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 study discusses the distribution of roles between monetary and fiscal policy in stabilising the price level. It questions the view that price level stabilisation should be the sole responsibility of central banks. It argues that there is a case for national governments also being responsible...

While the old systems competition took place with closed borders, globalisation has brought about a new type of systems competition that is driven by the mobility of factors of production. The new systems competition will likely imply the erosion of the European welfare state, induce a race to...

While the old systems competition took place within closed borders, globalisation has brought about a new type of systems competition that is driven by the mobility of factors of production. The new systems competition is likely to lead to the erosion of the European welfare state, induce a race...

Open borders imply systems competition. This paper studies the implications of systems competition for the national competition rules. It is shown that an equilibrium where all countries retain their antitrust laws does not exist, since abolishing this law makes it possible for a single country...

The emergence of the Asian tiger countries and the participation of the ex-communist countries in world trade has reduced the equilibrium price of labor in western Europe and elsewhere. However, the actual price of labor hardly reacts, because the welfare state's minimum replacement incomes are...