Macroprudential policy mainly aims to enhance financial stability and reduce the possibility of costly financial crises. However, to achieve this, macroprudential policy decisions may have some unintended side effects on economic growth. The paper provides an empirical framework for...

Begrenzung, Einschränkung oder gar Schrumpfung sind als Angstbegriffe verpönt. Doch genau das werden wir brauchen, um die Ökosysteme nicht noch stärker zu schädigen. Ein anderes Wirtschaften ist dringend nötig, und es ist - wie der Transformationsforscher Hans Holzinger zeigt - auch...

Industrial policies, such as infrastructure investments and export tariffs, affect the allocation of labor and incomes across sectors, attracting substantial lobbying efforts by special interest groups. Yet, the link between structural change and lobbying remains underexplored. Using more than...

This original and panoramic book proposes that the underlying forces of demography and globalisation will shortly reverse three multi-decade global trends – it will raise inflation and interest rates, but lead to a pullback in inequality. “Whatever the future holds”, the authors argue,...

Key Features:Detailed analysis of key issues such as trade, services, international trade, energy and pollutionComparative study of economic growth, disparity and convergence of the Chinese and Indian economies.

Rural-to-urban migration in China has transformed the lives of millions of rural residents. This paper reviews empirical evidence on the impacts of migration on the welfare of individuals and households in rural communities. After first discussing the evolution of institutions that have shaped...