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661
Policy Deviations, Uncertainty, and the European Court of Justice
Hefeker, Carsten
;
Neugart, Michael
-
CESifo
-
2013
The implementation of European Union directives into national law is at the discretion of member states. We analyze incentives for member states to deviate from these directives when the European Commission may sue a defecting member state and rulings at the European Court of Justice (ECJ) are...
Persistent link: https://www.econbiz.de/10010627576
Saved in:
662
The optimal choice of central bank independence and conservatism under uncertainty
Hefeker, Carsten
;
Zimmer, Blandine
- In:
Journal of Macroeconomics
33
(
2011
)
4
,
pp. 595-606
This paper examines the optimal monetary delegation arrangement of central bank independence and conservatism in the presence of uncertainty about the central bank’s output objective. We show that full independence is no longer optimal with uncertain central bank preferences, and that optimal...
Persistent link: https://www.econbiz.de/10010577870
Saved in:
663
Book Review
Hefeker, Carsten
- In:
Journal of Institutional and Theoretical Economics (JITE)
157
(
2001
)
4
,
pp. 677-679
Review of: Transition and Economics: Politics, Markets, and Firms. By Gérard Roland. 2000. MIT Press: Cambridge, MA and London
Persistent link: https://www.econbiz.de/10010828373
Saved in:
664
Uncertainty and Fiscal Policy in an Asymmetric Monetary Union
Hefeker, Carsten
;
Zimmer, Blandine
- In:
Open Economies Review
22
(
2011
)
1
,
pp. 163-178
Persistent link: https://www.econbiz.de/10008926087
Saved in:
665
Foreign Direct Investment and Exchange Rate Regimes
Busse, Matthias
;
Hefeker, Carsten
;
Nelgen, Signe
-
Volkswirtschaft Abteilung, Fachbereich …
-
2010
The paper uses a comprehensive data set with bilateral direct investment flows and establishes the influence of the de-facto exchange rate regime for FDI flows. We find a strong and significant effect from fixed rates on bilateral FDI flows in developed economies, but no significant effect for...
Persistent link: https://www.econbiz.de/10008621834
Saved in:
666
Kurz kommentiert
Schröer, Sebastian
;
Dudenhöffer, Ferdinand
;
Groth, Markus
- In:
Wirtschaftsdienst
91
(
2011
)
6
,
pp. 364-366
Persistent link: https://www.econbiz.de/10009149731
Saved in:
667
Achievement or burden? Labour standards in a monetary union
Hefeker, Carsten
- In:
Applied Economics Letters
5
(
1998
)
6
,
pp. 383-386
This paper examines the argument that monetary union requires an equalization of labour standards in member countries. It is shown that labour standards have an influence on national rates of unemployment, but that it is independent from monetary union.
Persistent link: https://www.econbiz.de/10009195754
Saved in:
668
Labor market regulation and the legal system
Hefeker, Carsten
;
Neugart, Michael
- In:
International Review of Law and Economics
30
(
2010
)
3
,
pp. 218-225
When enacting labor market regulation governments face courts that interpret and implement the legal code. We show that the incentives for governments for labor market reform increase with the uncertainty that is involved in the implementation of legal codes through courts. Given that judges...
Persistent link: https://www.econbiz.de/10008870652
Saved in:
669
Optimal Central Bank Conservatism and Monopoly Trade Unions
Berger, Helge
;
Hefeker, Carsten
;
Schöb, Ronnie
- In:
IMF Staff Papers
51
(
2004
)
3
,
pp. 585-605
The "conservative central banker" has come under attack recently. Explicitly modeling the interaction of a trade union with monetary policy, it has been argued that the standard solution to the inflationary bias in monetary policy might actually be welfare-reducing if the trade union has an...
Persistent link: https://www.econbiz.de/10009018611
Saved in:
670
Central Bank Independence and Conservatism under Uncertainty: Substitutes or Complements?
Hefeker, Carsten
;
Zimmer, Blandine
-
CESifo
-
2011
The paper examines the optimal combination of central bank independence and conservatism in the presence of uncertain central bank preferences. We develop a model of endogenous monetary policy delegation in which government chooses the central bank's degree of inde-pendence and conservatism so...
Persistent link: https://www.econbiz.de/10008833933
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