[Erholung der Weltkonjunktur ohne große Dynamik] Die Weltwirtschaft expandiert seit dem Frühjahr 2009 wieder. Die Erholung von der schweren Rezession dürfte sich in den kommenden beiden Jahren fortsetzen. Allerdings bleibt die Weltkonjunktur vorerst gespalten. Während die Produktion in den...

Table of Contents: I. Kräftige Konjunkturbelebung verstärkt Inflationserwartungen in den Industrieländern 3 1. Deutliche Zunahme der Produktion 3 2. Ausblick: Geldpolitik dämpft Konjunktur 1989 6 3. Stabilitätsorientierung der Geldpolitik kontrovers 8 II. Was kann die Geldpolitik leisten? 9...

Table of Contents: I. External Challenges 12 1. The Transformation of Central and Eastern Europe 12 a. Trends in Central and Eastern Europe's Emerging Market Economies (EMEs) 12 b. The Impact on Germany 14 c. Political Consequences 14 2. Migration Pressures 16 a. The European Perspective 16 b....

Two datasets are combined to analyze a few standard implications of the theory of economic growth. Real GDP per capita (RGDP) and the investment share (IS) are taken from Summers, Heston (1988), the ratio of net external assets to GDP (=NAP) are calculated by Sinn (1990). For the period...

The concept of rules for monetary policy has been more and more critized in recent years. The Deutsche Bundesbank is also urged to give up monetary targeting. The idea is that the economic performance could be improved if monetary policy became more pragmatic and was more concerned about slow...

Real effective exchange rates and economic activity in trading partner countries have a considerable impact on real exports of the G7-countries. Using an errorcorrection framework we find that the short-run and the long-run effects differ substantially between the countries. The relative...