The financial crisis has affected the real economy in stages yet nevertheless at an unexpected rate and with all regions being affected simultaneously. It advanced almost independently of the regions' exposure to the actual initial causes, among them the subprime crisis, innovative financial...

After President Trump's departure, many expected that the transatlantic partnership would return to its previous state with the US playing a leading role. This article challenges that view. Instead, a new world order is foreseen, with different partnerships and spheres of influence. Europe can...

The economic consequences of the war could potentially be used to postpone climate policy, energy saving and the shift to renewable energy. This includes investments in atomic energy - perhaps in smaller plants - as there is still no satisfactory solution for the storage of nuclear waste.

European citizens often assess EU policy as too centralistic and bureaucratic, causing them to vote for populist parties which promise to take “my country back” or even exit from the union. However, many problems - from climate change to the refugee problem - could be better solved at the...

The economic agenda of bringing jobs back and improving dynamics can sometimes work in the short run, if past fiscal prudence has left some space for higher government expenditures for low incomes. However, in the long run, protection and redistribution without active components, innovation and...

There is evidence that a budget consolidation strategy can work with only a small and shortlived negative impact on growth. However, many countries are currently trying to consolidate at the same time as firms and consumers are deleveraging. We develop ten guidelines for consolidation during...