The paper is concerned with the traditional "assignment" to be found in many textbooks that holds central bankers responsible for inflation – and inflation only – while government politicians are recommended to care for the short-term stabilisation of the economy (or not to interfere at all,...

Income inequality is "the defining challenge of our time", former US President Barack Obama said in a speech in December 2013. Undoubtedly, the financial crisis and the sluggish recovery in its aftermath have increased the attention to rising inequality. This survey addresses the consequences of...

Income inequality is "the defining challenge of our time", former US President Barack Obama said in a speech in December 2013. Undoubtedly, the financial crisis and the sluggish recovery in its aftermath have increased the attention to rising inequality. This survey addresses the consequences of...

Italien leidet politisch und ökonomisch unter der Finanzkrise in der Europäischen Union. Das Wachstum ist negativ und die Arbeitslosigkeit steigt. Obwohl die Neuverschuldung verringert wurde und die Handelsbilanz Überschüsse aufweist, bleibt ein Zinsspread bestehen. Zudem ist zu befürchten,...

This paper describes the IWH macroeconometric model, a quarterly structural model for the German Economy. It focuses on the specification and estimation on supply-side aspects of the model. This approach guarantees a theoretical derived long-run model equilibrium. It combines short-run...