The work examines how the irrevocably fixed conversion rates for the currencies of countries participating in the EMU can be set. The authors recall the few provisions delineated in the Maastricht Treaty before examining the wide set of options available. If there are currencies in the ECU...

The work examines how the irrevocably fixed conversion rates for the currencies of countries participating in the EMU can be set. The authors recall the few provisions delineated in the Maastricht Treaty before examining the wide set of options available. If there are currencies in the ECU...

We test whether the relationship between the nominal exchange rate and the news in its underlying fundamentals has non-linear features. In order to do so, we develop a Markov switching model and apply it to a sample of low and high inflation countries. The empirical analysis shows that for the...

Multinational corporations are increasingly seen as excessively big and powerful, and as having dramatically increased in size and power. This perception has led to the view that the big corporations are threatening democratic institutions of the nation-states and that they pervert the cultural...