Professoren
Prof. Dr. rer. pol. Dr. habil. Helmut Wagner

Prof. Dr. rer. pol. Dr. habil. Helmut Wagner

Direktor am Hagener Institut für Managementstudien (Makromanagement)Journal Articles

„Evolution aus makroökonomischer Perspektive“ [Evolution from a macroeconomic perspective],(Helmut Wagner) in: Ökonomie und Evolution. Studien zur Entwicklung der ökonomischen Theorie XXXVI, Schriften des Vereins für Socialpolitik, ed. by Peter Spahn, Duncker & Humblot: Berlin, July 2020, pp. 119-158.

"The Middle-Income Trap 2.0: The Increasing Role of Human Capital in the Age of Automation and Implications for Developing Asia", (co-author: Linda Glawe); forthcoming in: Asian Economic Papers, vol. 19, issue 3 (2020).

"Comments on Toward an Asian Monetary Fund: Ideas for Transition", in: Asian Economic Papers, vol. 19 (2020), issue 2, pp. 78-80.

"The role of institutional quality and human capital for economic growth across Chinese provinces - a dynamic panel data approach", (co-author: Linda Glawe); in: Journal of Chinese Economic and Business Studies, vol. 18 (04/2020): pp. 1-19.

"China in the middle-income trap?", (co-author: Linda Glawe); in: China Economic Review, vol. 60, April 2020.

"Network Topography and Default Contagion in China's Financial System", (co-author: Jens Fittje); in: SSRN Paper No. 3549926, January 2020.

"Structural Change, rebalancing, and the danger of a middle income trap in China", in: International Journal of China Studies, vol. 10, No. 1, June 2019, pp. 1-25

"China in the Middle-Income Trap?" (co-author: Linda Glawe) online first publication in: China Economic Review, Jan. 2019

"On the (non-) sustainability of China's development strategies", Chinese Economy 52 (2019), issue 1, pp. 1-23.

"The Deep Determinants of Economic Development in China - A Provincial Perspective", (co-author: Linda Glawe); in "Journal of the Asia Pacific Economy", vol. 24 (2019): pp. 484-514.

"A system-theoretical discussion of the (non-)sustainability of the development strategies", (Co-author Dr. Denis Stijepic), Jan 2019

"Positive trend inflation and the Phillips curve - A tale of two slopes and various impulse responses" (co-author: Dr. Katrin Heinrichs), North American Journal of Economics and Finance 47 (2019) pp. 283-307

"Institutional convergence in Europe" (co-author: Nina Schönfelder) Economics: The Open-Access, Open Assessment E-Journal, 13 (2019-3), pp 1-23.

"Impacts of intermediate trade on sector structure" (co-author: Denis Stijepic), in: The Journal of International Trade & Economic Development, vol. 16 (2018), issue 1, pp. 102-122

"Structural Change, rebalancing, and the danger of a middle income trap in China", BOFIT Policy Brief, 6, 2018, Bank of Finland: Institute for Economies on Transition.

"House-Prices and the Credit Market - Evidence from an International Panel of Industrialized Economies", SSRN Working Paper No. 3220328, July 2018 (co-author: Martin Kern).

"Positive Trend Inflation and the Phillips Curve. A Tale of Two Slopes and Various Impulse Responses" (co-author: Katrin Heinrichs), online-first publication in: North American Journal of Economics and Finance, May 2018, vol. 44.

"On Cross-System Interactions and the Sustainability of (Economic) Development", (co-author: Denis Stijepic), SSRN Paper No. 3082438, April 20, 2018

"On the (non-) sustainability of China's development strategies" [long Version], CEAMeS Discussion Paper No. 6.

"Avoiding the middle-income trap: Korean lessons for China?", (co-authors: Michael Murach, Jungsuk Kim and Donghyun Park), CEAMeS Discussion Paper No. 14, October 2018.

"The Deep Determinants of the Middle-Income Trap", SSRN Working Paper No. 3085293, December 2017 (co-author: Linda Glawe).

"The Deep Determinants at More Subtle Stages of Economic Development - The Example of the Middle-Income Trap", SSRN Working Paper No. 3085417, December 2017 (co-author: Linda Glawe).

