The envisaged EU enlargement will lead to a redirection of Structural and Cohesion Funds expenditures from current to new EUmembers. This redistribution of funds makes the accession countries even more attractive as a location of FDI. Using a logistic regressions approach, this paper shows that...

This paper assesses the relationship between EU manufacturing imports from the southern EU and the CEEC. Final goods imports are strongly complementary and intermediate goods imports are substitutive. An increase in the high-skilled to low-skilled labor ratio in the EU-South or the degree of...

The paper assesses the economic impact of a toll imposed on heavy-goods vehicles proportional to distance driven. The macroeconomic impact of the toll is estimated by using the disaggregated econometric model MULTIMAC of the Austrian economy. The assumption is that all toll revenues will be...

In this paper, we present stylized facts of exchange rate and intervention behavior in the Exchange Rate Mechanism I (ERM I), in particular in light of the recent literature on multilateral target zone models. We estimate bilateral exchange rate distributions of the maximum spot rate deviations...

This paper discusses the link between financial development and macroeconomic volatility by exploring some of the ways through which financial development may affect business cycle fluctuations. To be specific, we examine whether stock market development exerts an unambiguous effect on...

The envisaged EU enlargements will lead to a redirection of Structural and Cohesion Funds expenditures from current to new EU members. This redistribution of funds makes the accession countries even more attractive as a location of FDI. Using a logistic regressions approach, this paper shows...