Für Clemens Fuest, ifo Institut, ist die Debatte über die Probleme des Standorts Deutschland durchaus berechtigt. Die Wirtschaftspolitik müsse handeln, wenn sie dem Rückgang der Wirtschaftskraft und damit auch des Wohlstands in Deutschland entgegenwirken wolle. Zu den relevanten Themen...

Evidence from a current panel of harmonized worldwide data highlights a robust negative effect of income inequality on economic growth that we trace back to its transmission channels. Less equal societies tend to have less educated populations and higher fertility rates, but not necessarily...

We investigate monopolistic tendencies and the intensity of currency competition on the crypto market in the light of Hayek's "Denationalization of money". Interestingly, Hayek never considered differentiation and specialization by innovative private currencies could lead lasting currency...

Der Preis der Schwedischen Reichsbank für Wirtschaftswissenschaften im Gedenken an Alfred Nobel geht an Ben Bernanke, Douglas Diamond und Philip Dybvig. Nach Ansicht der Königlich Schwedischen Akademie der Wissenschaften haben die Preisträger "unser Verständnis der Rolle der Banken in der...

This paper shows that important insights for fiscal policy can be derived from Joseph Schumpeter's academic work. This concerns his fundamental distinction between theories in which the monetary sphere is identical with the real sphere ("real analysis"), and theories in which financial sphere is...

This study describes the Chinese growth model over the past 40 years. We show that China's growth model, with its dominant role of the banking system and "the banker", is a perfect illustration of the necessity and power of Schumpeter's "monetary analysis". This approach has allowed us to...

The ECB has embarked on an uncertain path with the digital euro project. It is pursuing a strategy that is unclear about whatproblems it is trying to solve and what specific goals it is trying to achieve. The ECB has not yet been able to diagnose a clear marketfailure that would justify such...

The study discusses the distribution of roles between monetary and fiscal policy in stabilising the price level. It questions the view that price level stabilisation should be the sole responsibility of central banks. It argues that there is a case for national governments also being responsible...

Das Europäische Währungssystem und die geldpolitische Koordination in Europa Die Studie untersucht den Prozeß der monetären Koordination in Europa bei unterschiedlichen institutionellen Rahmenbedingungen – dem EWS mit den derzeitigen Regeln – einem modifizierten EWS mit einer...

Die vorliegende Arbeit versucht, anhand eines ricardianischen Modells eine theoretische Fundierung des Konzepts der gesamtwirtschaftlichen Wettbewerbsfähigkeit zu leisten. Im Rahmen dieses Theorieansatzes lassen sich wechselkursbedingte Störungen der internationalen Arbeitsteilung...