This paper studies the exchange rate pass-through in the Syrian economy over the period 1990Q1-2009Q4. To this end it constructs a cost of imports indicator which is used in an Autoregressive Distributed Lag (ARDL) approach. The findings point to a high and fast exchange rate pass-through...

This paper analyses monetary policy in a stylized new-Keynesian model. A number of issues are focused upon: (i) optimal monetary policy under commitment or discretion vs. ad-hoc monetary policy based on simple rules, (ii) the effects of fiscal policies and foreign variables on monetary policy,...

This paper analyses monetary policy in the Euro-Area using a stylized new-Keynesian model. A number of issues are focused upon: (i) optimal monetary policy under commitment and discretion, (ii) a comparison of optimal monetary policies and ad-hoc monetary policies, (iii) the effects of fiscal...

This paper uses the Taylor rule to examine the appropriateness of ECB interest rate policy for the initial EMU members and the ten new EMU member states some of whom are expected to join the Eurozone in 2006-7. Specifically it addresses three questions. (1) Are there differences between the...

This paper analyses the accession to the Euro-Area by new members using a stylized new-Keynesian model. We analyze macro-economic adjustment in the pre- and post accession case and calculate welfare in both situations to obtain net benefit/loss from accession. It is shown how the effects of...

Given the importance of a high degree of homogeneity between the members states of the EMU, one of the research questions that this paper aims at answering is in determining the degree of heterogeneity between the UK and the EA. Furthermore, it is analyzed how an hypothetical membership of the...

This study examines the evolution of labour costs and taxes in Belgium and neighbouring countries. We try to clarify the common issues in the current debate concerning labour costs and labour demand in Belgium and neighbouring countries and investigate the influence of labour costs on employment...

Deze paper bespreekt de evolutie van de loonlasten en arbeidsproductiviteit in België en de buurlanden voor de periode 1996-2007 en onderzoekt de invloed die loonkosten hebben op tewerkstelling, aan de hand van macro-economische data afkomstig van de OESO. We concluderen dat de loonwig in...