Springer Texts in Business and Economics (STBE) delivers high-quality instructional content
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The stabilization of budget deficit and budget debt ratios by fiscal retrenchment in order to
fulfill the Maastricht criteria for the EMU is of central focus in most EU countries. At the same …

… Karl Farmer University of Graz Economics Universitaetsstrasse 15/F4 A-8010 Graz … This
book emerged out of lectures of the first author within the master programs of the University of …

To Kill the King sketches post-traditional consciousness in terms of three rejuvenating concepts
- thinking as play, justice as seeking, and practice as art. In a series of critical essays on …

It is the aim of this purely theoretical paper to model corporations’ investment decision under
market value maximization and managers’ “beliefs” about sales of future production output …

This paper characterizes the existence and stability properties of steady state solutions as
well as the nature of transition paths of a two-sector growth model with heterogeneous capital. …

It is the aim of this paper to investigate the micro-foundations for inflexible aggregate investment
in Diamond-type overlapping generations (OLG) models of involuntary unemployment. …

Macroeconomic theory contains two competing explanations of business cycle fluctuations.
According to the intertemporal substitution mechanism (ITS), observed variations in …

The free-market economy and free international are currently under attack not only by the
political left and right in Western countries, but also by US Christian value-conservatives such …

… I am also indebted to Henryk Gurgul for mathematical assistance; Karl Steininger and
Ronald Wendner provided useful comments on an earlier version. Last but not least I am very …