The Eurosystem and the U.S. Federal Reserve System follow quite different approaches to the execution of monetary policy. The former institution adopts a "hands-off" approach that largely delegates to depository institutions the task of stabilizing their own liquidity at high frequency. The...

The similarities and differences between the transition experiences of the Central European countries and the People's Republic of China are often, wrongly, taken as alternative approaches to the same problem. In reality, there is great complexity, not only in the environments of these two great...

In den 70er Jahren begannen in China grundsätzliche Reformen, die 1992/93 deutlich an Bedeutung gewannen und nunmehr das Ziel verfolgen, eine sozialistische Marktwirtschaft ins Leben zu rufen. Vietnam und die Mongolei haben ebenfalls Programme gestartet, um das Marktelement in ihren...