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...

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...

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...

Der Report betrachtet das Verhalten der Gläubiger - vor allem der Banken - in der Eurokrise. Die größten Gläubiger der heutigen Krisenländer Griechenland, Spanien, Irland, Portugal und Italien sind deutsche und französische Banken. Diese haben 2008 große Verluste in der US-Subprimekrise...

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 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 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...

Der Report analysiert die Entwicklung der privaten Investitionen in Deutschland. Im Vergleich zum Euroraum hat sich in Deutschland seit 2000 eine große Investitionslücke gebildet. Diese Lücke ist vor allem auf den starken Rückgang der Bauinvestitionen zurückzuführen, während sich die...