History
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The Future of Europe
Apr 12, 2012
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What Matters: Fundamental Challenges and Self inflicted Wounds
Apr 12, 2012 | 03:30—05:10
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Conference paper
Debt Overhang and Capital Regulation
Apr 2012
We analyze shareholders’ incentives to change the leverage of a firm that has already borrowed substantially. As a result of debt overhang, shareholders have incentives to resist reductions in leverage that make the remaining debt safer.
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Conference paper
The Austerity Trap: A Century of Unrest and Budget Cuts
Apr 2012
Budget cuts can be dangerous. Inspired by the wrenching experience in Greece, increasing attention is now being paid to the fact that austerity may fail to reduce the government deficit if the economy declines in response, as is likely in a liquidity trap (Delong and Summers 2012).
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Is Mercantilism Doomed to Fail? China, Germany, and Japan and the Exhaustion of Debtor Countries
Apr 12, 2012 | 10:00—12:10
A country that produces goods of high quality at a competitive price is likely to be rewarded for its ingenuity with a trade surplus. Small countries often achieve great development success through export-led growth. At the same time, the entire economic system must be balanced.
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Conference paper
The Culprit of the Global Crisis – German Mercantilism!
Apr 2012
These are truly testing times. The world economic order – capitalism – is being called into question following the Lehman crisis. The world’s best form of societal organization – democracy – is being challenged by the economic success of autocratic countries such as China and Singapore.
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The Challenge of De-Leveraging and Debt Overhangs II : The Politics and Economics of Restructuring
Apr 12, 2012 | 06:15—08:05
When the very fabric of society is threatened by prolonged austerity or a financial sector collapse, a deliberate re-structuring of debt may be necessary to restore the hopes of renewed prosperity.
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The Challenge of De-leveraging and Overhangs of Debt I : Inflation and Austerity
Apr 12, 2012 | 03:45—05:55
After an era of vigorous expansion a downturn can reveal a large stock of debt relative to the economy’s capacity to service it.
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The Future of Europe
Apr 12, 2012 | 12:30—02:40
What has been learned now that the Euro zone’s fault lines have been revealed? Where are Europe and the Euro zone today?
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Reflections on the Politics of Deficit Reduction
Apr 12, 2012 - Apr 12, 2013 | 09:35—11:00
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The Future of Europe
Apr 12, 2012
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Manufacturing jobs will disappear - no matter where you are
Apr 12, 2012
Just as the agricultural share of employment has fallen from 40% in the 1920s to less than 2% of the workforce in Europe today, manufacturing’s share of employment will fall to less than 5% of employment.
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@INET Berlin: Doing the actual work
Apr 12, 2012
While yesterday presented a number of frontrunning scientists discussing current economics and state of the economy in general, academic terms, today starts with ECB executive board member Asmussen.
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@INET Berlin: The Great Divide
Apr 12, 2012
Behind all the technical language and the common theme of bashing bankers, there remains the Great Divide between Germans and the rest.
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Kids Behind the Wall
Apr 12, 2012
On my way back home from the Brandenburger Tor, I recalled that I already have been there, it must have been in 1988.