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Wirtschaftstätigkeit der betroffenen Nation ausgewirkt haben. Die Zentralbank hat im Zusammenhang mit systemweiten Störungen die Aufgabe … Wirtschaftssystem im Falle einer systemischen Krise durchläuft und wann die Zentralbank einzuschreiten hat. Dazu wird die … theoriengeschichtliche Entwicklung einer Zentralbank zum Kreditgeber der letzten Instanz beleuchtet. Die Analyse soll dabei Antworten darauf …
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This paper reviews the performance of the euro area since the euro's launch 20 years ago. It argues that the euro crisis has exposed existential flaws in the euro regime. Intra-area divergences and the corresponding buildup of imbalances had remained unchecked prior to the crisis. As those...
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The resilience of the German banking system is studied on the semiaggregated level from 1968 to 2022. We distinguish between Large Banks, Regional Banks, Landesbanken, Sparkassen and Credit Unions and study their z-scores as a measure of resilience in response to the monetary policy stances of...
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The actions by the European Central Bank (ECB) during the global and European crises have triggered a highly controversial debate, in particular in Germany, about the costs and benefits of the chosen policy path. The article reviews, compares, and evaluates the different arguments made in favor...
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