Seit dem Jahre 1972 übertrag in der Bundesrepublik Deutschland die Zahl der Gestorbenen in jedem Jahr die Zahl der Geborenen. Die natürliche Bevölkerungsbewegung war mit anhaltenden Geborenendefiziten auf eine Schrumpfung der Bevölkerung gerichtet. Ausgeglichen wurden die Geborenendefizite...

Europe's banking system has been in a state of systemic fragility since 2007-08. The current phase is marked by a sequence of interactions between sovereign problems and banking problems, resulting in gradual contagion to more countriesand more asset classes. The banking and sovereign crises are...

The cyclical situation at the beginning of the European Monetary Union (EMU) is favorable: The upswing in Euroland has firmed, unemployment is going down, and inflation is low. However, economic growth outside the new currency area has weakened significantly during 1998, and fears are mounting...

Post Keynesian theory as opposed to Walrasian theory does not provide the foundations for a unique general equilibrium but claims the existence of multiple equilibrium positions. In this article, such a multiple of equilibrium positions is explained by different market constellations which are...