Diese Aufgabensammlung dient der zielgerichteten Vorbereitung auf die Abschlussprüfung im Fach Wirtschafts- und Sozialkunde. Teil 1 enthält über 400 programmierte Aufgaben zur Wirtschafts- und Sozialkunde mit Übersichten und ausführlichen Lösungshinweisen. Die Themen der Aufgabenstellungen...

This paper argues that labor markets across Europe vary dramatically in their fundamental features and rigidities across Europe. Thus, any discussion of an optimum currency area should focus on the differences and the idiosyncratic changes in the labor markets. After demonstrating the vast...

Diese Aufgabensammlung dient der zielgerichteten Vorbereitung auf die Abschlussprüfung im Fach Wirtschafts- und Sozialkunde. Teil 1 enthält über 400 programmierte Aufgaben zur Wirtschafts- und Sozialkunde mit Übersichten und ausführlichen Lösungshinweisen. Die Themen der Aufgabenstellungen...

This paper analyzes the factors underlying the weakness of the euro. For this purpose, the framework advocated by Clarida and Gali (1994) is used. Within this model, three structural shocks drive the dynamics of the endogenous variables: aggregate supply shocks, aggregate spending shocks, and...

There is no consensus about the causes of the reduction in business cycle volatility seen in many major economies over the last decade. Using stylised models of the economies of the US, Euro area, UK and Japan, we argue that economic stability has been fostered by improved monetary policy and by...

This paper characterises rules-based fiscal policy setting. Basically, we translate a standard monetary policy rule into a simple fiscal policy rule. We then infer on fiscal policymakers' reaction coefficients by testing the rule with GMM. Interaction is also tested directly by the inclusion of...

The belief that the ECB follows the US Federal Reserve in setting its policy is so entrenched with market participants and commentators that the search for empirical support would seem to be a trivial task. However, this is not the case. We find that the ECB is indeed often influenced by the...

We estimate monetary policy reaction functions for France, Germany, Italy, the United Kingdom, and the United States using a Markov-switching model that incorporates switching in the monetary policy regime as well as an independent switching process for shifts in the state of the economy....