The volume includes theoretical articles on banks' liability restrictions, on the possible causes of the banking crisis and economic-policy recommendations on banking regulation by Hans-Werner Sinn in the past three decades.

The upcoming demographic crisis in Germany demands fundamentalreforms of the pension system. In a democracy, reforms are, however, onlyfeasible when they are supported by the majority of the electorate. Todetermine whether the majority is in favor of reforms of the pension system,we calculate...

Die Pläne von Regierung und Opposition für eine längerfristig orientierte Rentenreform nehmen Gestalt an, und die parlamentarischen Beratungen über ein neues Reformgesetz sollen bis zum Jahresende abgeschlossen werden. Unbeachtet bleiben aber nach wie vor die eigentlichen Grundlagen...

It is shown that the net fiscal externality created by an additional member of a Pay-as-you-go-pension system that is endowed with individual accounts equals the gross contribution of this member. In Germany, this is an amount of about DM 175,000. The paper uses this information to design a...

The upcoming demographic crises in Germany demands fundamental reforms of the pension system. In a democracy, reforms are, however, only feasible when they are supported by the majority of the electorate. To determine whether the majority is in favor of reforms of the pension system, we...