This paper assesses the actual and potential trade arrangements between the European Union and Central and Eastern European countries. European Agreements have facilitated the reorientation of external trade of the Central European countries. This reorientation has already occurred with...

It is argued that the liberalization of financial markets and the increasing mobility of customers have rendered national banking regulation increasingly ineffective and led to a process of deregulation. Capital adequacy rules are the central instrument for a starting process of reregulation and...

International firms have an incentive for risk management due to the enormous volatility of the floating foreign exchange rates. Often firms must cross hedge since in reality, not every currency is traded in a futures market. That is, the exporting firm uses futures whose value is highly...

None

The Bundesbank failed to achieve her monetary targets in numerous years. Against this background the present paper discusses the implications of these deviations for the exchange rate and the price level. The model by DORNBUSCH (1976) is augmented by an equation which captures the correction of...

None

In order to analyze the earnings differential between women and men DlEKMANN and ENGELHARDT (1995) estimate income functions using hours worked as an exogenous explanatory variable. Their model is misspecified because hours of work should in fact be treated as an endogenous variable. In this...

This study analyses first the impact of various income sources on overall income inequality in Switzerland in 1980, on the basis of the Income and Wealth Survey which was conducted during that year. The specific effect of each of these income sources is analyzed separately for male- and...

We develop a macroeconomic model incorporating international trade. The model is an open economy version of the traditional IS-LM model. Using the recently developed structural vectorautoregression estimation methodology we identify a set of structural shocks. The estimated dynamicresponses of...

The present study describes the connection between marital status and spatial mobility. Despite the close relationship between marital status and age, marital status makes only an insignificant contribution to the explanation of mobility, while age is clearly the determining variable. If the age...