III. Weltwirtschaft und wirtschaft einzlner länderund und gebiete

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II. Allgemeine und angewandte statistik

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Common European monetary policy with different financial structures

If Economic and Monetary Union comes about, it will comprise countries with different financial systems and financing practices. This implies differences as regards the transmission of impulses both within the financial sector and from the monetary sphere to the real economy. Professor Renate Ohr and Torsten Gruber take the example of the United Kingdom to illustrate the significance these differences could have for the monetary policy of the European Central Bank.     

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Optimal subsidies to declining industries: Efficiency and equity considerations

This paper considers equity versus efficiency in a small economy that subsidizes an industry facing falling world market prices. Subsidies keep up output in the short run when wages and factors are rigid. But once introduced, subsidies become permanent, because of pressures from vested interests. This creates missalocation of resources in the long run. An optimal efficiency subsidy balances the short-run gains and long-run losses. It should be raised when prices fall if there is full employment initially and lowered if there is unemployment. An optimal distribution subsidy, which aims at maintaining the existing income distribution, should always be raised.     

III. Weltwirtschaft und Wirtschaft einzlner Länderund und Gebiete

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Rezensionen

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I. Allgemeine wirstchaftslehre

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I. Allgemeine Wirstchaftslehre

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I. Allgemeine wirstchaftslehre

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