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  • Weitere externe Aufsätze

    An Investigation into the 1999 Collapse of the Brazilian Real

    In: Economia internazionale 56 (2003), 2, S. 193-206 | Omar F. Saqib
  • Weitere externe Aufsätze

    Equilibrium Real Exchange Rates in Acceding Countries: How Large Is Our Confidence (Interval)?

    In: Focus on Transition (2003), 2, S. 107-137 | Bálazs Égert, Kirsten Lommatzsch
  • Externe referierte Aufsätze

    Stability Criteria and Convergence: The Role of the System of National Accounts for Fiscal Policy in Europe

    In: Allgemeines Statistisches Archiv 87 (2003), 2, S. 113-131 | Tilman Brück, Andreas Cors, Klaus F. Zimmermann, Rudolf Zwiener
  • Diskussionspapiere 348 / 2003

    The Argentinean Currency Crisis: A Markov-Switching Model Estimation

    Despite the fact that Argentina has been suffering from a recession for years, the timing and severity of the recent currency crisis surprised most observers. This paper analyzes the role of fundamentals and self-fulfilling speculation in the Argentinean crisis. Arguing within a theoretical model of a fixed exchange rate system that allows for multiple equilibria, we show that the crisis, while being ...

    2003| Patricia Alvarez-Plata, Mechthild Schrooten
  • Externe referierte Aufsätze

    The Political Economy of Intergovernmental Grants

    We study the effect of politics on the distribution of intergovernmental grants. We consider a model where local government officials lobby the central government who in turn distributes grants based on the local governments' lobbying efforts. We argue that the marginal costs of lobbying increase with the geographical and "political" distance from the central government capital. Hence, in equilibrium, ...

    In: Regional Science & Urban Economics 33 (2003), 2, S. 139-156 | Rainald Borck, Stephanie Owings
  • Externe referierte Aufsätze

    The Balassa-Samuelson Effect in Central and Eastern Europe: Myth or Reality?

    This paper studies the Balassa-Samuelson effect in nine Central and East European countries. Using panel cointegration techniques, we find that the productivity growth differential in the open sector leads to inflation in non-tradable goods. Because of the low share of non-tradables and the high share of food items in addition to regulated prices, the consumer price index is misleading when analyzing ...

    In: Journal of Comparative Economics 31 (2003), S. 552-572 | Balázs Égert, Imed Drine, Kirsten Lommatzsch, Christophe Rault
  • Diskussionspapiere 308 / 2002

    Optimal Fiscal Policy in an Economy Facing Socio-Political Instability

    We present a model of optimal government policy when policy choices may exacerbate socio-political instability (SPI). We show that optimal policy that takes into account SPI transforms a standard concave growth model into a model with both a poverty trap and endogenous growth. The resulting equilibrium dynamics inherit the properties of government policies and need not be monotone. Indeed, for a broad ...

    2002| Chetan Ghate, Quan Vu Le, Paul J. Zak
  • Economic Bulletin 4 / 2002

    A National Stability Pact - How Can it Be Achieved

    2002| Dieter Vesper
  • Diskussionspapiere 279 / 2002

    The Polish Zloty and Currency Speculation

    This paper uses Markov switching models to study short-run movements of the Polish zloty and speculative phenomena in Poland, that is, to investigate whether the exchange rate is "contaminated" by a speculative bubble. The zloty movements are examined in terms of so-called long swings - periods of prevailing appreciation and depreciation of the exchange rate. Speculative fluctuations of the zloty are ...

    2002| Tatiana Fic
  • Materialien 16 / 2002

    Fiscal Federalism in Transition: A Suggested Framework of Analysis and Empirical Evidence ; The Case of Ukraine

    2002| Ulrich Thießen
866 results, from 811