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852 results, from 741
  • Economic Bulletin 4 / 2002

    A National Stability Pact - How Can it Be Achieved

    2002| Dieter Vesper
  • Weitere externe Aufsätze

    Principles for a Public Debt Strategy in Ukraine

    In: Axel Siedenberg, Lutz Hoffmann (Eds.) , Ukraine at the Crossroads
    Heidelberg [u.a.] : Physica-Verl.
    S. 80-105
    | Ulrich Thießen, Lutz Hoffmann
  • Diskussionspapiere 303 / 2002

    Interpreting Currency Crises: A Review of Theory, Evidence, and Issues

    The main objective of this paper is to understand the causes and symptoms of currency crises by reviewing its seminal literature, establishing its determinants, and outlining some of the relevant issues. The paper highlights the need to comprehend the process, which may lead to the inconsistency of the policies and render the situation favourable for a speculative attack. This involves, broadening ...

    2002| Omar F. Saqib
  • Diskussionspapiere 304 / 2002

    An Investigation into the 1999 Collapse of the Brazilian Real

    This study argues that the political considerations were an important factor behind the crisis of the Brazilian real in January 1999. The divided coalition government and a president facing impending elections eschewed the correction of external misalignments and the fiscal austerity at a time when the markets were already excited by the 1997-98 East Asian and 1998 Russian financial crises. The hypothesis ...

    2002| Omar F. Saqib
  • Diskussionspapiere 348 / 2003

    The Argentinean Currency Crisis: A Markov-Switching Model Estimation

    Despite the fact that Argentina has been suffering from a recession for years, the timing and severity of the recent currency crisis surprised most observers. This paper analyzes the role of fundamentals and self-fulfilling speculation in the Argentinean crisis. Arguing within a theoretical model of a fixed exchange rate system that allows for multiple equilibria, we show that the crisis, while being ...

    2003| Patricia Alvarez-Plata, Mechthild Schrooten
  • Vierteljahrshefte zur Wirtschaftsforschung 3 / 2004

    Germany after Qualification for EMU: A Disaggregated Approach to the Analysis of Structural Public Finance Developments

    In diesem Aufsatz wird die strukturelle Entwicklung der öffentlichen Finanzen in Deutschland nach der Qualifikation zur Währungsunion analysiert. Um die verschiedenen Einflüsse auf die Entwicklung der öffentlichen Finanzen zu unterscheiden und einzuordnen, wird eine erweiterte Version eines disaggregierten Ansatzes zur Konjunkturbereinigung von Haushaltssalden verwandt. Wir untersuchen außerdem die ...

    2004| Jana Kremer, Karsten Wendorff
  • Vierteljahrshefte zur Wirtschaftsforschung 3 / 2004

    Does the EMU Need a Fiscal Transfer Mechanism?

    Die zentrale Frage des Aufsatzes lautet: Ob und wie kann eine zentrale Fiskalbehörde oder ein fiskalischer Transfermechanismus die fiskalpolitische Stabilisierung in der EWU verbessern? Dazu werden theoretische Argumente und empirische Evidenz präsentiert, die die These bestätigen, dass die gegenwärtige EWU nicht in der Lage ist, asymmetrische und symmetrische idiosynkratische Schocks zu verarbeiten.The ...

    2004| Davide Furceri
  • Externe referierte Aufsätze

    What Is behind the Real Appreciation of the Accession Countries' Currencies? An Investigation of the PPI Based Real Exchange Rate

    In the paper, we calculate real equilibrium exchange rates (EER) for EU accession countries and compare these with the actual exchange rate movements since the mid-1990s. The real equilibrium exchange rates are derived from models of macroeconomic balance and tested for econometrically. It is found that productivity increases can be regarded as one source of the observed PPI-based real appreciation ...

    In: Economic Systems 28 (2004), 4, S. 383-403 | Kirsten Lommatzsch, Silke Tober
  • Diskussionspapiere 549 / 2006

    Informed Capital in a Hostile Environment: The Case of Relational Investors in Germany

    Informed capital is a crucial ingredient to a well-functioning market for start-up finance, especially in times of difficult market conditions. For bank-based systems, the question regarding which investors actually supply informed capital has not yet been answered. To fill this gap, we conduct a survey among German suppliers of start-up finance. We find significant differences between the investors ...

    2006| Dorothea Schäfer, Dirk Schilder
  • Diskussionspapiere 626 / 2006

    Political Instability and the August 1998 Ruble Crisis

    The main objective of this study is to highlight the importance of political instability, defined as frequent changes in and of government, in undermining the Russian exchange rate based stabilization program of the 1990s. The empirical evidence supports the significance of political instability along with economic fundamentals in determining Russian real effective exchange rate and exchange market ...

    2006| Tatiana Fic, Omar F. Saqib
852 results, from 741