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Copyright of Schmollers Jahrbuch is the property of Duncker & Humblot GmbH and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Fifty years after the Rome Treaties, is there empirical evidence for arguing that the EU today is a fully integrated goods and services market in which the "law of one price" prevails at large? Based on a number of consumer price surveys for goods and services in major cities all over the world since the seventies and, comparing the EU to a benchmark, the US market, the paper is affirmative. Price dispersion between EU cities has declined with the Eurozone as the core EU region in the lead surrounded by two concentric circles. EU goods price dispersion has generally approximated the level in the US market. Yet, price dispersion has declined throughout the world underlining the relevance of global integration rather than only regional integration. Furthermore, there is ample evidence that gravity factors against the "law of one price", such as distance costs and borders, are still effective. INSET: E. [ABSTRACT FROM AUTHOR]

In this paper we analyze the opening hours of 50 randomly selected university libraries (UL) in Austria, Germany, Canada and the USA. The aim of this analysis is to identify possible influences on the extent of the opening hours. Potential influencing factors that we consider are library size and country (state) or linguistic area in which a library is located. The results of the analysis show that larger UL and UL that are located in the United States tend to be opened longer. [ABSTRACT FROM AUTHOR]

This article analyses the impact of the exchange rate on the role of dollar and euro as international currencies. It is found that exchange rate fluctuations are a major determinant of the international role of currencies only if they reflect sizeable inflation differentials. Accordingly, major changes in the international role of dollar and euro are not to be expected given the continuation of a stability-oriented US monetary policy. However, a move towards more exchange rate flexibility in emerging market economies, reflecting the need for greater monetary policy autonomy, might lead to a relative strengthening of the international role of the euro. [ABSTRACT FROM AUTHOR]

Copyright of Neue Soziale Bewegungen is the property of De Gruyter and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Based on longitudinal data in the dimensions of state, economy and society it is analyzed to what extent European societies have certain features in common which distinguish them from the United States. For most social indicators the range of variation within the European Union is bigger than the gap between Europe and the U.S. Differences between countries with different institutional arrangements persist. In terms of employment and growth dynamics Scandinavian nations, which have similarly extended welfare states as Continental European countries, have performed similarly well as the Anglo-Saxon countries. Hence there are not only different social models in Europe, but also different pathways to success. [ABSTRACT FROM AUTHOR]

Most observers ascribe the recent stagnation in Europe and her falling back behind the US-economy to insufficient and delayed deregulation and privatization, excessive social expenditure, a lag in new technology; some observers mention restrictive economic policy as well. The stagnation, however, affects the large countries primarily, while the northern ones tend to grow as fast as the United States. This study argues that one important explanation for the current economic problems is a strong worldwide trend towards uncertainty. The competitive edge of Scandinavian economies results from the fact that they managed to compensate this trend by a well-designed combination of education policy, technology policy, distribution policy and social policy. The US-policy succeeded primarily with expansive monetary and fiscal policy. The large European countries, in contrast, aggravated social uncertainty even more by an unsystematic and uncoordinated policy, so that the citizens, heavily afraid of reforms, rejected them forcefully. [ABSTRACT FROM AUTHOR]

The article illustrates how the integration of modern theory of finance and stochastic dynamic macroeconomic analysis provides a deeper understanding of the link between asset prices and consumption. It shows that this approach gives only a partial explanation for recent trends in US consumption. Comparing wealth effects in Anglo- Saxon countries with continental Europe, the article provides a perspective of the challenges for European monetary policy arising from wealth effects on consumption. [ABSTRACT FROM AUTHOR]