@article{Jost2015, author = {Jost, Thomas}, title = {FDI in Russia in difficult times}, series = {Columbia FDI Perspectives}, volume = {2015}, journal = {Columbia FDI Perspectives}, number = {150}, editor = {Columbia Centre for Sustainable Investment,}, pages = {1 -- 7}, year = {2015}, subject = {Direktinvestition}, language = {en} } @article{JostSauvant2016, author = {Jost, Thomas and Sauvant, Karl P.}, title = {Fortschritte bei globalem Investitionsabkommen}, series = {B{\"o}rsenzeitung}, journal = {B{\"o}rsenzeitung}, number = {Ausgabe 174, 9. September 2016}, pages = {6}, year = {2016}, subject = {Investition}, language = {de} } @article{JostSeitz2015, author = {Jost, Thomas and Seitz, Franz}, title = {Zehn Argumente gegen Quantitative Easing und den Ankauf von Staatsanleihen durch das Eurosystem}, series = {ifo-Schnelldienst}, volume = {2015}, journal = {ifo-Schnelldienst}, number = {4}, editor = {ifo-Institut,}, pages = {19 -- 20}, year = {2015}, subject = {Geldpolitik}, language = {de} } @article{JostSeitz2015, author = {Jost, Thomas and Seitz, Franz}, title = {EZB muss nationale Geldpolitik in Athen stoppen}, series = {B{\"o}rsenzeitung}, journal = {B{\"o}rsenzeitung}, number = {Ausgabe 28, 11. Februar 2015}, pages = {7 -- 7}, year = {2015}, subject = {Geldpolitik}, language = {de} } @article{JostSeitz2015, author = {Jost, Thomas and Seitz, Franz}, title = {Die Selbst{\"u}bersch{\"a}tzung der EZB}, series = {Euro am Sonntag}, volume = {2015}, journal = {Euro am Sonntag}, number = {6}, pages = {61 -- 61}, year = {2015}, subject = {Geldpolitik}, language = {de} } @article{JostSeitz2015, author = {Jost, Thomas and Seitz, Franz}, title = {Ist Sparen {\"o}konomisch noch zeitgem{\"a}ß?}, series = {B{\"o}rsenzeitung}, journal = {B{\"o}rsenzeitung}, number = {Ausgabe 204/2015}, pages = {7 -- 7}, year = {2015}, subject = {Sparen}, language = {de} } @article{JostSeitz2016, author = {Jost, Thomas and Seitz, Franz}, title = {D{\"u}stere Aussichten f{\"u}r deutsche Sparer}, series = {AnlegerPlus}, volume = {2016}, journal = {AnlegerPlus}, number = {3}, pages = {70 -- 70}, year = {2016}, subject = {Sparen}, language = {de} } @article{JostHirdina2015, author = {Jost, Thomas and Hirdina, Ralph}, title = {Eurozone in der Krise: Utopie und nackte Wirklichkeit}, series = {Euro am Sonntag}, journal = {Euro am Sonntag}, number = {19. Dezember 2015}, year = {2015}, language = {de} } @article{JostHirdina2010, author = {Jost, Thomas and Hirdina, Ralph}, title = {German outward FDI and its policy context}, series = {Columbia FDI Profiles}, volume = {2010}, journal = {Columbia FDI Profiles}, number = {April}, editor = {Vale Columbia Center on Sustainable International Investment,}, pages = {1 -- 14}, year = {2010}, subject = {Direktinvestition}, language = {en} } @article{JostHirdina2010, author = {Jost, Thomas and Hirdina, Ralph}, title = {German investment in the Baltic states}, series = {Baltic Rim Economies}, volume = {2010}, journal = {Baltic Rim Economies}, number = {4}, pages = {35 -- 35}, year = {2010}, subject = {Direktinvestition}, language = {en} } @inproceedings{JostSeitz2013, author = {Jost, Thomas and Seitz, Franz}, title = {Zur Rolle des IWF in der europ{\"a}ischen Schuldenkrise}, series = {Internationale Organisationen: ordnungspolitische