A considerable degree of business cycle synchronization is key to a successful operating currency union. The European Monetary Union as well as many other countries strives to attract foreign direct investment (FDI) because of its reputation as being highly beneficial for the host economy. But...

This study readdresses the determinants of business cycle synchronisation. We test, on the one hand, whether FDI promoting policies may have consequences for the business cycle comovement between countries, and on the other hand, whether more plausible identification strategies change previous...

Die deutschen Leistungsbilanzüberschüsse stehen international in der Kritik. Welche Entwicklungen liegen diesen Überschüssen im Einzelnen zugrunde? Die Autoren untersuchen vor allem vier Fragen: Ist die deutsche Wettbewerbsfähigkeit durch den Euro gestiegen? Sind die Lohnstückkosten...

This study readdresses the determinants of business cycle synchronisation. We test, on the one hand, whether FDI promoting policies may have consequences for the business cycle comovement between countries, and on the other hand, whether more plausible identification strategies change previous...

Die deutschen Leistungsbilanzüberschüsse stehen international in der Kritik. Welche Entwicklungen liegen diesen Überschüssen im Einzelnen zugrunde? Die Autoren untersuchen vor allem vier Fragen: Ist die deutsche Wettbewerbsfähigkeit durch den Euro gestiegen? Sind die Lohnstückkosten...

A considerable degree of business cycle synchronization is key to a successful operating currency union. The European Monetary Union as well as many other countries strives to attract foreign direct investment (FDI) because of its reputation as being highly beneficial for the host economy. But...

This paper examines the impact of increased productivity on prices, output, real wage rate and balance of payments. Two alternative forms of productivity are considered: (1) cost saving for a given output level and (2) production increase without a direct decrease in employment. By making use of...

The present study sheds light on important aspects of monetary integration in the European Union involving the newest member states. It assesses the degree to which they satisfy the business cycle correlation criteria.Our results demonstrate that there is a common business cycle in the Euro area...

This study readdresses the determinants of business cycle synchronisation. We test, on the one hand, whether FDI promoting policies may have consequences for the business cycle comovement between countries, and on the other hand, whether more plausible identification strategies change previous...

This study analyzes the relationships between domestic and foreign output gaps, current-account imbalances, and real effective exchange-rate (REER) misalignments. We first set up a theoretical framework based on the elasticities and absorption approaches of the balance of payments to derive and...