Norbert Bub, Dieter Duwendag, Ruolf Richter (Herausgeber): Geldwertsicherung und Wirtschaftsstabilität. Festschrift für Helmut Schlesinger zum 65. Geburtstag. Fritz Knapp Verlag, Frankfurt 1989, 511 Seiten, 60 DM

Using a four-country Mundell-Fleming model including portfolio and wealth effects, we explore the question whether some types of policy coordination could improve the outcomes of a financial shock like the Asian crisis. Time-consistent equilibria are computed: a Nash equilibrium, a target zone...

The German hyperinflation in 1923 was caused by monetary financing of the highly deficient German state budget by a de-pendent central bank. The social and economic consequences of the hyperinflation were disastrous. Combined with an instable politi-cal atmosphere, paving the way for the rise of...