Grundlagen, Perspektiven und Anwendungsbereiche}, volume = {2013}, booktitle = {Internationale Organisationen: ordnungspolitische Grundlagen, Perspektiven und Anwendungsbereiche}, number = {97}, editor = {Wentzel, Dirk}, publisher = {Lucius\&Lucius}, address = {Stuttgart}, isbn = {9783110508741}, doi = {10.1515/9783110508741-006}, pages = {103 -- 129}, year = {2013}, subject = {Eurozone}, language = {de} } @article{Jost2012, author = {Jost, Thomas}, title = {Inward FDI in Germany and its Policy Context, 2012}, series = {Columbia FDI Profiles}, volume = {2013}, journal = {Columbia FDI Profiles}, number = {April 6, 2013}, pages = {1 -- 12}, year = {2012}, subject = {Direktinvestition}, language = {en} } @techreport{Jost2014, type = {Working Paper}, author = {Jost, Thomas}, title = {Let's blame Germany for its current account surplus!?}, series = {Weidener Diskussionsbeitr{\"a}ge, Diskussionspapier Nr. 39, Mai 2014}, journal = {Weidener Diskussionsbeitr{\"a}ge, Diskussionspapier Nr. 39, Mai 2014}, pages = {20}, year = {2014}, subject = {Leistungsbilanz}, language = {en} } @inproceedings{Jost2012, author = {Jost, Thomas}, title = {Sovereign Wealth Funds and the German Policy Reaction}, series = {Sovereign Investment: Concerns and Policy Reactions}, booktitle = {Sovereign Investment: Concerns and Policy Reactions}, editor = {Sauvant, Karl P. and Sachs, Lisa and Schmit Jongbloed, Wouter P.F.}, publisher = {Oxford University Press}, address = {New York}, isbn = {978-0-19-993792-9}, doi = {10.1093/acprof:osobl/9780199937929.001.0001}, pages = {453 -- 462}, year = {2012}, subject = {Ausl{\"a}ndische Direktinvestition}, language = {en} } @article{Jost2012, author = {Jost, Thomas}, title = {Much ado about nothing? State controlled entitities and the change in German investment law}, series = {Columbia FDI Perspectives}, volume = {2012}, journal = {Columbia FDI Perspectives}, number = {71}, pages = {1 -- 3}, year = {2012}, subject = {Direktinvestition}, language = {en} } @inproceedings{Jost2011, author = {Jost, Thomas}, title = {Internationale Kapitalstr{\"o}me vor dem Hintergrund der Finanzkrise, Kommentar}, series = {Die aktuelle Finanzkrise: Bestandsaufnahme und Lehren f{\"u}r die Zukunft}, volume = {2011}, booktitle = {Die aktuelle Finanzkrise: Bestandsaufnahme und Lehren f{\"u}r die Zukunft}, number = {93}, editor = {Michler, Albrecht F. and Smeets, Heinz-Dieter}, publisher = {Lucius\&Lucius}, address = {Stuttgart}, pages = {353 -- 355}, year = {2011}, subject = {Finanzkrise}, language = {de} } @article{Jost2011, author = {Jost, Thomas}, title = {Inward FDI in Germany and its policy context, update 2011}, series = {Columbia FDI Profiles}, volume = {2011}, journal = {Columbia FDI Profiles}, number = {December/2011}, pages = {1 -- 13}, year = {2011}, subject = {Direktinvestition}, language = {en} } @article{Jost2011, author = {Jost, Thomas}, title = {German outward FDI and its policy context, update 2011}, series = {Columbia FDI Profiles}, volume = {2011}, journal = {Columbia FDI Profiles}, number = {September}, pages = {1 -- 14}, year = {2011}, subject = {Direktinvestition}, language = {en} } @techreport{JostSeitz2012, type = {Working Paper}, author = {Jost, Thomas and Seitz, Franz}, title = {The Role of the IMF in the European debt crisis}, series = {Weidener Diskussionspapiere}, journal = {Weidener Diskussionspapiere}, number = {32}, pages = {28}, year = {2012}, subject = {W{\"a}hrungskrise}, language = {en} } @article{Jost2012, author = {Jost, Thomas}, title = {German outward FDI and its policy context, update 2012}, series = {Columbia FDI Profiles}, volume = {2012}, journal = {Columbia FDI Profiles}, number = {November}, pages = {1 -- 12}, year = {2012}, subject = {Direktinvestition}, language = {en} } @article{Jost2014, author = {Jost, Thomas}, title = {Kein Spielfeld f{\"u}r Interventionismus}, series = {B{\"o}rsenzeitung}, journal = {B{\"o}rsenzeitung}, number = {Nr. 56, 21. M{\"a}rz 2014}, pages = {1}, year = {2014}, subject = {Leistungsbilanz}, language = {de} } @book{SauvantJostPovedaGarcesetal.2011, author = {Sauvant, Karl P. and Jost, Thomas and Poveda Garc{\´e}s, Ana-Mar{\´i}a and Davies, Ken}, title = {Inward and outward FDI country profiles}, address = {New York}, pages = {433}, year = {2011}, subject = {Direktinvestition}, language = {en} } @article{JostRottmann2006, author = {Jost, Thomas and Rottmann, Horst}, title = {W{\"a}re ein Ausstieg Deutschlands aus der Europ{\"a}ischen W{\"a}hrungsunion sinnvoll?}, series = {Wirtschaftswissenschaftliches Studium (WiSt)}, volume = {2006}, journal = {Wirtschaftswissenschaftliches Studium (WiSt)}, number = {6}, publisher = {Beck-Verlag}, doi = {10.15358/0340-1650-2006-6-335}, pages = {335 -- 338}, year = {2006}, subject = {W{\"a}hrungsunion}, language = {de} } @article{Jost2010, author = {Jost, Thomas}, title = {Inward FDI in Germany and its policy context}, series = {Columbia FDI Profiles}, volume = {2010}, journal = {Columbia FDI Profiles}, number = {July}, pages = {1 -- 13}, year = {2010}, subject = {Direktinvestition}, language = {en} } @techreport{Jost2009, type = {Working Paper}, author = {Jost, Thomas}, title = {Sovereign Wealth Funds - Size, Economic Effects and Policy Reactions}, series = {Weidener Diskussionspapiere}, journal = {Weidener Diskussionspapiere}, pages = {22}, year = {2009}, subject = {Direktinvestition}, language = {en} } @article{JostRottmann2004, author = {Jost, Thomas and Rottmann, Horst}, title = {Umfang und Motive deutscher Direktinvestitionen in den Industriel{\"a}ndern}, series = {LIST-Forum f{\"u}r Wirtschafts- und Finanzpolitik}, volume = {30}, journal = {LIST-Forum f{\"u}r Wirtschafts- und Finanzpolitik}, number = {2}, pages = {153 -- 166}, year = {2004}, subject = {Direktinvestition}, language = {de} } @misc{Jost2009, author = {Jost, Thomas}, title = {Die Logik bilateraler Investitionsabkommen}, series = {Frankfurter Allgemeine Zeitung}, volume = {2009}, journal = {Frankfurter Allgemeine Zeitung}, number = {266}, pages = {12 -- 12}, year = {2009}, subject = {Direktinvestition}, language = {de} } @article{Jost2008, author = {Jost, Thomas}, title = {Sovereign Wealth Funds}, series = {Das Wirtschaftsstudium (WISU)}, volume = {2008}, journal = {Das Wirtschaftsstudium (WISU)}, number = {August/September}, pages = {1129 -- 1129}, year = {2008}, subject = {Direktinvestition}, language = {de} } @article{Jost2009, author = {Jost, Thomas}, title = {Staatsfonds}, series = {Das Wirtschaftsstudium (WISU)}, volume = {2009}, journal = {Das Wirtschaftsstudium (WISU)}, number = {Mai}, pages = {668 -- 671}, year = {2009}, subject = {Staatsfonds}, language = {de} } @techreport{JostNunnenkamp2002, type = {Working Paper}, author = {Jost, Thomas and Nunnenkamp, Peter}, title = {Bestimmungsgr{\"u}nde deutscher Direktinvestitionen in Entwicklungs- und Reforml{\"a}ndern - Hat sich wirklich etwas ver{\"a}ndert?