paper uses panel vector autoregressive models and simulations of an estimated DSGE model to explore the reaction of Euro area banks to the global financial crisis. We focus on their interest rate setting behavior in response to standard macroeconomic shocks. Our main empirical finding is...

This paper analyses the importance of German wage moderation in the context of European imbalances. Using information from a New Keynesian small open economy model with labor market frictions, we derive sign restrictions for a wage markup shock. This information enables us to identify a German...

We study the effect of international trade and freeness of trade on interregional inequality within countries. We estimate a model derived from a structural economic geography approach where interregional inequality depends on weighted trade shares and trade costs and where we can derive an...

Mit diesem Tagungsband "brain drain oder brain circulation?" werden ausgewählte Vorträge einer breiteren Fachöffentlichkeit vorgestellt, die im Rahmen des gleichnamigen Workshops am 9. und 10. November 2006 in Halle (Saale) vor etwa 70 Teilnehmern gehalten und diskutiert wurden. Gemeinsame...