We collect new data to assess the importance of supply-side credit market frictions by studying the impact of financial sector recapitalization packages on the growth performance of firms in a large cross-section of 50 countries during the recent crisis. We develop an identification strategy...

According to estimates made by several German economic research institutes, economic growth will slow down also in the coming year. For the first half of 1967 an increase in terms of money by 5% and in real value by 2% is expected. As compared with growth rates in former years this growth is...

Policymakers in the EU member states are currently shaping rescue packages to prevent the financial crisis hitting their economies with unmitigated force. Each government is responding to the emerging problems with a country-specific set of measures. Given the global nature of the crisis, would...

Schmieding, H.: The case against a common fiscal boost in Europe. - S. 4-9 Gros, D.: Covergence and divergence in public finance. - S. 10-12 Boeri, T.: Seizing the European day. - S. 13-15 Belke, A.: Fiscal stimulus packages, uncertainty and economic crisis: is the option of waiting valuable? -...