This brief assesses the experiences of Europe's policy regime in the two years since the introduction of the euro in 1999, particularly the performance of the European Central Bank (ECB), the institution in charge of conducting monetary policy for the euro area. Conventional accounts of European...

Although the costs associated with moving an antiquated socialist economy toward its capitalist counterpart was anticipated to be significant, German industrial efficiency was expected to quickly overcome any challenges. Things turned out rather differently. Conventional wisdom blamed poor...

Digitalisierung und damit verbundene Innovationen treiben den Strukturwandel in der Finanzwirtschaft an.Sie können den Zahlungsverkehr vielleicht sicherer, schneller und bequemer machen. Andererseits können sie zu Verwerfungen und Instabilitäten im Finanzsystem führen und Verbrauchern...