Common European monetary policy with different financial structures

If Economic and Monetary Union comes about, it will comprise countries with different financial systems and financing practices. This implies differences as regards the transmission of impulses both within the financial sector and from the monetary sphere to the real economy. Professor Renate Ohr and Torsten Gruber take the example of the United Kingdom to illustrate the significance these differences could have for the monetary policy of the European Central Bank.     

Eurokrise: Keine Staatsschuldenkrise,sondern Folge der Finanzkrise

Bei der Diskussion um die Staatsschuldenkrise wird h?ufi g vergessen, dass die Finanzkrise die eigentliche Ursache für den Anstieg der Staatsverschuldung in den einzelnen Staaten war. Eine unsolide Haushaltspolitik l?sst sich bei den fi nanzschwachen L?ndern — mit Ausnahme von Griechenland — nicht nachweisen. Daher sollte von dem zu einseitigen Blick auf die Fiskalkriterien abgerückt und den Fehlentwicklungen, die zur Finanzkrise geführt haben, wieder mehr Aufmerksamkeit geschenkt werden.     

Rezensionen

Ohne Zusammenfassung     

Does Institutional Theory Need Redirecting?

Greenwood, Hinings and Whetten (2014) present two major criticisms of current institutional scholarship, and see need for a broad redirection: institutional organization theory, they argue, has lost sight of the claim to study organizations and, with its overwhelming focus on isomorphism and similarity, has fallen short on adequately theorizing differences across organizations. In our article, we offer support as well as a riposte. First, while we agree that the organizing of collective efforts needs to be at the core of organization research, we warn that focusing on formal organization – a rationalized cultural product itself – may direct attention away from studying alternative modes of organizing, and underestimates the dynamic developments that have transformed contemporary organizations into increasingly complex objects of inquiry. Second, we are concerned that, by abandoning the analysis of similarities in favour of differences, institutional theory may eventually lose sight of its pivotal quest: to study institutions.     

Process tracing,abstraction, and varieties of cognitive interest

ABSTRACT

This comment responds specifically to some points made by Trampusch and Palier in this volume, particularly the distinction between inductive and deductive approaches, and the inquiry into the ‘added value’ of process tracing.     

Bootstrapping for standard errors of instrumental variable estimates

Theil and Finke (1983) used the distance from the equator as an instrumental variable (IV) in the estimation of a cross-country demand system. Here we obtain standard errors of the IV estimates using Efron's (1979) bootstrap technique.     

Expansion of the public sector,the current account and the exchange rate

Attributing the foreign trade effects of an expansion in the state budget to a single cause cannot do justice to the multitude of macro-economic interrelationships. Both theory and observation can reveal quite differing links between the public sector financial balance, the balance of payments and the exchange rate. The financing and nature of additional budgetary expenditure and the pattern of private investors’ expectations therefore have to be taken into consideration to obtain a clear picture of the possible consequences of budgetary expansion.     

Palliativpflege auf der Intensivstation – ein Widerspruch?

Zusammenfasung  Umgang mit Sterben und Tod — Renate Fricke arbeitet als stellvertretende Stationsleitung der Herzchirurgischen Intensivstation im Klinikum der Stadt Ludwigshafen gGmbH. Immer h?ufiger stellte sich ihr die Frage, ob Intensiv- und Palliativpflege wirklich so gegens?tzlich sind oder ob sich nicht viele Gemeinsamkeiten finden lassen.