}, series = {Kieler Arbeitspapier}, volume = {2002}, journal = {Kieler Arbeitspapier}, number = {1124}, pages = {77}, year = {2002}, subject = {Direktinvestition}, language = {de} } @incollection{JostRottmann2004, author = {Jost, Thomas and Rottmann, Horst}, title = {Direktinvestitionen - warum und in welchem Umgang deutsche Unternehmen in den EU-Beitrittsl{\"a}ndern investieren}, series = {So kommen Sie in die Beitrittsl{\"a}nder, Der Wegweiser f{\"u}r den Mittelstand}, booktitle = {So kommen Sie in die Beitrittsl{\"a}nder, Der Wegweiser f{\"u}r den Mittelstand}, publisher = {Prime-Verlag}, address = {M{\"u}nchen}, isbn = {978-3937385013}, pages = {150 -- 163}, year = {2004}, subject = {Direktinvestition}, language = {de} } @article{JostNunnenkamp2003, author = {Jost, Thomas and Nunnenkamp, Peter}, title = {Deutsche Direktinvestitionen in Entwicklungs- und Reforml{\"a}ndern: Haben sich die Motive gewandelt?}, series = {Die Weltwirtschaft}, volume = {2003}, journal = {Die Weltwirtschaft}, number = {Heft 1}, editor = {Institut f{\"u}r Weltwirtschaft,}, pages = {107 -- 130}, year = {2003}, subject = {Direktinvestition}, language = {de} } @incollection{Jost2003, author = {Jost, Thomas}, title = {Auswirkungen von Direktinvestitionen in Entwicklungsl{\"a}ndern}, series = {Theoretische und wirtschaftspolitische Aspekte der internationalen Integration}, booktitle = {Theoretische und wirtschaftspolitische Aspekte der internationalen Integration}, publisher = {Duncker \& Humblot}, address = {Berlin}, isbn = {3-428-11078-1}, pages = {255 -- 273}, year = {2003}, subject = {Direktinvestition}, language = {de} } @article{Jost2001, author = {Jost, Thomas}, title = {Direktinvestitionen - warum und in welchem Umgang deutsche Unternehmen in den EU-Beitrittsl{\"a}ndern investieren}, series = {Das Wirtschaftsstudium (WISU)}, volume = {2001}, journal = {Das Wirtschaftsstudium (WISU)}, number = {Juli}, pages = {963 -- 964}, year = {2001}, subject = {Direktinvestition}, language = {de} } @article{Jost2001, author = {Jost, Thomas}, title = {Konzepte zur Bereinigung des Inlands- oder Sozialprodukts um Terms of Trade-Effekte}, series = {Das Wirtschaftsstudium (WISU)}, volume = {2001}, journal = {Das Wirtschaftsstudium (WISU)}, number = {April}, pages = {482 -- 488}, year = {2001}, subject = {Bruttoinlandsprodukt}, language = {de} } @article{Jost2001, author = {Jost, Thomas}, title = {Tobin-Steuer - Unwirksam und {\"o}konomisch sch{\"a}dlich}, series = {Das Wirtschaftsstudium (WISU)}, volume = {2001}, journal = {Das Wirtschaftsstudium (WISU)}, number = {Dezember}, pages = {1629 -- 1631}, year = {2001}, subject = {Tobin-Steuer}, language = {de} } @article{Jost2001, author = {Jost, Thomas}, title = {Erkl{\"a}rung der regionalen Struktur der deutschen Exporte}, series = {Review of Economics}, volume = {2001}, journal = {Review of Economics}, number = {Band 52}, pages = {95 -- 109}, year = {2001}, subject = {Außenhandel}, language = {de} } @incollection{Jost2018, author = {Jost, Thomas}, title = {Geldpolitik, Preisniveaustabilit{\"a}t und Finanzstabilit{\"a}t, Koreferat zu Albrecht Michler und Franz Seitz}, series = {Wirtschaftspolitik im Wandel}, booktitle = {Wirtschaftspolitik im Wandel}, publisher = {De Gruyter}, address = {Oldenbourg}, isbn = {978-3-11-055486-1}, pages = {205 -- 209}, year = {2018}, subject = {Geldpolitik}, language = {de} } @book{Jost1989, author = {Jost, Thomas}, title = {Zur internationalen Transmission makropolitischer Aktivit{\"a}ten bei flexiblen Wechselkurse}, publisher = {Peter Lang Verlag}, address = {Frankfurt am Main}, pages = {164}, year = {1989}, subject = {Flexibler Wechselkurs}, language = {de} } @article{JostReitz2017, author = {Jost, Thomas and Reitz, Stefan}, title = {25 Jahre Maastrichter Vertr{\"a}ge - reale Divergenzen und institutionelle Reformen}, series = {Wirtschaftsdienst - Zeitschrift f{\"u}r Wirtschaftspolitik}, volume = {97}, journal = {Wirtschaftsdienst - Zeitschrift f{\"u}r Wirtschaftspolitik}, number = {2}, publisher = {Springer}, pages = {124 -- 129}, year = {2017}, subject = {Maastrichter Vertrag}, language = {de} } @inproceedings{Jost1999, author = {Jost, Thomas}, title = {Zur Aussagekraft der Direktinvestitionsstatistiken der Deutschen Bundesbank}, series = {Theorie und Empirie der Direktinvestitionen}, volume = {1999}, booktitle = {Theorie und Empirie der Direktinvestitionen}, number = {N.F. 65}, publisher = {Schriftenreihe des Rheinisch-Westf{\"a}lischen Instituts f{\"u}r Wirtschaftsforschung}, address = {Essen}, isbn = {9783428100156}, pages = {129 -- 148}, year = {1999}, subject = {Direktinvestition}, language = {de} } @article{Jost2001, author = {Jost, Thomas}, title = {Wettbewerbsvorteile deutscher Unternehmen in Mittel- und Osteuropa}, series = {Das wirtschaftswissenschaftliche Studium (WiSt)}, volume = {2001}, journal = {Das wirtschaftswissenschaftliche Studium (WiSt)}, number = {Januar}, doi = {10.15358/0340-1650-2001-1-23}, pages = {23 -- 29}, year = {2001}, subject = {Außenhandel}, language = {de} } @article{Jost2017, author = {Jost, Thomas}, title = {Fehlentwicklungen: Hausaufgaben f{\"u}r die Schuldnerl{\"a}nder}, series = {Euro am Sonntag}, journal = {Euro am Sonntag}, pages = {2}, year = {2017}, subject = {Eurozone}, language = {de} } @techreport{Jost1997, type = {Working Paper}, author = {Jost, Thomas}, title = {Direct Investment and Germany as a Business Location}, series = {Deutsche Bundesbank, Discussion Paper}, journal = {Deutsche Bundesbank, Discussion Paper}, number = {2/97}, year = {1997}, subject = {Direktinvestition}, language = {en} } @article{Jost2018, author = {Jost, Thomas}, title = {Bei der Euro-Reform werden die Weichen falsch gestellt}, series = {B{\"o}rsenzeitung}, volume = {2018}, journal = {B{\"o}rsenzeitung}, number = {Nr. 229}, pages = {6 -- 6}, year = {2018}, subject = {Internationaler W{\"a}hrungsfonds}, language = {de} } @misc{JostToedter2019, author = {Jost, Thomas and Toedter, Karl-Heinz}, title = {Kritisches und Konstruktives zur Defizitregel in der EWU}, series = {ETH Z{\"u}rich News {\"O}konomenstimme}, journal = {ETH Z{\"u}rich News {\"O}konomenstimme}, number = {01. April 2019}, year = {2019}, subject = {Europ{\"a}ische W{\"a}hrungsunion}, language = {de} } @article{JostToedter2020, author = {Jost, Thomas