The Generalized System of Preferences (GSP) was established to promote the exports of low-income countries to industrialized countries in order to support their economic growth and development. However, the design of these schemes is rather complex and the effects of GSP have been found to be...

Die Weltwirtschaft wächst seit einiger Zeit deutlich langsamer als früher. Die wirtschaftliche Dynamik bleibt hinter den Erwartungen zurück. Holger Zemanek, Bundesministerium der Finanzen, sieht, zumindest für Deutschland, keinen besorg­niserregenden, strukturellen Abwärtstrend bei den...

The issue of the backward-looking versus the forward-looking Phillips curve is still an open question in the macroeconomics profession. We identify the real output effects of monetary policy shocks as a crucial implication of the traditional Phillips curve. The backward-looking Phillips curve...