Weshalb der Euro der Preis für die Wiedervereinigung war -- Die EZB macht sich zum Kumpanen der Politiker -- Neues aus der Haftungsunion -- Das Recht ist unter die Räder gekommen.- Lasset die Fremdlinge zu uns kommen? -- Das Eigeninteresse der Eurokratie -- Neustart jetzt -- Quellen und...

This paper reviews the analytics of the effects of globalization on the Phillips curve and the utility-based objective function of the central bank. It demonstrates that in an endogenous-policy set up, when trade in goods is liberalized, financial openness increases, and in- and out-labor...

This paper shows the inappropriatedness of approximation procedures for welfare rankings across suboptimal policy strategies. On the grounds of a simple general equilibrium model, we find that even commonly accepted techniques are not suitable to achieve accurate welfare orderings. This result...