An analogy has been made between the collapse of the Bretton Woods system in 1971 and the recent Eurozone crisis. The build up of TARGET balances in the Eurosystem of Central Banks after 2007 with the GIPS (deficit countries having large liabilities) and Germany (a surplus country) with large...

We use a network model of credit risk to measure market expectations of the potential spillovers from a sovereign default. Specifically, we develop an empirical model, based on the recent theoretical literature on contagion in financial networks, and estimate it with data on sovereign credit...

In this contribution, we aim at describing the problem of debt and currency crisis by means of system dynamics modeling. We use the historical evidence from the Russian default in 1998 as an example. First, we apply the system dynamics approach to quantitatively assess the Russian economic...

Warum ist die Politik der Alternativlosigkeit so gefährlich? -- Was heißt „Krisenpolitik“ und weshalb wirken ihre Folgen desintegrativ? -- Was sind die Kosten der Niedrigzinspolitik? -- Wie hoch waren die Schuldenerleichterungen für Griechenland wirklich? -- Inwiefern gefährden...