This book explores the new macroeconomics of the European Monetary Union. It carefully discusses the effects of shocks and policy measures on employment, prices, and the current account. Take for instance a shock or a policy measure in a specific union country. Then what will be the results in...

A comprehensive study of the international coordination of economic policy in a monetary union. It carefully discusses the process of policy competition and the structure of policy cooperation. As to policy competition, the focus is on competition between the union central bank, the German...

The focus is on the interaction between demand and supply in a small open economy, featuring the dynamics of money wages, private capital, public debtand foreign assets. A macroeconomic shock induces an extended process of adjustment that is characterized by unemployment. This in turn requires a...

This book studies the causes and cures of inflation in a monetary union. It carefully discusses the effects of money growth and output growth on inflation. The focus is on producer inflation, currency depreciation and consumer inflation. For instance, what determines the rate of consumer...

This book explores the scope and limits of macroeconomic policy in a monetary union. The focus is on pure policies, policy mixes, and policy coordination. The leading protagonists are the union central bank, national governments, and national trade unions. Special emphasis is put on wage shocks...

Kreditfinanzierung versus Steuerfinanzierung der Staatsausgaben - ein langfristiger Vergleich Beim langfristigen Vergleich zwischen Kreditfinanzierung und Steuerfinanzierung der Staatsausgaben werden drei Indikatoren geprüft: 1. Wiegt die Last der Zinssteuer bei Kreditfinanzierung schwerer als...

Makroökonomik der Kapitalmangel-Arbeitslosigkeit Die Analyse findet im Rahmen einer wachsenden Wirtschaft statt. Die Unternehmen setzen Kapital und Arbeit ein, um ein homogenes Gut zu erzeugen. Das Arbeitsangebot wächst mit einer exogenen Rate. Es herrscht zunächst Vollbeschäftigung. Geht...