The real economic effects of the considerably high appreciation in Central European Economies (CEE) are controversially disputed in the eve of the European Monetary Union (EMU) entry of several CEE economies. The Balassa-Samuelson-effect was made responsible for the expectation of higher...

To create healthy and efficient market economy, a viable legal framework which protects the ownership of individuals is a requirement. A part of this legal framework is formed by a secured transactions law which in the United States represent one of the most important branches of laws which...