Recently, the quantity theory of money has been criticized for not being able to explain the developments of price level and the stabilization ending inflationary processes. Moreover, it has been asserted that the theory considering money just as another financial asset and using the assumptions...

Die deutsche Volkswirtschaft gibt Rätsel auf: Einerseits ist Deutschland Export-(Vize-)Weltmeister, andererseits leidet es unter einer anhaltenden Wachstums- und Beschäftigungsschwäche. Ist das Exportwachstum Ausdruck ungebrochener internationaler Wettbewerbsfähigkeit und die Wachstums- und...

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It is advantageous for a country like Switzerland to hold part of its central bank reserves in gold, even given a discretionary monetary regime with flexible exchange rates. This in spite of the fact, that the return on gold reserves is usually lower than that on foreign exchange reserves....