In Casino Capitalism Hans-Werner Sinn examines the causes of the banking crisis, points out the flaws in the economic rescue packages, and presents a master plan for the reform of financial markets. Sinn argues that the crisis came about because limited liability induced both Wall Street and...

Der Artikel spricht sich gegen die Privatisierung des Schienennetzes der Staatsbahnen in Europa aus. Die Privatisierungen in vielen Branchen hätten dem Verbraucher Vorteile beschafft, aber wie am Beispiel Großbritannien zu erkennen ist, ist eine Privatisierung des Schienennetzes von Nachteil,...

1. Auftrag und Eingrenzung – 2. Hintergrund – 3. Die wirtschaftliche Bedeutung des Krisenmechanismus für Deutschland und Europa – 4. Ein neuer Krisenmechanismus – 5. Die Stabilisierungswirkungen – 6. Ergänzender Reformbedarf – 7. Schlussbemerkungen

This chapter argues that traditional social programmes of the modern welfare state have concentrated on replacing the earnings which are not enjoyed by those without jobs.This offers an incentive to those capable of earning only very low wages to qualify for (higher) benefits by declining jobs...

This chapter addresses questions about the effect of the introduction of the euro on price differentials across the Union and also on the cost of capital in its member countries, which may account for capital flows from the slow growing centre to the more buoyant peripheral states. Nominal...

This chapter re-examines the case for reforming the Common Agricultural Policy. The health and environmental aspects of modern agriculture have been highlighted by British experience with BSE and FMD. Historically, agricultural support has been rationalised by reference to security of supply,...

This chapter addresses the weakness of the euro against the US dollar and the yen since its launch in 1999. The report stresses the effects on the euro of a dramatic decline in the demand for base money which probably reflected a flight of black money from within the euro countries as well as of...

This chapter is an assessment of the economic situation of Europe, with some concentration on those countries which have adopted the euro in 2001 and 2002 drawing on a wide variety of sources including Ifo survey data. At 1.6% in 2001 and 1.3% in 2002, these GDP growth rates are both, lower than...

Authors of the Report on the European Economy 2002