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Seit langem wächst der Welthandel deutlich stärker als das Weltsozialprodukt. Ein zunehmender Teil dieses Handels besteht dabei aus dem Austausch von Dienstleistungen. Auch die Direktinvestitionen, durch die ausländische Investoren in den jeweiligen Zielländern Unternehmen gründen, erwerben, modernisieren oder erweitern, nehmen seit Mitte der 80er Jahre erheblich rascher zu als die Weltproduktion. Beleg für den hohen Grad und das zügige Fortschreiten der ""Vernetzung"" der Weltwirtschaft ist schließlich die geradezu ungestüme Dynamik, mit der sich in den letzten Jahrzehnten die internationalen
International economic relations. --- Competition, International. --- Industrial policy. --- Commercial policy. --- Foreign trade policy --- International trade --- International trade policy --- Trade policy --- Economic policy --- International economic relations --- Business --- Industries --- Industry and state --- International competition --- World economics --- International relations --- War --- Economic policy, Foreign --- Economic relations, Foreign --- Economics, International --- Foreign economic policy --- Foreign economic relations --- Interdependence of nations --- International economic policy --- International economics --- New international economic order --- Economic sanctions --- Government policy --- Economic aspects
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EMU started with eleven member countries as scheduled on January 1, 1999. The paper shows that the primacy of politics over economics in this decision could have serious consequences concerning the stability of EMU in the transition phase. Speculative attacks against currencies which are in economic distress due to asymmetric shocks can still happen. A speculative attack as such cannot force a country out of EMU. However, the country concerned might voluntarily decide to leave the system as the costs of staying inside EMU, e.g., due to further rising unemployment, become too large to bear.
Labor --- Public Finance --- Wages, Compensation, and Labor Costs: General --- Unemployment: Models, Duration, Incidence, and Job Search --- Fiscal Policy --- Labor Economics Policies --- Employment --- Unemployment --- Wages --- Intergenerational Income Distribution --- Aggregate Human Capital --- Aggregate Labor Productivity --- Comparative or Joint Analysis of Fiscal and Monetary Policy --- Stabilization --- Treasury Policy --- Fiscal Policies and Behavior of Economic Agents: General --- Labour --- income economics --- Macroeconomics --- Real wages --- Fiscal policy --- Labor market reforms --- Manpower policy --- United States --- Income economics
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