For all those interested in "Optimum Currency Areas" - my new infoposter "ECONOMICS" is now available:
- the poster gives an overview of the development of economic theory from its beginnings.
- the poster shows the historical roots of economic ideas and their application to contemporary economic policy debates.
View and order at http://www.cee-portal.at/PrestaShop
Best regards
Martin Kolmhofer
1. Optimum Currency Areas Introduction to Economics Metropolitan University Prague Martin Kolmhofer 2011/2012
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7. Big Mac Index Informal way of measuring the purchasing power parity (PPP) between two currencies PPP - says that a currency’s price should reflect the amount of goods and services it can buy. Tendencially developed countries currencies are highly valued, developing nations currencies are less valued
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12. What happens without exchange rate “buffer”? If competitiveness cannot be achieved via lower prices (either via exchange rate or lower wages or increased productivity) it will result in lower quantity demanded – Result: unemployment
![The Problem ,[object Object],[object Object]](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)