This book provides a much-needed re-examination of monetary and fiscal policies, their application in the real world and their potential for macroeconomic policy in the 21st century. It provides a detailed discussion and critique of the "new consensus" in macroeconomics along with the monetary...

Der Autor, ein renommierter Wirtschaftswissenschaftler, schildert die Ursachen der Eurokrise und schlägt unter anderem Schuldenschnitte und Ausgliederungen einzelner Länder aus dem Europäischen Währungssystem vor. (Jürgen Plieninger)

The success of European monetary integration-what the editors of this CESifo volume call "one of the most far-reaching, real world experiments in monetary policy to date"-is not assured. Policy makers have been forced to deal with challenges posed by formulating a uniform monetary policy for...