Laut der Asset Meltdown Hypothese (AMH) könnte ein Einstieg der Babyboomer-Generation in die Rente zu einem massiven Verkauf von Wertpapieren zur Rentenfinanzierung führen, was dann zu einem Fall der Wertpapierpreise und damit einer Verringerung der Renten führen würde. In diesem Papier...

Agesichts des Klimawandels und anderer ökologischer Probleme finden die Positionender Degrowth- und Postwachstumsansätze vermehrt Anhänger:innen. Allerdings habendiese wachstumskritischen Ansätze viele Probleme. Die Wachstumskritik ist zwar in vielenBereichen berechtigt, die Schrumpfung oder...

Wie haben sich Coronapandemie und Inflation auf die Nachhaltigkeit in Deutschland ausgewirkt? Die Study zeigt anhand einer Auswertung der vier Ziele des "Neuen Magischen Vierecks der Wirtschaftspolitik" (NMV), wie die Krisen Wirtschaft, den Staat und sowie das Soziale in Deutschland stark in...

Die aktuelle Auswertung des Neuen Magischen Vierecks der Wirtschaftspolitik für die Jahre 2019 bis 2023 zeigt, dass Deutschland in Sachen Nachhaltigkeit viele Ziele nicht erreicht hat. Beim materiellen Wohlstand und der ökonomischen Stabilität ist das BIP und der Konsum pro Kopf gesunken,...

Much of the literature on the effect of housing wealth on consumption has been embedded in a simple life-cycle model in which housing price changes work as a wealth effect. In such models, windfall gains in housing always lead to positive changes in consumption. However, this might constitute a...

The paper analyses the accounting relationships between the financial and the real economy. It will be shown that accounting can clarify the nature of economic phenomena and be an important building block for economic theory. The paper will argue that there is much confusion about key...

This paper investigates the reasons for the exceptionally robust performance of the German labour market during the Great Recession. While GDP dropped by more than five per cent in 2009, employment remained constant and started to increase soon after. We compare this recession to other major...

Much of the literature on the effect of housing wealth on consumption has been embedded in a simple life-cycle model in which housing price changes work as a "wealth effect". In such models, windfall gains in housing always lead to positive changes in consumption. However, this might be a...

The paper presents a critique of loanable funds theory by using simple accounting relationships. It is shown that many economists identify saving and the credit supply by interpreting the macroeconomic saving-investment identity as a budget constraint. According to that interpretation, more...

This paper looks at the relation between mortgage credit and housing values. It has become conventional wisdom in policy circles that credit growth led to the housing bubble in the US. However, this statement has not been empirically tested as of yet. The paper uses the Johansen procedure to...