When it seems that everything or nearly everything has been said about the prerequisites and prospects of economic growth - in the Polish context, too (Kolodko 2002b and 2002c; Noga 2004) - it is worthwhile to revisit certain aspects of this phenomenon, which is of vital importance for the...

The paper fundamentally challenges the institutional sclerosis explanation of the present German economic stagnation. Instead we present a macroeconomic explanation focusing on the combined effects of too restrictive monetary policies, too restrictive and sometimes pro-cyclical fiscal policies...