The transmission of monetary and fiscal policies in an international context is one of the most prominent topics in the realm of international finance. In particular, researchers are interested in the effects of the respective policy on exchange rate movements, international price level...

Veränderungen der Rahmenbedingungen auf Finanzmärkten müssen von ökonomischen und ökonometrischen Modellen sinnvoll erfasst werden. Diese Dissertation beschäftigt sich mit der Zinsdynamik im Vorfeld einer Währungsunion. Auf diese Dynamik aufbauend werden Optionen auf Nullkuponanleihen...

Die vorliegende Dissertation zu makroökonomischen Themen beinhaltet einen einleitenden Literaturüberblick, drei eigenständige und voneinander unabhängige Kapitel sowie einen technischen Anhang. In Kapitel zwei wird ein Zwei-Länder Modell einer Währungsunion betrachtet, in dem die...

The trade-off between price stability and output stabilization is in the centre of monetary policy-making. This trade-off enters many macroeconomic models as the central bank is assumed to minimize some loss function consisting of inflation deviations and output deviations from some specific...

In the first chapter, I examine an incomplete markets economy in a politico-economic general equilibrium setting in which the median voter chooses the inflation rate. I use an environment where individuals face an uninsurable idiosyncratic labor productivity shock, and money is the only asset....

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Motivation of virtually all regional economic integration (REI) initiatives has been prospect of enhanced economic growth. Although REI's role in contributing to growth and development was recognised and acknowledged, its importance in Africa has never been properly outlined. Theoretical...

This dissertation studies the Economic and Monetary Union (EMU) and itseffects on foreign exchange markets and corporate cash holdings. These two potentialeffects are examined in the dissertation in two separate essays.The first essay examines the validity of the purchasing power parity...