Das Jahr 2010 hat die Krisenanfälligkeit der Eurozone deutlich gemacht und den Blick auf die unzureichende Politikkoordinierung der Mitgliedstaaten gelenkt. Dieser Beitrag stellt die we-sentlichen Reformvorschläge im Bereich der Fiskalpolitik, der Wirtschafts - und Strukturpolitik und zur...

In this paper we review the linkages between the quality of public finances, that is, the level and composition of public expenditure and its financing via revenue and deficits, and economic growth. We review the various channels through which public finances affect growth and its underlying...

Why do people trade? Because they are told to! Using a unique dataset from a large German bank, we find that retail investors who report that they rely heavily on their advisors’ recommendations have a substantially higher trading volume and purchase a higher fraction of investment products...