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21 September 2017

Global Imbalances

The recent IMF’s External Sector Report highlighted the persistence of imbalances and a switch of imbalances towards advanced economies. We review rec

13 June 2017

Nord Stream 2 can wait

Gazprom is pushing ahead with plans to build a second gas pipeline under the Baltic sea, straight form Russia to Germany. Supporters claim that Ukrain

10 May 2017

Europa sinnvoll gestalten

Die Debatte um die Zukunft Europas sollte gerade in Deutschland konstruktiv geführt werden. Es profitiert von einer stabilen EU und trägt entscheidend

23 December 2014

Kohl’s Euro

The great challenge today is to undo the legacy of Kohl’s rhetoric. Breaking up the euro is too costly. Thus the task is to weaken the ties that bind

25 November 2014

A crazy idea about Italy

Italy needs growth in nominal GDP to stop its debt burden from rising any further. It also needs to reform its economy, raise its productivity an