"China Caught in the "Middle-Income Trap"?", (co-author: Linda Glawe), in: VoxChina, November 22, 2017

"The Building Up of New Imbalances in China: The Dilemma with 'Rebalancing", in: International Economics and Economic Policy, vol. 14 (2017), issue 4, pp. 701-722

"How severe will the growth slowdown in China caused by the structural change be? An evaluation based on experiences from Japan and South Korea" (co-author: Michael Murach), in: Journal of Chinese Economic and Business Studies, vol. 15 (3), July 2017, pp. 269-287.

"Impacts of intermediate trade on sector structure" (co-author: Denis Stijepic), in: The Journal of International Trade & Economic Development, online-first-publilcation, July 2017, vol. 15 (2), pp. 1-21.

"People's Republic of China in the Middle-Income Trap?” (co-author: Linda Glawe), in: Asian Development Bank Institute (ADBI)Working Paper Series No. 749, June 2017.

"Housing market boom-bust-cycles - evidence from a varying minimum cycle length" (co-autor: Martin Kern), in: Journal of Internatonal Business and Economics (JIBE), vol. 5, June 2017, pp. 23-48.

"Chinas Rebalancing-Dilemma", fc. in: One Belt and One Road - China and the World, Proceedings of the International Conference held in 2016 at Frankfurt University, Konfuzius-Institut Frankfurt (2017).

"Gefangen in der Mitte - ['Trapped in the middle-income range']" (co-author: Linda Glawe), in: Asia Bridge, April 2017.

"The Middle-Income Trap - Definitions, Theories and Countries Concerned: A Literature Survey" (co-author: Linda Glawe), in: Comparative Economic Studies, vol. 58, pp. 507-538 (2016)

"The impact of European integration on institutional development" (Co-author: N. Schönfelder), in: Journal of Economic Integration, vol. 31, Sept. 2016, pp. 472-530.

"China in the Middle Income Trap?" (co-author: Linda Glawe), SSRN Paper No. 2830439, August 2016

"Some Results on the Stability of the Aggregate Balanced Growth Path in Neoclassical Multi-sector Growth Models" (co-author: Denis Stijepic), published online November 2016, DOI 10.13140

"Positive Trend Inflation and the Phillips Curve - A Tale of Two Slopes" (co-author: Katrin Heinrichs), SSRN Paper No. 2888366, 2016.

"The effects of external shocks on the business cycle in China: A structural change perspective" (co-author: M. Murach), SSRN Paper No. 2741579, March 2016 

"Structural Change and Mid-Income Trap - Under which conditions can China succeed in moving towards higher income status", in: European Journal of Comparative Economics, vol. 12, no. 2, Dec. 2015, pp. 165 - 188.

"The impact of European integration on institutional development" (co-author: N. Schönfelder), MPRA Paper No. 63392, 2015. 

"Can We Expect Convergence Through Monetary Integration? (New) OCA Theory vs Empirical Evidence From European Integration", in: Comparative Economic Studies, vol. 56, no.2 (June) 2014, pp. 176-199.

"Challenges to China's Policy: Structural Change", in: Comparative Economic Studies, vol. 55, 2013, pp.721-736.

"Convergence and Divergence in the European Monetary Union", in: The Macrotheme Review, vol.2 (4), 2013

"A Structural Approach to Financial Stability: On the Benefical Role of Regulatory Governance", in: Journal of Governance and Regulation, vol.2, issue 1, 2013, (co-author: B. Mohr), pp.7-26.

„Is the European Monetary Union Sustainable? The Role of Convergence“, In: S. Kaji and E. Ogawa (eds.), Who will provide the Next Financial Model?: Asia‘s Muscle and Europe‘s Financial Maturity, Springer Japan 2013, pp. 183-218.

"Volatility Impact of Stock Index Futures Trading - A Revised Analysis" in: Journal of Applied Finance & Banking, Vol. 2 (5), 2012, pp. 113-126 (co-author: E. Matanovic) 

"Is harmonization of legal rules an appropriate target? Lessons from global financial crisis" in: European Journal of Law and Economics, Vol. 33 (3), 2012, pp. 541-564 

"Nutzen und Kosten einer Regelbindung" in: Wirtschaftsdienst, 92. Jahrgang, Heft 3, März 2012.

„Structural Change Patterns and Development: China in Comparison“ , Diskussionsbeitrag der Fakultät für Wirtschaftswissenschaft der FernUniversität in Hagen, Nr. 477, January 2012.

