This paper provides new evidence on the sustainability of public finances in German states (Laender) by exploiting a newly compiled database covering the years 1950-2011. Unlike previous studies on Germany, we analyze fiscal sustainability by applying second generation panel cointegration...

This paper explores the process of re-convergence of GIIPS sovereign bond yields, which restarted in Q3 2012. We empirically analyse the impact of conventional and unconventional monetary policy and fiscal support measures in the EMU on bond pricing behaviour. We find that yield re-convergence...

This paper provides a critical reading of Janek Wasserman’s The Marginal Revolutionaries: How Austrian Economists Fought the War of Ideas. Wasserman depicts the evolution of the Austrian School from the 1860s until today, a particularly illuminating narrative for the readers of this journal....

Im Mittelpunkt dieses Beitrages steht ein besonderer Aspekt in der Diagnose der gegenwärtigen Krise, ihrer Ursachen sowie der bisherigen Lösungsversuche, nämlich die zu beobachtende Priorität des kurzfristigen Denkens in Politik und Wirtschaft. Diese myopische Perspektive, deren moderne...