The Trans-European Automated Real-Time Gross settlement Express Transfer system (TARGET) imbalances within the Eurozone can be interpreted as a sign of a missing balance of payments adjustment mechanism for the member countries. As the Eurozone lacks a fiscal union, in theory it is more of an...

The Target imbalances within the Eurozone can be interpreted as a sign of a missing balance of payments adjustment mechanism for the member countries. As the Eurozone lacks a fiscal union, in economic theory it is more an exchange rate union or a system of fixed exchange rates than a monetary...

In this paper, we first present the state and the development of the European capital and current account imbalances. We demonstrate how large the heterogeneity among European countries is and that clustering here different types of countries is possible, but that it leads to different groupings...

Dieses Lehrbuch wendet sich an Studierende der Wirtschaftswissenschaften, aber auch an Interessenten anderer Fachrichtungen und an Praktiker. Vermittelt wird ein Überblick über die Volkswirtschaftslehre mit dem Ziel, die wichtigsten Fragestellungen dieser Disziplin aufzuzeigen und die Methoden...

Only a few years ago, it was a widespread belief that globalisation would trigger processes of democratisation worldwide. However, even old and established democracies such as the United States have recently revealed serious weaknesses. This article shows that the US election system is heavily...