In dem Report werden die möglichen mittel- bis langfristigen Investitions- und Wachstumswirkungen der strukturellen Veränderungen des deutschen Finanzsystems, ausgehend von einer Reihe von Gesetzesreformen seit Beginn der 1990er Jahre, untersucht. Ein Vergleich mit den USA zeigt dabei, dass...

Germany’s recent export successes and the fast recovery from the 2007 -2009 crisis made it Europe’s “economic superstar” in public opinion. This paper interprets the German performance against the background of financialisation. After an examination of the pre-crisis demand and growth...

We present an investigation into the long-run effects of financialisation on income distribution before the financial and economic crises for Germany, one of the major mercantilist export-led economies. The analysis builds on a Kaleckian approach towards the examination of the effects of...

In this paper we outline alternative policy recommendations addressing the problems of differential inflation, divergence in competitiveness and associated current account imbalances within the Euro area. The major purpose of these alternative policy proposals is to generate sustainably high...

We analyse the long-run imbalances of finance-dominated capitalism underlying the present crisis - which began in 2007 - with a focus on developments in the US and Germany. We argue that beyond inefficient regulation of the financial sector, the severeness of the present crisis has been mainly...

We review the main arguments put forward against the horizontalist view of endogenous credit and money and an exogenous rate of interest under the control of monetary policies. We argue that the structuralist arguments put forward in favour of an endogenously increasing interest rate when...

Currently fiscal policies in Germany seem to be in a very comfortable position and the German Debt Brake is regarded as an institutional precondition for this success and has been exported to the Euro area in the guise of the Fiscal Compact. In this paper we scrutinize German fiscal policies and...

The severity of the financial and economic crisis which started in 2007 cannot be understood without examining the medium- to long-run developments in the world economy since the early 1980s. The following long-run causes for the crisis can be identified: inefficient regulation of financial...