"German and European immigration policies have only recently begun to cope with the inevitable: growing labor demand in the face of high unemployment and a shrinking labor force due to demographic change. Despite the implementation of Germany's first immigration act and several European...

It is widely admitted that markets are the main driving force of the economy but governments' intervention could, in some circumstances, improve on their outcomes. This book provides a structured analysis relating theoretical arguments, implementation approaches and effectiveness of industrial...

Looking at historical cross-country interactions, this book examines the role of the US in the world economy. Illustrating that US shocks tend to have a global nature and that Monetary Union only partially shelters the Euro area from its external environment, the US should fully assume its...

A survey of past financial crises, starting with the great banking collapses of the interwar period. The current turmoil has prompted a number of questions regarding both its origins and ways to avoid its repetition. The historical background and the evolving institutional framework of banking...

Within the New Consensus Macroeconomics, monetary policy is upgraded while fiscal policy is downgraded. This new monetary policy has been the main instrument of policy under the guise of inflation targeting, an approach pursued by a number of central banks worldwide. This book raises problems...