The financial crisis has demonstrated the need to better understand the complex interactions between the financial system and the real economy. While stability has become the main focus of the regulatory changes, the implications for growth and equity are also important. To think through these...

The 2010 European debt crisis has revived the discussion concerning the optimum adjustment strategy in the face of asymmetric shocks. Whereas Mundell's (1961) seminal theory on optimum currency areas suggests depreciation in the face of crisis, the most recent emergence of competitive...

These days, plenty of cognoscenti in academia and politics share the common concern that the build-up of global macroeconomic imbalances threatens the international economy. While there is broad disagreement on the essence of what an imbalance exactly is, the term is generally associated with...

During the 1997/98 Asian crisis and the 2007-2010 world financial and economic crisis, China has proved to be a stabilizer for East Asia and the world. The paper stresses the crucial role of the dollar peg for macroeconomic stability in China. The paper explores the current role of China's...

The Hong Kong Monetary Authority and the Bank for International Settlements (BIS) co-hosted a research conference on "The price, real and financial effects of exchange rates" on 28-29 August 2017 in Hong Kong. The event was the wrap-up conference of a research programme of the BIS Representative...

Die vorliegende Dissertationsschrift befasst sich mit innovativen Aktivitäten und deren Wirkung im regionalen Raum. Innovationen und das damit einhergehende neu geschaffene Wissen sind wesentliche Treiber wirtschaftlicher und gesellschaft-licher Entwicklung. Innovationen beziehungsweise neue...

The dissertation examines training outcomes of the legal minimum wage in Germany. Human capital and labor market segmentation theories, labor economic approach constitute the framework of the analysis. We employ a quasi-experimental research design using German Socio- Economic Panel 2014-2016....