Two seemingly unconnected empirical results suggest an intriguing mechanism. First, economic integration helps harmonize prices internationally, with trade being the primary channel (Rogoff 1996, Goldberg and Knetter 1997). Second, monetary union may greatly increase the amount of trade among...

This paper uses data on German government bond futures options to examine the behaviour of market expectations around monetary policy actions of the European Central Bank (ECB). In particular, this paper focuses on the asymmetries in bond market expectations, as measured by the skewness of...

This is the National Report on German Law regarding property relations in social unions, like marriage, other legally acknowledged unions, and de-facto unions. It covers heterosexual and same-sex unions. Although the special focus of the report is on international relations (international...

In this paper we propose a relatively simple procedure to predict Euro-zone industrial production using mostly data derived from the business surveys of the three major economies within the European Monetary Union (France, Germany, and Italy). The basic idea is that of estimating business...

Bei qualifikationsspezifischen Arbeitslosenquoten, die mit zunehmendem Ausbildungsstand fallen, investieren Individuen zu wenig in ihre Ausbildung. Sie berücksichtigen ihre Ansprüche auf Lohnersatzleistungen und bewerten daher mögliche Zeiten der Arbeitslosigkeit zu günstig. Dies kann...