In diesem Beitrag wird anhand verschiedener Unternehmensinteressen untersucht, welche Unternehmen vom Euro profitieren und welche nicht. Im Ergebnis ist die Gemeinschaftswährung vor allem für exportstarke Unternehmen in exportstarken Ländern wie Deutschland von Vorteil, was ihre Befürwortung...

Using a New-Keynesian framework, we investigate how far the inflationary processes in member states of EMU cause regional price levels to converge. We fail to produce hard evidence of the present existence of such an adjustment mechanism, notwithstanding that inflation in some countries tends to...

This paper shows that the credibility gain from permanently committing to a fixed exchange rate by joining the European Monetary Union can outweigh the loss from giving up independent monetary policy. When the central bank enjoys only limited credibility a pegged exchange rate regime yields a...

We assess monetary convergence preceding the implementation of the European Monetary Union (EMU) through Kalman filtering estimates of the risk premium of eleven forward exchange rates of European and non-European currencies. Since all participating currencies are in effect identical from...

The euro area has several problems. Nevertheless, there is not only strong political support for it, but also most companies back the euro or at least do not complain. It is worthwhile to analyse which companies do profit from the euro and why most others do not oppose it. Exporting companies in...

Vortrag von Prof. Dr. Dietrich Murswiek, Geschäftsführender Direktor des Instituts für Öffentliches Recht, Universität Freiburg

Vortrag von Prof. Dr. Dr. h.c. mult.Otmar Issing, Präsident des Center for Financial Studies, Goethe-Universität Frankfurt