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• Adósságválság és gazdasági kormányzás – utak és lehetőségek: Beszámoló az V. Gazdaságpolitikai Kerekasztal – Földobott kő? Tények és tendenciák a 21. században c. konferenciáról, Debrecen, 2011. április 15.

  164-172

  Agnes Orosz

  Views:

  123

• A svájci alkotmány sajátosságai: Walter Haller: The Swiss Constitution in a Comparative Context (DIKE Kiadó, Zürich, 2009, 263 oldal, ár nélkül)

  Agnes Orosz

  Views:

  333

• A német transzferrendszer mint a gazdasági visszaesés okozója

  Agnes Orosz

  Views:

  184

  According to the theory of optimal currency areas the most important advantage of monetary integration is its positive effect on economic growth. However, examining Germany we can notice that since German reunification economic growth and the convergence between East and West Germany has slowed down. These facts show that the operation of the German currency union is not optimal and its performance has not improved over the last twenty years. The criteria of the optimal currency area theory is endogenous due to the recent development of the theory. This means that a country is more likely to satisfy the criteria for entry into a curreny union ex post than ex ante. In the case of Germany, examining the trends of economic growth we can conclude the the German currency union has not become optimal in the last two decades. These facts raise the puzzling question of what are the specific circumstances hindering the improvement if Germany's monetary union despite the endogeneity of the optimal currency area criteria. To answer this question the study examines the interactions between monetary and political integration with special attention to the issues of fiscal policy. According to the study the German transfer system and the dependency on transfers explain the discrepancy between theory and empirics.

  Journal of Economic Literature (JEL) classification: E42, E62, E63, F01, F31, F36