Since May 2010 at the latest, the ECB has been criticized for financing government bonds – at least indirectly – and for tolerating to be put under pressure by the fiscal side. The ECB itself has justified its securities markets programme and, thus, its government bond purchases by the need...

Die vorliegende Studie wurde von Sandra Hamella, geb. Waller, während ihrer Tätigkeit als wissenschaftliche Mitarbeiterin im ifo Institut für Wirtschaftsforschung, München, begonnen und im Sommer 2005 an der Wirtschaftswissenschaftlichen Fakultät der Universität Regensburg als Dissertation...

This essay argues for adopting a Christocentric vision, as opposed to the anthropocentric one, where man, with his reason and science, believes he can solve everything. But both A. Einstein and J.M. Keynes believed that the new issues (generated by the crisis) cannot be solved with the same...

Two signaling games of monetary policy are considered: game one examines the effect of hysteresis on the labor market on the results of the repeated monetary policy game. Disciplinary effects of reputation disappear in presence of hysteresis. The second game compares weifare effects of monetary...