Abstract not available

This paper will present a multi-region-multi-country model in which inter-regional knowledgespillovers determine the growth of regions. Key parameters in the model are the learningcapability of a region, and the exogenous rate of knowledge generation (R&D). The intensityof spillovers depends on...

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Abstract not available

We show that, with benevolent policymakers and fiscal leadership, monetary unification reduces inflation, taxes and public spending. These disciplining effects of a monetary union, which rise with the number of fiscal players in the union, are likely to raise welfare. Joining an optimally...

In this paper, the experience of OECD countries with public management reform, as has been attempted since the nineteen seventies until now, is discussed. In particular we focus on the lessons which can be drawn from public management reform attempts in English speaking countries on the one hand...

This paper explores under what conditions a European Monetary Union (EMU) is an optimum currency area. The scope for an EMU increases with convergence of structural and fiscal policies, small money holdings, a conservative European Central Bank, and dependent national central banks. How national...

The Maastricht Treaty (1992) has meant an important step forwards in the process of European integration. Not only goods and financial markets, but als labour markets are freed from national barriers. Will this lead to significant increases in migration flows? The differences in wage and...

In this paper, we estimate fundamental bilateral real exchange rates for a group of eight accession countries using a panel-cointegration approach for the period 1993-2003. We document a significant positive link between productivity levels and the corresponding real exchange rate levels. Future...

Emotions are largely absent in economic models. However, many theories still cease to explain the actual situations. We combine regular microeconomic theory with emotions. We will focus on an FDI decision of a firm, including both business-economics and emotional variables in the firms...