This paper quantifies the economic influence that shocks to EMU cohesion, which in turn reflect the incomplete nature of the monetary union, have on the rest of the world, by disentangling euro area stress shocks and global risk aversion shocks on the basis of a combination of sign, magnitude...

Nominale Anker im nationalen Kontext -Nominale Anker als internationale geldpolitische Koordinationsziele -Wahl eines nominalen Ankers bei einer Europäischen Währungsunion -Wirtschaftspolitische Implikationen

Monetary Issues: Monetary Unions: Between International Trade and National Sovereignty -- Why a Monetary Union?- Monetary Policy in a Monetary Union: Lessons from Simple Models -- Institutions and Monetary Policy -- Fiscal Issues: Government Deficits, Transfers and Debt -- Fiscal Policies in a...