Zusammenfassung Wir untersuchen die Eignung von ifo-Geschäftserwartungen und ZEW-Konjunkturerwartungen als Frühindikatoren für die deutsche Industrieproduktion. Anhand von Granger-Kausalitätstests wird gezeigt, dass die auf Umfragen unter Finanzanalysten basierenden ZEW-Konjunkturerwartungen...

Summary This contribution empirically explores the drivers of labour market reform acceptance for the individual level in Germany. For that purpose we make use of the representative German General Social Survey (ALLBUS). This survey offers data to which extent individuals support benefit cuts,...

Summary Government bond markets within the euro zone may have fallen victim to a self-fulfilling crisis of confidence. Eurobonds may contribute to stabilization in the short-run but would imply destructive disincentives and incalculable risks for joint and several guarantors. Monetary interest...

Zusammenfassung Während viele Verfassungen dem Gewissen die höchste Autorität als Verhaltensmaßstab zubilligen, behandeln nur sehr wenige ökonomische Arbeiten dieses Konzept explizit. Der Eindruck, dass die Ökonomik eine zentrale ethische Instanz missachte, verschärft den Vorwurf einer...

Summary This contribution highlights the complex causes of the European debt crisis and discusses available options for a solution. Relevant causes included are debt incentives which are effective permanently, the lacking optimality of the European currency area and deficient institutional debt...

Abstract Mainstream economists are reluctant to integrate features of bounded rationality into their behavioural assumptions. However, particularly in the field of economic policy the scope for limited rationality is given, since voters lack incentives for rational reasoning concerning their...

Abstract In his contribution Carsten Hefeker points out that most of the official arguments concerning the necessity of the Stability and Growth Pact are not convincing. Nevertheless, a mechanism that credibly avoids excessive debts and deficits is needed in most member states. It would be more...