The quality of (economic) institutions in the crisis countries of the European Union (EU) is relatively poor along several dimensions, despite the adoption of the acquis communautaire of the EU. Economic literature suggests that efficient institutions matter for macroeconomic growth and...

The quality of (economic) institutions in the crisis countries of the European Union (EU) is relatively poor along several dimensions, despite the adoption of the acquis communautaire of the EU. Economic literature suggests that efficient institutions matter for macroeconomic growth and...

In the transformation economies of Eastern Europe a rather high level of institutional heterogeneity developed after having started at low, albeit quite similar levels after the fall of the Iron Curtain. This heterogeneity is relevant both at the level of the major macroeconomic indicators and...

We estimate a New Keynesian DSGE model on French, German and Spanish data. The main aim of this paper is to check for the respective sets of parameters that are stable over time, making use of the ESS procedure (”Estimate of Set of Stable parameters“) developed by Inoue and Rossi (2011)....

Stabilisierungsfonds haben in den vergangenen Jahren, insb. während der letzten Energie- und Rohstoffpreishausse bis zum Sommer 2008, an Bedeutung gewonnen. In diesem Beitrag wird der Frage nachgegangen, welche strategische Rolle diese Fonds für die makroökonomische Governance von Ländern...

The relevance of (political) borders on the one hand and of historical conditions on the other hand for some of today’s aspects of ec onomic and social reality is well established in both theoretical and empirical research in economics as wel as in other disciplines. More surprising are...