The evaluation of economic effects of workers participation is not simple from the methodical point of view because of specific characteristics of establishments with works councils. Especially recent studies show contradictory results. In this study problems are pointed out, discussed, and...

This paper contributes to the analysis of the money supply process in Germany during the period of monetary targeting by the Bundesbank from 1975-1998. While the standard money multiplier approach assumes that the money stock is determined by the money multiplier and the monetary base it is...