"Monetary Policy and Boom-Bust Cycles: The Role of Central Bank Communication" in: Ekonomia, Vol. 14 (1), 2011 (co-author: R. Knuetter)

"Ungleichgewichte und internationale Politikkoordinierung" in: Wirtschaftspolitische Blätter, 3/2011, (58 Jg.), pp. 487-99

"Optimal Monetary Policy during Boom-Bust Cycles: The Impact of Globalization" in: International Journal of Economics and Finance, Vol. 3 (2), May 2011 (co-author: R. Knuetter), pp.34-44.

“Implementation of technological breakthroughs at sector level and the technology-bias”, MPRA Paper No. 33352, September 2011 (co-author: D. Stijepic)

„A Structural Approach to Financial Stability: On the Beneficial Role of Regulatory Governance“ (mit B. Mohr), Diskussionsbeitrag der Fakultät für Wirtschaftswissenschaft der FernUniversität in Hagen, Nr. 467, Mai 2011.

"Regulatory Governance and the Framework for Safeguarding Financial Stability", in: Tavidze, A. (eds.), Progress in Economics Research, Vol. 23, New York, 2012 (co-author: B. Mohr), pp. 1-32.

"Optimal Monetary Policy during Boom-Bust Cycles: The Impact of Globalization" in: International Journal of Economics and Finance, Vol. 3 (2), 2011, pp. 34-44,(Co-author: R. Knütter)

"The Effects of Central Bank Communication on Financial Stability: A Systematization of the Empirical Evidence" Discussion Paper No. 463, Department of Economics University of Hagen, 2011 (Co-authors: R. Knütter, B. Mohr)

"Monetary Policy and Boom-Bust-Cycles: The Role of Communication" Discussion Paper No. 453, Department of Economics University of Hagen, 2011 (Co-author: R. Knütter)

"The causes of the recent financial crisis and the role of central banks in avoiding the next one", in International Economics and Economic Policy, vol. 7, No. 1, 2010, pp. 63-82

"A New Keynesian Model with Endogenous Frictions", Discussion Paper Series A No. 520, The Institute of Economic Research, Hitotsubashi University, July 2009

"Globalization and Asset Prices: Which Trade-Offs. Do Central Banks Face in Small Open Economies?", Discussion Paper No. 433, Department of Economics, University of Hagen, December 2008 (Co-author: R. Knütter)

"International Policy Coordination and Simple Monetary Policy Rules", Discussion Paper No. 434, Department of Economics, University of Hagen, October 2008 (Co-author: W. Berger).

"Dynamic Effects of Offshoring", Discussion Paper No. 427, Department of Economics, University of Hagen, May 2008 (Co-author: D. Stijepic)

"Monetary Policy and Asset Prices: More Bad News for 'Benign Neglect' ", in International Finance, Vol. 10 No. 1, 2007, pp. 1-20 (Co-Authors: W. Berger, F. Kißmer)

"Globalization, Financial Volatility, and Monetary Risk Management", Working Paper, Princeton University, February 2007

"Information and Uncertainty in the Theory of Monetary Policy", in: SUERF Studies, vol. 2007 (1), [ Societé Universitaire Européenne de Recherches Financières. The European Money and FInance Forum. Vienna], Vienna 2007

"Fiscal Issues in the New EU-Member Countries - Lessons for Asian Economic and Monetary Cooperation?", (in chinese translation) in: World Economic Papers, Issue 2, 2007

“International Lessons for the Property Price Boom in South Africa”, in: South African Journal of Economics, Vol. 74, Issue 2, 2006(Co-authors: N. Funke and F. Kißmer)

„International Policy Coordination and Simple Monetary Policy Rules“, IMF Working Paper WP/06/164, International Monetary Fund, Washington, D.C., 2006 (Co-author: W. Berger)

"Fiscal Issues in the New EU-Member Countries - Prospects and Challenges", in: SUERF Studies, vol. 2006 (1), Vienna 2006

" 'Human Capital': Determinante der Wirtschaftsentwicklung", in: Das Personalvermögen, Vol. 2/06, 2006

"Graphical Analysis of the New Neoclassical Synthesis", (September 17, 2006). Available at SSRN: http://ssrn.com/abstract=958382 (Co-author: G. Giese)

"Information Asymmetries, Uncertainty, and Central Bank Communication", Discussion Paper, Princeton University, September 2006

"Model Uncertainty and Robust Control in Monetary Theory", Working Paper, University of Hagen, August 2006

"Interdependent Expectations and the Spread of Currency Crises", in: IMF Staff Papers, vol. 52, no. 1, 2005, pp. 41-54 (Co-author: W. Berger)

