The isolation of national telecommunications markets in the past has meant that pronounced differences remain among the R&D systems operating in the countries of the European Community. The intended opening up of public procurement markets by the end of 1992 could therefore lead to substantial...

During the course of 1980 West German enterprises and private persons were responsible for approximately DM 8.16 bn in foreign investments. The sum total of German foreign investments has now reached a level of DM 74.2 bn. Both these figures indicate the increasing internationalisation of the...

The Swiss debt brake served as a model for the new German budget rule. The two tools share the long-term goal of rendering fiscal policy sustainable by stabilising nominal debt as well as the short-term goal of smoothing the economic cycle. Debt brakes thus act as an automatic stabiliser within...

The extensive public sector measures in support of the financial sector have been key to managing the financial crisis that erupted in mid-2007 and intensified after the bankruptcy of Lehman Brothers. This article looks into the measures taken by central banks to contain the impact of the...