The European Central Bank will soon have to decide on her monetary strategy. This paper discusses properties of money demand functions and implications for monetary policy in a monetary targeting regime. Special attention is paid to different concepts of stability of money demand, to the length...

The authors analyze economic convergence and its relation to European real interest rate differentials using a clustering method on seven macroeconomic key variables for 1979-1995. The results indicate that monetary convergence has progressed considerably but that there is hardly any real...

This paper examines the effects of the European Commission's Manifest Crisis Policy of production quotas on the growth of European minimills during the 1980s. In particular, the study seeks to determine whether the Commission-approved secondary market for the quota rights created sufficient...

This paper examines the growth process of 109 European regions using a new data base. Applying various statistical tools, it concentrates on per capita income and labor productivity. The main results are the following: There has been a clear process of aggregate productivity convergence across...

The paper explores the inter-relationship between payment system arrangements and the conduct of the single monetary policy in Stage Three of EMU against the background of TARGET--the project drafted by the European Monetary Institute with the aim of creating an EU-wide payment system through...

Die potentiellen Handelswirkungen einer Freihandelszone zwischen der EU und Rußland. - Die Verfasser untersuchen einige der potentiellen wirtschaftlichen Auswirkungen von Freihandelsabkommen zwischen der EU und Rußland und anderen europäischen Ländern der Gemeinschaft Unabhängiger Staaten...