"Reform in the New EU Member States - Will a 3-Pillar Pension System Work?", in: Eastern European Economics, vol. 43, 2005, pp. 27-51

"Das Redux-Modell - eine neukeynesianische Theorie offener Volkswirtschaften" ("The Redux Model: A New Keynesian Theory of Open Economies"), in: Wisu, vol. 8-9/05, 2005 (Co-author: D. Schulz)

"Globalization and Financial Instability", in: International Journal of Social Economics, vol. 32, no. 7, 2005, pp. 616-638

"Globalization, Financial Stability and Monetary Policy", in: Empirica, vol. 31, no. 2-3, 2004 (Co-Autor: W. Berger)

"Geld- und währungspolitische Herausforderungen durch Globalisierung und Finanzmarktinstabilität", in: Jahrbuch für Wirtschaftswissenschaften, vol. 54, Heft 3, 2003, pp. 1-31

"Financial Globalization and Monetary Policy", in: DNB Staff Reports no. 95, De Nederlandsche Bank, Amsterdam, 2003 (Co-author: W. Berger)

"Growth Effects of 'Heterogenous' Economic Integration : The Example of EMU-Enlargement", in Journal of Economic Integration, Volume 17, 2002, no. 4, pp. 623-649

"Implications of Globalization for Monetary Policy", in SUERF Studies no. 2002/17, previous version published as IMF Working Paper WP/01/184, International Monetary Fund, Washington D.C.

"The Road to the Euro - Exchange Rate Arrangements in Transition Economies", in: Annals of the American Academy of Political and Social Science, vol. 579, 2002, pp. 168-182 (Co-author: E. Hochreiter)

"Spreading Currency Crises: The Role of Economic Interdependence", IMF Working Paper WP/02/144, International Monetary Fund, Washington D.C., 2002 (Co-author: W. Berger)

"Pitfalls in the European Enlargement Process - Financial Instability and Real Divergence", Discussion Paper 06/02, Economic Research Centre of the Deutsche Bundesbank, 2002, Frankfurt/M.

"Braucht die EZB eine "neue" Geldpolitische Strategie?", in: List Forum für Wirtschafts- und Finanzpolitik, vol. 28 (1), 2002, pp. 1-35 (Co-author: F. Kißmer)

"Emerging-Market-Crises - Well-known Models and New Explanations", ("Emerging Market-Krisen: Bekannte Modelle und neue Ansätze") in: List Forum für Wirtschafts- und Finanzpolitik, vol.27(2), 2001, pp. 178-193 (Co-author: W. Berger)

"Which Exchange Rate Regimes in an Era of High Capital Mobility?", in: North American Journal of Economics and Finance, vol. 11, Issue 2, 2000, pp. 191-203

"Central Banking in Transition Countries", in: Eastern European Economics, vol. 38, no. 4, 2000, pp. 6-53

"Controlling Inflation in Transition Economies: On the relevance of central bank independence and the right nominal anchor", in: Atlantic Economic Journal, vol. 27, no. 1, 2000, pp. 60-70

"Central Bank Independence and the Lessons for Transition Economies from Developed and Developing Countries", in: Comparative Economic Studies, vol. 41, no. 4, 1999, pp. 1-22

"Inflation Targeting versus Monetary Targeting", in: Kredit und Kapital, vol. 32, Issue 4, 1999, pp. 610-632

"La banca central en los países en transición", in: CEMLA Boletín, vol. XLV, 1999, no. 2, pp. 49-75

"Inflation Targeting", in: Wirtschaftswissenschaftliches Studium (WiSt), vol. 27, 1998, pp. 295-303

"Central Banking in Transition Countries", IMF Working Paper WP/98/126, International Monetary Fund, Washington, D.C., 1998


Collective volume articles

"Regulatory Governance and the Framework for Safeguarding Financial Stability" forthcoming in: Tavidze, A. (ed.), Progress in Economic Research, Vol. 23, New York.

