Titlebook: Inflation and Unemployment in a Monetary Union; Michael Carlberg Book 2008 Springer-Verlag Berlin Heidelberg 2008 European Monetary Union.

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The ease of controlling electrical drives is an important aspect for meeting the in­ creasing demands by the user with respect to flexibility and precision, caused by technological progress in industry as well as the need for energy conser­ vation. At the same time, the control of electrical drives

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nsients. Stiff coupling between the different parts of the drive is assumed so that all partial masses may be lumped into one common inertia. The equations are written as state equations for the continuous state variables ω, ε involving energy storage, e. g. [38,88]). Only mechanical transients are

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Introductionnflation in Europe. On the other hand, it raises unemployment there. We assume that the European central bank has a quadratic loss function. The European central bank changes European money supply so as to reduce the loss caused by inflation and unemployment in Europe.

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Fiscal Policies in Germany and Francengly, an increase in French government purchases raises producer inflation in France. For ease of exposition we assume that fiscal policy in one of the countries has no effect on producer inflation in the other country.

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Fiscal Policies in Germany and Francean increase in French government purchases lowers unemployment in France. For ease of exposition we assume that fiscal policy in one of the countries has no effect on unemployment in the other country.

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Some Numerical Examples point. For easy reference, the solution is reproduced here: .ΔM denotes the required change in European money supply, π is the initial rate of inflation in Europe, and u is the initial rate of unemployment in Europe.

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