Germany`s disappointing economic performance causes political upsets. If the next government intents to be more successfull than the current one, fundamental reforms are to be enforced. Germany`s inadequate federal system is a major growth obstacle. The country forgoes the benefits of...

International analysis of economic growth has confirmed the theoretical assumption that international variations in per capita income can to a large extent be explained by differences in the accumulation of capital and human capital and by differing rates of technological progress. However,...

Policy interventions in large open economies do not only affect the allocation of domestic resources but change international market prices. The change in international prices implies an indirect secondary burden or benefit for all trading countries. This secondary terms of trade effect may have...

Kleine Länder sind außenwirtschaftlich verwundbarer als große Länder und deshalb sind sie zur flexiblen Anpassung an weltwirtschaftliche Entwicklungen gezwungen. Dies setzt voraus, dass sie innenpolitisch diese Anpassungsprozesse realisieren können. Eine wichtige Voraussetzung hierfür ist...