Ronald Reagan's first term of office is drawing to a close. What has become of the promises he made in his economic programme four years ago and what is the outlook for the short and medium term?

Fiscal policy is widely criticized for its failure to act as a stabilizing countercyclical force in the European Monetary Union. Two periods should be distinguished: Prior to the Financial Crisis of 2008, when monetary policy had traction to pursue stability for the aggregate eurozone, fiscal...

The Financial Crisis of 2008, and the Great Recession in its wake, have shaken up macroeconomics. The paradigm of the 'New' Neoclassical Synthesis, which seemed to provide a robust framework of analysis for short-run macro not long ago, fails to capture key elements of the recent crisis. This...

The theory and practice of stabilization policy has taken many turns as it evolved over the past century, oscillating between high hopes and deep skepticism regarding the capacity - and desirability - of governments taking responsibility for macroeconomic stability. This paper reviews the...

There can be no doubt that job security and wages are intimately linked. From the point of view of workers, they both are desirable attributes of a job. From the point of view of employers, they both are costly to provide. On the level of the economy at large, they are joint outcomes of supply-...

Abstract: Meine Dissertation stellt eine historische Rekonstruktion der Krisenforschung der ordoliberalen Ökonomen Wilhelm Röpke, Walter Eucken und Friedrich A. Lutz in der Zwischenkriegszeit dar. Eine solche Rekonstruktion ist notwendig, da seit der Eurokrise im Jahre 2010 die Gefahr bestand,...