We estimate a three-region (DE-REA-RoW) structural macroeconomic model, and we provide a counterfactual on how nominal exchange rate flexibility would have affected the German trade balance (TB) by simulating the shocks of the estimated model under a counterfactual flexible exchange rate regime....

Die Kostenstrukturänderungen von Unternehmen erfordern die Neuentwicklung von Controllinginstrumenten. Besondere Bedeutung kommt dabei der verursachungsgerechten Verrechnung von Gemeinkosten zu. Auf der Basis der Transaktionskostentheorie erarbeitet Stefan Hohberger ein System, mit dem sich...

The serious current account imbalances which have developed within the euro area over the last decade are at the core of the current financial crisis. For the members of the currency union fiscal policy has gained in importance due to the loss of monetary policy as an autonomous policy...