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Over the next couple of years, the European Union will face a difficult stage, being confronted with the eventual transition to a monetary union. In the beginning of 1997, it is less clear than ever, if and when the European Monetary Union will eventually be realized, which countries will join in this process, and which countries will benefit from monetary union or are likely to loose out. Using econometric methods, the work attempts to assess the real economic effects of the European Monetary Union. In a first step, differences in labor and goods market adjustment processes between the fifteen member states of the European Union, the United States and Canada are studied in order to evaluate the short-term prospects of monetary union. Turning to the long-run effects, within a second step, convergence of living standards is assessed.
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This book analyses the distributional effects of economic growth on different dimensions of poverty in Colombia. It provides a microeconomic perspective on how economic growth affected poverty and inequality at the household level, as well as a macroeconomic perspective on the effects of growth on regional living standards. The study incorporates recent discussions on multidimensional analysis of well-being and goes beyond traditional income based measures, thereby contributing to the ongoing research on how to measure pro-poor growth and on the importance of incorporating different dimensions of well-being in convergence analysis.
Cardozo --- Colombia --- Convergence --- Economic --- Growth --- Growth --- Poverty --- Poverty --- Pro-poor Growth --- Reduction --- Silva --- Social Indicators
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Lattice Boltzmann methods are a promising approach for the numerical solution of fluid-dynamic problems. We consider the one-dimensional Goldstein-Taylor model with the aim to answer some of the questions concerning the numerical analysis of lattice Boltzmann schemes. Discretizations for the solution of the heat equation are presented for a selection of boundary conditions. Stability and convergence of the solutions are proved by employing energy estimates and explicit Fourier representations.
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Is the euro area getting closer with regard to business cycles? The study investigates the linkage between business cycle convergence and financial portfolio choice for a panel of 18 European countries. For this purpose an index is constructed which measures the similarity of investment portfolios. The idea is that financial portfolio choice has an impact on business cycles and contributes to convergence via the consumption-wealth linkage. The background of the analysis is the International Asset Pricing Model (IAPM). The results of fixed effects GMM TSLS estimations confirm the linkage. The effect is higher for country-pairs that are built by one euro area member and one member outside the euro area.
Bias --- Business --- Consumption-Wealth-Linkage --- Convergence --- Cycle --- Declining --- European --- Home --- International Asset Pricing Model --- Investors --- Panel Methods --- Portfolio --- Portfolio Choice --- Private --- Schneider --- Similarity
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