Trotz weiter gestiegener Ölpreise expandiert die Weltwirtschaft kräftig. Davon profitiert auch die deutsche Wirtschaft; sie befindet sich in einem Aufschwung, zu dem mehr und mehr die Binnennachfrage beiträgt. Allerdings haben die Zinsen weltweit merklich angezogen, und angesichts...

According to a widespread view, Germany's unemployment crisis is caused by rigid labour markets, low profitability and increasing international competition. We argue that this view does not provide a convincing explanation for the dramatic rise in Germany's unemployment rate since 1989, first...

Although the costs associated with moving an antiquated socialist economy toward its capitalist counterpart was anticipated to be significant, German industrial efficiency was expected to quickly overcome any challenges. Things turned out rather differently. Conventional wisdom blamed poor...