The relationship between CMEA and EC

In early 1970 responsibility for the conclusion of trade agreements was transferred from the individual member states to the EC. Since then the EC has been recognized throughout the world as a contractual partner in its own right within this area. Only the Soviet Union and the CMEA are being difficult accepting these changes in responsibility since 1970. This means that in trade between the EC countries and the state trade countries there exists at present a situation without treaties. Where do the problems lie? What models offer themselves for overcoming this situation?     

Global Implications of Monetary and Fiscal Policy Rules in the EMU

In order to analyze successful strategies for economic policy in a global environment both international interdependencies and the strategic behavior of global players must be considered. We use a global model of the world economy (the MSG2 Model) to show the effects of dynamic policy optimization in the presence of various supply and demand shocks to different world regions. We show that fixed rules are generally superior for supply shocks, while demand shocks call for more active or discretionary policies.     

Versicherungsinformatik — eine versicherungswissenschaftliche Fachdisziplin

What is insurance information technology?Insurance information technology describes all processes involved in the development, supply and processing of IT services for the insurance industry.Is there a need for a theoretical insurance information technology?A knowledge of information technology and specialist knowledge relating to insurance must be — or must become — an integral component of information technology for the insurance industry. To reach this objective not only in practice but also in theory, for the conception of multidisciplinary and cross-company models and theories, a theoretical, academic approach to insurance information technology is required.Is insurance information technology a part of insurance theory?Insurance information technology deals with the real phenomenon of ?insurance“ and aims to complete the extensive development of the theory. An ?insurance theory“ would be incomplete without the theoretical contributions of insurance information technology.     

Basel-II: International Competition Issues

Basel-II has been thoroughly discussed, both in Europe and in the US. While the discussion several years ago focused mainly on the expected cost due to the implementation of Basel-II on the individual bank level, the recent discussion pays increasing attention to international competition issues, as Europe is implementing the new capital accord rather quickly, while in the US there is significant doubt, whether Basel-II might cause severe disadvantages. This article highlights some topics, which may be important to assess the overall competition effects of Basel-II. Surprisingly, there are relatively few features of Basel-II that might lead to major disturbances in international competition, even if Basel-II will be implemented by some countries, while others choose not to do so.