In dieser Studie werden die Zusammenhänge zwischen der Innovationsdynamik, den technologischen sowie wirtschaftlichen Spezialisierungen und der Wirtschaftswachstums- und Produktivitätsentwicklungen für die EU15-Staaten theoretisch und empirisch untersucht. Ausgehend von einer umfassenden...

We analyze the importance of global shocks for the global economy and national policy makers. More specifically, we investigate whether monetary policy has become less effective in the wake of financial globalization. We also examine whether there is increasing uncertainty for central banks due...

This paper analyses the Balassa and Samuelson hypothesis in two groups of European countries: six New Member States (NMS) and six advanced EU-15 economies. It is found that the second stage of the hypothesis, which relates relative sector prices with the real exchange rate, does not hold...