Föderalismus und Dezentralisierung sind Themen, die weltweit einen festen Platz auf der politischen Agenda einnehmen. Dezentralisierungsprozesse treten bspw. verstärkt in zahlreichen osteuropäischen Staaten aber auch in Spanien, Belgien und in und vielen Entwicklungsländern auf. Diese...

The majority of theoretical and empirical studies on the relationship between decentralization and corruption argues that the devolution of power might be a feasible instrument to keep corruption at bay. We argue that this result crucially depends on the effectiveness of monitoring bureaucrat's...

This paper studies the optimal design of monetary policy in an optimizing two-country sticky price model. We suppose that the production sequence of final consumption goods stretches across both countries and is associated with vertical trade. Prices of final consumption goods are sticky in the...

Intro -- Contents -- I. INTRODUCTION -- II. THE MODEL -- III. WELFARE, OUTPUT AND CONSUMPTION -- IV. OPTIMAL MONETARY POLICY AND POLICY COORDINATION -- V. SIMPLE RULES AND WELFARE -- VI. CONCLUSIONS -- REFERENCES.

This paper studies the optimal design of monetary policy in an optimizing two-country sticky price model. We suppose that the production sequence of final consumption goods stretches across both countries and is associated with vertical trade. Prices of final consumption goods are sticky in the...