"Monetary Policy and Boom-Bust-Cycles in Asset Prices: A Literature Survey", in: Schulz, P.E. and Hoffmann, B.P. (eds.), Financial Asset Pricing: Theory, Global Policy and Dynamics. New York, 2010 (Co-Author: R. Knütter)

"Wirtschaftspolitische Entscheidungsfindung unter Modellunsicherheit", in: Bortfeldt, A. et al. (eds.), Intelligente Entscheidungunterstützung: Aktuelle Herausforderungen und Lösungsansätze, May 2008

"Endogenous Uncertainty and Monetary Policy", Discussion Paper No. 419, Department of Economics, University of Hagen, Sept. 2007 (Co-author: G. Giese)

"Herausforderungen der Globalisierung für die Entwicklungsländer: Unsicherheit und geldpolitisches Risikomanagement", Discussion Paper No. 410, Department of Economics, University of Hagen, 2007

"Beyond Balanced Growth: Some Further Results", Discussion Paper No. 409, Department of Economics, University of Hagen, 2007 (Co-author: D. Stijepic)

"Financial Instability and Monetary Risk Management Policy Options- Systemization and an Application", in: A.N. Kandall (ed.): International Business and Financial Issues. Nova Science Publishers, New York, 2007, S. 169-184

"Costs of Legal Uncertainty: Is Harmonization of Law a Good Solution?", In: United Nations Commission on International Trade Law (ed.), Modern Law for Global Governance. Congress to celebrate the 40th annual session of UNCITRAL (Vienna, 9-12 July 2007), Studies, proposals and background papers, Vienna, pp. 29-36.

"Information und Unsicherheit in der Geldtheorie", in: C. Clemens et al. (eds.),Auf allen Märkten zu Hause - Gedenkschrift für Franz Haslinger, Marburg, 2006, pp. 193-231

"Humankapital - Unwort des Jahres 2004. Eine Randnotiz", in: Mroß and Thielmann-Holzmayer
(eds.), Zeitgemäßes Personalmanagement, Deutscher Universitätsverlag, 2005

"Economic Analysis of Cross-Border Legal Uncertainty: the Example of the European Union", in: J. Smits (ed.), The Need for a European Contract Law. Empirical and Legal Perspectives, Groningen: Europa Law Publishing, 2005, pp. 25-51

"Euro Adoption in the Accession Countries. Vulnerabilities and Strategies": Comment on Schadler (ed.), Euro Adoption in the new EU member countries, International Monetary Fund, Washington D.C., 2005

"Central Bank Independence and Macroeconomic Performance: A Survey of the Evidence", in: N. Healey and P. Levine (eds.), Central Banking in Eastern Europe, London: Routledge 2004 (Co-author: F. Kißmer)

"Die Zwei-Säulen-Strategie nach der Evaluation durch die EZB", in: M.B. Hofer, H.-K. Kotz and D.B. Simmert (eds.), Geld- und Wirtschaftspolitik in gesellschaftlicher Verantwortung, Duncker & Humblot Verlag: Berlin, 2004 (Co-Author: F. Kissmer)

"Wachstumsdifferentiale Deutschland - USA: Befund, Analyse und Aspekte der New Economy. - Kommentar zu Gries, T., S. Jungblut und A. Birk", in: T. Gries et. al. (eds.), Neue Wachstums- und Innovationspolitik in Deutschland und Europa, Heidelberg/New York: Physica, 2003

"Monetary Integration and Real Convergence", in: R. Caesar und H.-E. Scharrer (eds.), The European Economic and Monetary Union: Regional and Global Challenges, Baden-Baden: Nomos, 2001, pp. 79-95

"Preconditions for the Success of the European Monetary Union", in: M. Haller (ed.), The Making of the European Union. Contributions of the Social Sciences, Springer Verlag Berlin, Heidelberg, 2001, pp. 43-65

"Effects of Globalization on National Monetary Policy", in: A. Karmann (ed.), Financial Structure and Stability", Heidelberg/New York: Physica, 2001, pp. 34-52

"Globalization and Inflation", in: H. Wagner (ed.), Globalization and Unemployment, Berlin: Springer, 2000, pp. 343-388

"Central Banking in Transition Economies: lessons to be learned", in: Eesti Pank (Bank of Estonia) (ed.), The Role of a Central Bank in Economic Policy Management, Tallinn, 1999

"Economics of Labour Co-Determination in View of Corporate Governance", in: K.J. Hopt et.al. (eds.), Comparative Corporate Governance -The State of the Art and Emerging Research, Oxford: Clarendon (Oxford University) Press 1998, pp. 341-360

"Monetäre Integration und reale Konvergenz", in: R. Caesar und H.-E. Scharrer (eds.), Die europäische Währungsunion: Regionale und globale Herausforderungen, Bonn: Europa Union Verlag, 1998, pp. 69-84


