Ab 1993 soll der innergemeinschaftliche Verkehr von Waren, Dienstleistungen, Personen und Kapital von allen wesentlichen Schranken frei sein. Damit entstünde der in der Welt größte inländische Absatzmarkt für Güter und Dienstleistungen, der innereuropäische Kapitalmarkt käme an...

The paper investigates a set of possible leading indicators for Euroland's business cycle using aggregated quarterly data. The theoretical plausibility, the behavior at business cycle turning points and the mean leads are analyzed. Furthermore, evidence from cross-correlations and...

Apart from demand and supply conditions, todays EC trade in agricultural products is determined not only by classical trade policy instruments, e.g. customs or quotas, but in addition by numerous internal instruments influencing consumption, production and storage. The protective character...

This paper presents a multivariate analysis of a money demand system in Europe. The system comprises real broad money, real GDP, the inflation rate, a long-term and a short-term interest rate. Two stable cointegration vectors can be identified: a money demand function and a long-run Fisher...

Die erste Ölkrise zu Beginn der siebziger Jahre hat weltweit das Interesse an alternativen Energiequellen stark belebt. Während im Bereich leitungsgebundener Energieerzeugung die Kohle eine Renaissance erlebte und die Kernkraftwerke zügig zunahmen, wurden als leitungsungebundene...

The aim of this paper is to shed light on how real income has developed across the member states and regions of the EC and to consider what demands this will place on regional policy. According to the principle of subsidiarity, a necessary, though not a sufficient, condition for EC intervention...

The paper presents some stylized facts of Euroland's business cycle using aggregated data. The main results are: The determination of turning points in Euroland's business cycle is not very sensitive to the detrending method used, although the level of the recent output gap depends on it....