"Institutional Overburdening" to a large extent was a consequence of the "Great Moderation". This term indicates that it was a period in which inflation had come down from rather high levels. Growth and employment were at least satisfying and variability of output had substantially declined. It...

Criticism of the course followed by the Deutsche Bundesbank has been increasing recently. Professor Dr. Otmar Issing explains the theoretical concept of German monetary policy and the basic principles of the Bundesbank's monetary targeting.