Driven by waves of foreign capital inflows and outflows, Indonesia, the Republic of Korea, and Thailand - among several other emerging markets - have resorted to capital control policy since 2006. Are capital controls effective? Controls on capital inflows have been experiencing a renaissance...

The purpose of this paper is to emphasize the importance of Europe's structural problems and governance as the cause of the current euro area crisis. The euro may have led to bubbles, but member economies were not free of trouble before the euro. Many members were losing competitiveness and in...

The debt crisis in several member states of the euro area has raised doubts on the viability of European Economic and Monetary Union (EMU) and the future of the euro. While the launch of the euro in 1999 stirred a lot of interest in regional monetary integration and even monetary unification in...

This paper discusses what is longevity risk, why it is important, approaches used by the West to manage longevity risk and what lessons can be learnt by Asian countries from the experiences of the West. Increasing and uncertain longevity has emerged as a key risk affecting individuals, pension...

Typisch städtische Arbeitsmärkte unterscheiden sich deutlich von nicht-städtischen. Die Besonderheit städtischer Arbeitsmärkte ist auf ökonomische, soziale und strukturelle Rahmenbedingungen zurückzuführen. Die vorliegende Studie, die im Auftrag des AMS Österreich, Abt....

We study the apparent disconnect between what countries announce to be their exchange rate regime and what they de facto implement. Even though discrepancies between announcements and de facto polices are frequent, there is a lack of understanding of actual patterns and underlying reasons. We...

This paper studies the relationship between export activities and firm-level productivity. Unique matching of German and Austrian micro data from 1994 to 2003 suggests that exporters are more productive by around 40 percent compared with non-exporters. Moreover, beside other analysis techniques,...