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Germany. This would then also have immediate implications for the other countries of the EMS. If, for example, the D-Mark is a substitute for other currencies, German monetary policy would sooner or later have [...] in stage 2 of EMU (on this see also e.g. Cassard et al., 1994, 1997). On the other hand, it would be less of a problem if other countries in the EMS, and not Germany, were affected by CS effects. As long [...] Comments
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1.1 Its structure and decision-making process
1.2 Its main task and position
1.3 Other tasks
1.4 Summary
Quiz
Bibliography
2 Monetary policy strategies and European monetary
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cost variable differ from each other.
2 ß Verein fuÈr Socialpolitik and Blackwell Publishers Ltd 2001
F. Seitz and K.-H. ToÈdter
central bank the argument of
strength, you do need to have the strength of the argument. In other words, other factors than the
relative size of the economics and research departments determine the quality [...] nal structures that include 'doing research' usually cover other activities. For
example, statistics, communication with the ECB or other international institutions,
publications and language services [...] on the one side and the ECB on the other has
certainly increased since 1999. And one part of this competition is necessarily on the field of
research. In other words, it may very well be that the
migrated to other euro-
area countries (NDA(t)):
NDðtÞ ¼ NDDðtÞ þNDAðtÞ: ð1Þ
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voluntary reporting. Examples of the latter are the „Euromobil‘‘ and „Eurodiff‘‘
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Character [...] related to the fact that DM banknotes are circulating to a higher percentage abroad, compared to other euro area currencies, and were hence potentially over-proportionally affected by the anticipations [...] standard
standard Banknotes in circulation 350
standard Other autonomous factors 340
standard Liabilities to general government 50
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producer [...] theoretically unclear. In the end, this is an empirical question.
Similar reasoning applies for other labour market institutions. Institutions may affect factor prices,
elasticities of labour demand [...] growth rates for 1991, we include a dummy variable, which takes the value one in 1991 and
zero in all other years.
In table 1, we present the average values of the estimated employment thresholds for both
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Author Gebhard.Flaig [...] theoretically unclear. In the end, this is an empirical question.
Similar reasoning applies for other labour market institutions. Institutions may affect factor prices,
elasticities of labour demand [...] growth rates for 1991, we include a dummy variable, which takes the value one in 1991 and
zero in all other years.
In table 1, we present the average values of the estimated employment thresholds for both