and Toedter, Karl-Heinz}, title = {Eine neue Fiskalregel f{\"u}r die Eurozone: einfach, transparent, kontrollierbar}, series = {List-Forum f{\"u}r Wirtschafts- und Finanzpolitik}, volume = {45}, journal = {List-Forum f{\"u}r Wirtschafts- und Finanzpolitik}, number = {4}, doi = {10.1007/s41025-019-00183-y}, pages = {381 -- 395}, year = {2020}, subject = {Geldpolitik}, language = {de} } @techreport{Jost2023, type = {Working Paper}, author = {Jost, Thomas}, title = {Zentralbankverluste und "ungerechte?" Bankengewinne infolge der Wertpapieraufkaufprogramme und der Verzinsung der {\"U}berschussreserven}, series = {Weidener Diskussionspapiere}, journal = {Weidener Diskussionspapiere}, pages = {44}, year = {2023}, abstract = {Das Eurosystem und auch die Deutsche Bundesbank werden 2023 Verluste erzielen, die einige Jahre anhalten d{\"u}rften. Aufgrund der massiven K{\"a}ufe von Wertpapieren in den letzten 10 Jahren, vor allem Staatsanleihen, sind die {\"U}berschussreserven der Banken stark angestiegen. Die dadurch bedingten hohen Zinszahlungen an die Banken seit der geldpolitischen Kehrtwende, bei geringen Einnahmen f{\"u}r die hohen Wertpapierbest{\"a}nde, f{\"u}hrten zu massiver Kritik. Die Banken w{\"u}rden dadurch „ungerechte" Gewinne erzielen, w{\"a}hrend die Fiskalbeh{\"o}rden auf die fr{\"u}her {\"u}blichen {\"U}berweisungen der Zentralbankgewinne verzichten m{\"u}ssen. Populistische Forderungen nach einer Begrenzung der Bankengewinne durch z.B. eine pauschale, drastische Erh{\"o}hung der Mindestreserves{\"a}tze im Eurosystem zur Reduzierung der {\"U}berschussreserven bergen neue Probleme und sind nicht hilfreich. Letztlich haben die Staaten sehr lange von historisch niedrigen Zinsen infolge der expansiven Geldpolitik des Eurosystems profitiert und m{\"u}ssen nun die Folgen der massiven Aufbl{\"a}hung der Zentralbankbilanzen w{\"a}hrend des Zeitraums der Normalisierung der Geldpolitik tragen.}, subject = {Europ{\"a}ische Zentralbank}, language = {de} } @techreport{JostSeitz2021, type = {Working Paper}, author = {Jost, Thomas and Seitz, Franz}, title = {Designing a European Monetary Fund: What role for the IMF?}, series = {Institute for Monetary and Financial Stability, Working Paper Series No. 151 (2021)}, journal = {Institute for Monetary and Financial Stability, Working Paper Series No. 151 (2021)}, pages = {26}, year = {2021}, abstract = {The so-called Troika, consisting of the EU-Commission, the European Central Bank (ECB) and the International Monetary Fund (IMF), was supposed to support the member states of the euro area which had been hit hard by a sovereign debt crisis. For that purpose, economic adjustment programs were drafted and monitored in order to prevent the break-up of the euro area and sovereign defaults. The cooperation of these institutions, which was born out of necessity, has been partly successful, but has also created persistent problems. With the further increase of public debt, especially in France and Italy, the danger of a renewed crisis in the euro area was growing. The European Stability Mechanism (ESM) together with the (strongly politicized) European Commission will replace the Troika in the future, following decisions of the EU Summit of December 2018. It shall play the role of a European Monetary Fund in