Der Preis der Schwedischen Reichsbank für Wirtschaftswissenschaften im Gedenken an Alfred Nobel geht an Ben Bernanke, Douglas Diamond und Philip Dybvig. Nach Ansicht der Königlich Schwedischen Akademie der Wissenschaften haben die Preisträger "unser Verständnis der Rolle der Banken in der...

The study discusses the distribution of roles between monetary and fiscal policy in stabilising the price level. It questions the view that price level stabilisation should be the sole responsibility of central banks. It argues that there is a case for national governments also being responsible...

The ECB has embarked on an uncertain path with the digital euro project. It is pursuing a strategy that is unclear about whatproblems it is trying to solve and what specific goals it is trying to achieve. The ECB has not yet been able to diagnose a clear marketfailure that would justify such...

This paper shows that important insights for fiscal policy can be derived from Joseph Schumpeter's academic work. This concerns his fundamental distinction between theories in which the monetary sphere is identical with the real sphere ("real analysis"), and theories in which financial sphere is...