Books

"Stabilitätspolitik. Theoretische Grundlagen und institutionelle Alternativen" , Munich and Vienna: Oldenbourg Verlag, 1989, 9th ed., 2011

"Einführung in die Weltwirtschaftspolitik. Internationale Wirtschaftsbeziehungen - Internationale Organisation - Internationale Politikkoordinierung" , Munich and Vienna: Oldenbourg Verlag, 1991, 6th ed., 2009

"Information and Uncertainty in the Theory of Monetary Policy", SUERF Studies, 2007/1, Vienna 2007

"Fiscal Issues in the New EU-Member Countries - Prospects and Challenges, SUERF Studies 2006/1, Vienna, 2006

"Übungsbuch Makroökonomie", München: Vahlen-Verlag, 2005

"Makroökonomie", München: Vahlen-Verlag, 2003

"Globalization and Unemployment", Berlin: Springer-Verlag, 2000

"Europäische Wirtschaftspolitik. Perspektiven einer Europäischen Wirtschafts- und Währungsunion(EWWU)", Berlin, Springer-Verlag, 2nd edition 1998

"Current Issues in Monetary Economics", (ed.), Heidelberg / New York : Physica - Verlag, 1998

"Perspectives on European Monetary Union" , Research Report no. 7, American Institute for Contemporary German Studies, Johns Hopkins University, Washington, D.C., 1998


Other selected Publications

"Vertrauensbildung durch Dialog - Im Fokus: Weltwirtschaftsgipfel", in: economag (Wissenschaftsmagazin für Betriebs- und Volkswirtschaftslehre), Nr. 9/2009

"Die Waage und das Gleichgewicht: Stabilitätspolitik: Gestern und Heute", in: economag (Wissenschaftsmagazin für Betriebs- und Volkswirtschaftslehre), Nr. 3/2007, S. 1-6

"Wettbewerb durch Vielfalt", Guest Commentary in Handelsblatt on 10.08.2004]

"Makro Interaktiv", Exercise course (CD-Rom) to "Makroökonomie" (Co-author: W. Laaser)

“Pitfalls in EMU-Enlargement”, AICGS Advisor, American Institute for Contemporary German Studies, Washington, D.C., 2003

"Japan als Warnung", Guest Commentary in Handelsblatt on 27.2.2003

"Braucht die EZB eine 'neue' geldpolitische Strategie", in: List Forum für Wirtschafts- und Finanzpolitik, vol. 28 (1) 2002, pp.1-35 (Co-Author: Friedrich Kissmer) [A longer version came out as Discussion paper no. 315, University of Hagen, 2002]

"Sie rufen wieder!", Guest Commentary in Handelsblatt on 25.7.2002

"Mehr Transparenz, bitte!", Guest Commentary in Handelsblatt on 22.5.2002

"Die Sogkraft des neuen Geldes in Europa ist groß", Guest Commentary in Handelsblatt on 8.1.2002

"Fallstricke der E(WW)U-Erweiterung" ("The Trap of E(EM)U Expansion"), in: Finanzplatz, Issue 3/2001, Frankfurt/M., 2001

"Die Geschichte des Geldes", Book manuscript for a multi-media CD-ROM-production of Springer-Verlag (Von der Kakaobohne zum Euro), 2001

"New Economy and Economic Policy", started at Harvard University and NBER, Cambridge/Mass., Oct-Nov 2000

"Gloomy Perspectives for Germany: Why Does Germany Have Problems Following the American Example of a "New Economy"", on-line publication of AICGS: Johns Hopkins University, October 2000

"Ursachen und Erklärungen der Asienkrise", Discussion paper no. 286, University of Hagen, 2000 (Co-author: W. Berger)

"Is Inflation Targeting an Appropriate Nominal Anchor for Transition Countries?", Discussion paper no. 305, University of Hagen, 1999

"On the Effect of an Increase in Multiplier Uncertainty on Inflation", Discussion paper no. 285, University of Hagen, 1999

"Monetary Policy in Trasition Economics: On Central Bank Independence and nominal Anchors", Discussion paper no. 270, University of Hagen, 1999

"Inflation Targeting Versus Monetary Targeting", Discussion paper no. 258, University of Hagen, 1998

"Central Bank Independence and Macroeconomic Performance: A Survey of the Evidence", Discussion paper no. 255, University of Hagen, 1998 (Co-author: F. Kißmer)

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