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I. Realwirtschaftliche und monetäre Integration 3 II. Geldüberhang und die Frage nach einer Währungsreform 4 III. Eine Übergangsstrategie für die DDR 8 1. Maßnahme zum Abbau des Geldüberhangs 8 2. Institutionelle Regelungen des Geldwesens 10 3. Konvertibilität der Mark 12 4....
Persistent link: https://www.econbiz.de/10010295137
, ist die Tatsache, wie die international orientierten Anleger die Geldpolitik eines Landes einschätzen und vor allem welche … Inflationserwartungen sie daraus ableiten. Vieles spricht dafür, daß die seit Beginn des Jahres 1985 sehr expansive Geldpolitik in den USA … expansive Geldpolitik betrieben; in beiden Phasen wertete sich der Dollar ab, die Inflation beschleunigte sich deutlich …
Persistent link: https://www.econbiz.de/10010295181
Strengthening potential output is high on the agenda for economic policy in the European Union. While there is widespread agreement that structural policies have a positive impact on long-term growth, there is a controversial discussion whether coordination of macroeconomic policies can...
Persistent link: https://www.econbiz.de/10010295183
The Euroland economy is in a strong upswing. Last year, real GDP increased at a rate roughly equal to that of potential output in spite of the export losses in the wake of the crises in various countries of the world. There have been considerable impulses from monetary policy. Because of the...
Persistent link: https://www.econbiz.de/10010295192
A widely spread belief among economists is that monetary policy has relatively short-lived effects on real variables such as unemployment. Previous studies indicate that monetary policy affects the output gap only at business cycle frequencies, but the effects on unemployment may well be more...
Persistent link: https://www.econbiz.de/10010295242
Models in which firms use a rule of thumb or partial indexing in price setting are prominent in the recent monetary policy literature. The extent to which these firms adjust their prices to lagged inflation has been taken as fixed. We consider the implications of firms choosing the optimal...
Persistent link: https://www.econbiz.de/10010295244
A widely spread belief among economists is that monetary policy has relatively short-lived effects on real variables such as unemployment. Previous studies indicate that monetary policy affects the output gap only at business cycle frequencies, but the effects on unemployment may well be more...
Persistent link: https://www.econbiz.de/10010295302
The paper explores the interaction between the proposed monetary union for ECOWAS and structural reforms of fiscal policy. The effects depend to a large extent on the degree of similarity of member countries. In a monetary union of similar countries, member states run a more distortive fiscal...
Persistent link: https://www.econbiz.de/10010295326
In Kohler (2002) we analyse coalition formation in monetary policy coordination games between n countries. We find that positive spillovers of the coalition formation process and the resulting free-rider problem limit the stable coalition size: since the coalition members are bound by the...
Persistent link: https://www.econbiz.de/10010295391
The enlargement of the European Monetary Union is likely to lead to an increase of uncertainty about the transmission of monetary policy for the larger union. Adding new members to the central bank council will in addition imply that the preferences of the enlarged council will be uncertain in...
Persistent link: https://www.econbiz.de/10010295405