Why do large European banks lobby for monetary union? We show in a game-theoretic model that montary union can trigger a change in the structure of the market for international banking transactions with asymmetric effects on profits: large banks are induced to cooperate internationally and gain...

The paper addresses the question what effects the enlargement of a monetary union will have on necessary structural reforms in the (low distortion) member countries and the (high distortion) candidate countries. While monetary union lowers reforms in the candidate countries, members of the...

The enlargement of the European Monetary Union is likely to lead to an increase in uncertainty regarding the transmission of monetary policy for the larger union. Adding new members to the central bank council will in addition imply that the policy reaction of the enlarged council will be...

This is a model of a contest where, in order to win, each opponent can use two instruments. The probabilities of winning are explored, as well as the expenditures of the interest groups, and the relative rent-dissipation in both cases where the players have the option to use only one instrument...

Delegation of wage determination is modelled as the transferral of decision‐making rights to better‐informed agents. The rank and file of trade unions has less information and can, therefore, benefit from delegation. However, delegation might be disadvantageous for union members, since delegates...

Welche Effekte wird die Währungsunion auf die nationalen Arbeitsmärkte haben? Der Aufsatz dokumentiert das Ausmaß der Konvergenz auf den europäischen Arbeitsmärkten und diskutiert die zu erwartenden Effekte der EWU auf das Lohnsetzungsverhalten der Gewerkscahften sowie die Anreize für die...