Those economists who expected the increasing US budget deficits in recent years to have a negative impact on private investment spending have so far been proved wrong. Hans-Peter Fröhlich provides an analysis of what has happened and examines the interrelation between public sector deficits and...

The current American and European mutual accusations of agricultural protectionism are an obvious case of the pot calling the kettle black. What series of events led up to this confrontation? And how can the conflict situation be eased?

In a recent editorial (cf. INTERECONOMICS, No. 3/1984, p. 101) Professor Armin Gutowski commented on the surprising increase of the external value of the US dollar which seems to defy traditional explanations of exchange rate determination. The following article presents an American...

The rise in unemployment is often blamed not only on the slowdown in economic growth but also on the increasing pressure to rationalise. Greater rationalisation should, however, have led to an increase in labour productivity, but this has not happened in the Federal Republic of Germany nor in a...