Do currency boards increase the credibility of exchange-rate pegs?

After massive attacks against the peso in January 2002 the Argentine government abandoned its currency board arrangement. The collapse of the Argentine exchange-rate system initiated a new discussion about the pros and cons of currency boards. Why did the Argentine currency board fail? What does its collapse reveal about the conditions that have to be fulfilled for a currency board to function smoothly? What consequences can be drawn from the Argentine case with regard to the currency boards of countries in central and eastern Europe?     

预拌自密实混凝土应用性能的控制

自密实混凝土(SVB)特点主要体现在其新拌混凝土的特别的性能。然而自密实混凝土这些特性是通过质量稳定的最优化的原材料以及制造过程达到的。在实际应用时,作为预拌自密实混凝土浇筑时,其必须显示出所需要的新拌混凝土特性。在混合物混合结束与浇筑开始之间的间隔时间总计可能超过90min,在这较长时间间隔情况下,与在预制工厂应用相比,要求考虑时间和温度对自密实混凝土(SVB)的实用特性变化的影响。掌握粉体材料应用、含水量和增塑剂作用原理以及其相互影响方面的足够的知识是必要的。混凝土原材料和混凝土构成对混凝土流变性能、混凝土硬化性能和施工性能的影响由试验室试验确定。在对预拌混凝土相同原材料和相同配合比的监督检查应根据在结合实际情况下进行,混凝土的可否运送由试验室的结果确定。所有被监督检查的混凝土应符合客户订货确定的硬化混凝土性能要求。     

Economic Factors of Victimization: Evidence from Germany

Victimization is a poorly studied topic in economic research. This paper considers economic factors of victimization using individual data. It tests the rational‐choice‐based hypothesis that the more attractive and poorly guarded targets are facing a higher risk of victimization. The used dataset also covers own criminal activities such that individual offending behavior can be studied as endogenous driver of victimization. Econometric results confirm that a criminal background is one of the major reasons of own victimization. In line with rational choice behavior of offenders, victimization is also associated with being a job holder and more schooling. Moreover, large peer groups increase the risk of victimization, whereas married and healthy people have a significantly lower risk of becoming a crime victim.     

Plädoyer zur gesetzlichen Regelung des Streikrechts – eine Replik

In the recent past, Germany has experienced increasing strike activity by small trade unions. This became possible through a change in high-level legislation allowing competition between trade unions at the firm level. The German government has responded by implementing a new law, which restricts this competition, but many observers regard it as inappropriate. In a recent issue of this journal, the Scientific Advisory Board to the Federal Ministry of Transport and Digital Infrastructure proposes specific legal measures to be taken. The present paper comments on these proposals. It supports the claim for legal regulation of strike activities, but it deviates with regard to the scope of application. The point is made that striking is an activity that inherently requires legal regulation, and that legal regulation is only dispensable in sectors governed by strong competition.     

Exclusive dealing and common agency in international markets

This paper investigates the contractual choice between exclusive dealing and common agency in a simple international oligopoly model where products are sold through intermediaries. We find that when trade barriers are high, domestic firms tend to adopt exclusive dealing contracts whereas trade liberalization may lead firms to choose common agency. Social welfare can be raised be prohibiting exclusive dealing (common agency) when trade barriers are high (low) and products are close substitutes.     

Konjunkturschlaglicht: Leicht höhere Steuereinnahmen

HWWA-KONJUNKTURFORUM

Konjunkturschlaglicht: Leicht h?here Steuereinnahmen     

Business regulation,labor force participation and employment in industrial countries

Using data from 19 industrial countries for 5 years in the period 1990–2002, this paper analyzes to what extent anticompetitive business regulations, like price controls and administrative obstacles to start a new business, affect labor force participation and employment rates. According to the regression results, they appear to lower both. Corruption, which is one result of strict business regulation, is also found to lower labor force participation and employment rates. While most effects on the general population seem to be modest, the effects on the low-skilled are likely to be substantial. The results are robust to variations in specification.     

Europe – Quo Vadis? Reflections on the Future Institutional Framework of the European Union

With twelve new members the decision making in the European Union via intergovernmental cooperation will become ineffective. The EU is at the Cross Roads. In order to avoid a Stagno‐Europe the EU has a choice: Either it looks for the very essentials in the common institutional framework and adjusts it accordingly or the member states agree in ceding national sovereignty to the European level. This, however, requires that the democratic deficit at the EU level is reduced. The Treaty of Nice has failed to solve these issues. The paper elaborates in detail the non‐essentials and the essentials of European integration and discusses the basics of an approach to a constitution‐like arrangement for Europe.