Zusammenfassung: Aufbauend auf der Idee des kompensierten Golddollars von Irving Fisher (1913) handelt der Beitrag von einer kapitalfundierten Euro-Gemeinschaftswährung mit Kaufkraftgarantie, dem kapitalfundierten Hart-Euro (KHE). Das Konzept beinhaltet zunächst die Funktionsweise und die...

The article discusses the validity of Walras' Law in case of quantity constraints.

This article summarises the results of a study on the Germany energy crisis and the need for an extension and modificationsof the electricity price break. The study shows that the energy crisis led to a short-run output loss comparable to the output losses as-sociated with the COVID-19 crisis in...

Im vorliegenden Beitrag werden die langfristigen Trends in der Entwicklung der Ungleichheit in Deutschland analysiert. Er geht aber noch einen Schritt weiter. Wie anhand eines Beispiels gezeigt wird, kann man die Ungleichheit in Deutschland in drei Komponenten zerlegen: die Ungleichheit zwischen...

The paper presents a model where individuals decide to become workers or entrepreneurs in the presence of capital constraints and where individuals differ in wealth levels. The model shows that the higher the initial level of inequality in wealth is, the lower the long run aggregate wealth of...

This article summarises the results of a study on the Germany energy crisis and the need for an extension and modificationsof the electricity price break. The study shows that the energy crisis led to a short-run output loss comparable to the output losses as-sociated with the COVID-19 crisis in...

The prime task of modelling cross-market contagion is to predict the imminence of a pestilent currency crisis. Empirical models are developed here to study the roles and channels of contagion in exchange rate volatilities, in ways which are as economically sound and econometrically simple as...

It is widely believed that seriously excess debt problems form a major cause of the 1997 Asian financial crisis. This paper investigates empirically the role of the debt problems with respect to both the won/$US rate fluctuations and the won collapse in November 1997. The problems are...

Im vorliegenden Beitrag werden die langfristigen Trends in der Entwicklung der Ungleichheit in Deutschland analysiert. Er geht aber noch einen Schritt weiter. Wie anhand eines Beispiels gezeigt wird, kann man die Ungleichheit in Deutschland in drei Komponenten zerlegen: die Ungleichheit zwischen...

In a surprisingly growing number of regions in Germany private "regional currencies" are issued as a cash substitute for the euro. Currently, these regional currencies are conceived almost exclusively as Schwundgeld (depreciative currency), which loses value on a predetermined timescale. This...