Working Papers

From Oesterreichische Nationalbank (Austrian Central Bank)
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64: The Federal Design of a Central Bank in Monetary Union: The Case of the European System of Central Banks

Sylvester Eijffinger

63: Wage Formation in Open Economies and the Role of Monetary and Wage-Setting Institutions

Markus Knell

62: Growth, Convergence and EU Membership

Jesus Crespo Cuaresma, Maria Antoinette Dimitz and Doris Ritzberger-Grünwald

61: Price Dynamics in Central and Eastern European EU Accession

Peter Backé, Jarko Fidrmuc, Thomas Reininger and Franz Schardax

60: The Empirical Performance of Option Based Densities of Foreign Exchange

Ben R. Craig and Joachim G. Keller

59: Evaluating Density Forecasts with an Application to Stock Market Returns

Gabriela de Raaij and Burkhard Raunig

58: Credit Channel and Investment Behavior in Austria: A Micro-Econometric Approach

Maria Valderrama

57: Banking Regulation and Systemic Risk

Martin Summer

56: Asymmetries in Bank Lending Behaviour. - Austria During the 1990s

Sylvia Kaufmann

55: The Effectiveness of Central Bank Intervention in the EMS: The Post 1993 Experience

Peter Brandner, Harald Grech and Helmut Stix

54: New International Monetary Arrangements and the Exchange Rate

Tommaso Monacelli

53: Why Is the Business-Cycle Behavior of Fundamentals Alike Across Exchange-Rate Regimes?

Luca Dedola and Sylvain Leduc

52: Beyond Bipolar: A Three-Dimensional Assessment of Monetary Frameworks

Kenneth Kuttner

51: Assessing Inflation Targeting after a Decade of World Experience

Vittorio Corbo, Oscar Landerretche and Klaus Schmidt-Hebbel

50: Macroeconomic Fundamentals and the DM/$ Exchange Rate: Temporal Instability and the Monetary Model

Roman Frydman and Michael D. Goldberg

49: Arbitrage and Optimal Portfolio Choice with Financial Constraints

Helmut Elsinger and Martin Summer

48: A regulatory regime for financial stability

David T. Llewellyn

47: The ECB monetary policy strategy and the money market

Vítor Gaspar, Gabriel Perez-Quiros and Jorge Sicilia

46: Exchange Rates, Prices and Money. A Long Run Perspective

Paul De Grauwe and Marianna Grimaldi

45: Is there an asymmetric effect on monetary policy over time? A bayesian analysis using Austrian data

Sylvia Kaufmann

44: The EURO Area and the single monetary policy

Otmar Issing

43: The Bank, the States, and the Market: An Austro-Hungarian Tale for Euroland, 1867-1914

Marc Flandreau

42: Integration, Disintegration and Trade in Europe: Evolution of Trade Relations During the 1990s

Jarko Fidrmuc and Jan Fidrmuc

41: Is there a Credit Channel in Austria? The Impact of Monetary Policy on Firms' Investment Decisions

Katrin Wesche

40: Central Banks in European Emerging Market Economies in the 1990s

Eduard Hochreiter and Tadeusz Kowalski

39: Democracy and Markets: The Case of Exchange Rates

John R. Freeman, Jude C. Hays and Helmut Stix

38: On the real effects of the monetary policy: A central banker's view

Javier Valles and Jose Vinals

37: Estimation of the term structure of interest rates - A parametric approach

Alois Geyer and Richard Mader

36: Heterogeneities within industries and structure-performance models

Dennis Mueller and Burkhard Raunig

35: Room for manoeuvre of economic policy in EU countries are there costs of joining EMU?

Helene Schuberth

34: The impact of EMU on European unemployment

Juan F Jimeno and Jose Vinals

33: Core Inflation in Selected European Union Countries

Christine Gartner and Gert Wehinger

32: Price Level Convergence Among United States Cities: Lessons for the European Central Bank

Stephen Cecchetti, Nelson Mark and Robert Sonora

31: The Usual Suspects? Productivity and Demand Shocks and Asia-Pacific Real Exchange Rates

Menzie Chinn

30: The Great Appreciation, the Great Depreciation, and the Purchasing Power Parity Hypothesis

David Papell

29: Goods Arbitrage and Real Exchange Rate Stationarity

Jose Campa and Holger Wolf

28: What Do We Really Know About Real Exchange Rates?

Ronald Mac Donald

27: Trends in European Productivity: Implications for Real Exchange Rates, Real Interest Rates and Inflation Differentials

Matthew Canzoneri, Robert Cumby, Behzad Diba and Gwen Eudey

26: Structural Budget Deficits and Sustainability of Fiscal Positions in the European Union

Peter Brandner, Leopold Diebalek and Helene Schuberth

25: Sources of Currency Crises: An Empirical Analysis

Axel A. Weber

24: Exchange Rates and Monetary Policy in Central Europe - a Survey of Some Issues

Elmar B. Koch

23: Will Asymmetric Shocks Pose a Serious Problem in EMU?

Franz Pauer

22: Recovery in Eastern Europe: Pessimism Confounded?

Rutger Wissels

20: Monetary Spill-over Effects in the ERM: The Case of Austria, a Former Shadow Member

Hans Groeneveld

19: Austrian Exchange Rate Policy and European Monetary Integration - Selected Issues

Eduard Hochreiter