This paper shows that the eurozone payment system does not effectively protect member states from speculative attacks. Suspicion of a departure from the common currency induces a terminal outflow of central bank money in weaker member states. TARGET2 cannot inhibit this drain but only protects...

This paper shows that the eurozone payment system does not effectively protect member states from speculative attacks. Suspicion of a departure from the common currency induces a terminal outflow of central bank money in weaker member states. TARGET2 cannot inhibit this drain but only protects...

Der Artikel analysiert die Welle der Infektionen mit dem Virus SARS-CoV-2 und schätzt unter Verwendung logistischer Regressionen die Wirkung staatlicher Eingriffe auf den Infektionsverlauf in Deutschland.

The paper assesses the effectiveness of the large-scale lockdowns that took place during the SARS-CoV-2 (corona) pandemic. Countries considered include the United States, South Korea, Germany, Austria, Switzerland, Italy, Spain, and Sweden. Our research strategy utilizes the fact that fatal...

Europa befindet sich gegenwärtig in einer problematischen Lage. Die Schulden der Euro-Peripherieländer wachsen beständig. Vor allen Dingen haben manche Länder Löhne und Preise, die weit von ihrem wettbewerblichen Niveau entfernt sind. Die Zahlungsbilanzdefizite verschwinden nicht, und die...