1979 saw a pronounced cyclical downturn with mounting, inflation and balance of payments problems bear upon the western industrialized countries with the long-expected recession materializing in the USA early in 1980. In Western Europe demand and production began to slide a little later....

There is thus a fundamental credibility issue about the willingness of the ECB to be a lender of last resort in the government bond markets. This will continue to make the eurozone a fragile construction. As a result, the possibility of a future euro crisis cannot be excluded.

Using Germany as an example, this article examines how different groups of small andmedium-sized enterprises were impacted by and recovered from the COVID-19 pandemic.The study found that at the onset of the pandemic, turnover losses were experienced notjust by enterprises regarded as poor...

The world-wide economic recession, which began as a result of the second explosive rise in oil prices in the spring of 1980, lasted throughout the whole of last year. Unemployment in industrialised countries has shot up at an alarming pace, whereas only limited progress was registered in the...