Im Rahmen der Konzertierten Aktion zur Abfederung der Folgen der Energiepreiskrise hat die Bundesregierung 2022 den Unternehmen die Möglichkeit eingeräumt, ihren Beschäftigten bis Ende 2024 jeweils bis zu 3.000 Euro steuer- und abgabenfrei auszuzahlen. Mit dieser Maßnahme sollten die...

Given the unobserved nature of expectations, this paper employs latent variable analysis to examine three financial instability models and assess their out-of-sample forecasting accuracy. We compare a benchmark linear random walk model, which implies exogenous instability phenomena, with a...

We study a model in which two players with opposing interests try to alter a status quo through instability-generating actions. We show that instability can be used to secure longer-term durable changes, even if it is costly to generate and does not generate short-term gains. In equilibrium,...

In this paper the vision of the "Young" and "Elder" Lamfalussy on the origins of instability in capitalist economies will be contrasted. The young Lamfalussy found the origins of instability in medium-term cumulative processes in the real sector of the economy, very much inspired by the vicious...