the event of a crisis. The IMF, on the other side, will no longer play an active role in solving sovereign debt crises in the euro area. The current course is, however, inadequate to tackle the core problems of the euro zone and to avoid future crises, which are mainly structural in nature and due to escalating public debt and lack of international competitiveness of some member countries. The current Corona crisis will aggravate the institutional problems. It has led to a common European fiscal response ("Next Generation EU"). This rescue and recovery program will not be financed by ESM resources and will not be monitored by the ESM. One important novelty of this package is that it involves the issuance of substantial common European debt.}, subject = {Europ{\"a}ische Union}, language = {en} } @techreport{JostToedter2021, type = {Working Paper}, author = {Jost, Thomas and T{\"o}dter, Karl-Heinz}, title = {Reducing sovereign debt levels in the post-Covid Eurozone with a simple deficit rule}, series = {IMFS Working Paper Series}, journal = {IMFS Working Paper Series}, year = {2021}, subject = {Eurozone}, language = {en} } @misc{Jost2021, author = {Jost, Thomas}, title = {Die Gefahr ultraexpansiver Geldpolitik}, editor = {Main-Echo,}, pages = {1}, year = {2021}, subject = {Geldpolitik}, language = {de} } @misc{Jost2023, author = {Jost, Thomas}, title = {Missbraucht nicht die Mindestreserve!}, year = {2023}, abstract = {Der Vorschlag einer drastischen Erh{\"o}hung des Mindestreservesatzes durch die EZB erhitzt die Gem{\"u}ter. Nach teils heftiger Kritik hochrangiger Bankenvertreter in Deutschland werden die „{\"u}blichen" Beschuldigungen vorgebracht und von Medien z.T. unreflektiert wiedergegeben bzw. kommentiert. Die Banken erhielten seit Herbst 2022 - so das g{\"a}ngige Muster - risikolose und ungerechte Subventionen und w{\"u}ssten nichts Besseres mit ihren Einlagen bei der Bundesbank anzufangen. Diese Kritik greift zu kurz und ist teils sachlich falsch.}, subject = {Mindestreservesatz}, language = {de} } @techreport{GubitzJostSeitzetal.2022, type = {Working Paper}, author = {Gubitz, Andrea and Jost, Thomas and Seitz, Franz and T{\"o}dter, Karl-Heinz and Ziebarth, Gerhard}, title = {Das gescheiterte Großexperiment der EZB - und was jetzt?}, pages = {11}, year = {2022}, subject = {Zins{\"a}nderung}, language = {de} } @article{JostToedter2022, author = {Jost, Thomas and T{\"o}dter, Karl-Heinz}, title = {Schuldenquoten in der Eurozone mit neuer Defizitregel abbauen}, series = {{\"O}konomenstimme}, volume = {2022}, journal = {{\"O}konomenstimme}, number = {2022/10}, pages = {1 -- 2}, year = {2022}, subject = {Geldpolitik}, language = {de} } @article{Jost2001, author = {Jost, Thomas}, title = {Direktinvestitionen}, series = {Das Wirtschaftsstudium}, volume = {2001}, journal = {Das Wirtschaftsstudium}, number = {2001/7}, pages = {963 -- 964}, year = {2001}, subject = {Direktinvestition}, language = {de} } @inproceedings{Jost2022, author = {Jost, Thomas}, title = {Pl{\"a}doyer f{\"u}r einen unabh{\"a}ngigen Europ{\"a}ischen W{\"a}hrungsfonds}, series = {Wirtschaftspolitische Weichenstellung f{\"u}r die Zukunft}, volume = {1}, booktitle = {Wirtschaftspolitische Weichenstellung f{\"u}r die Zukunft}, editor = {Piazolo, Marc and Jung, Mario and Harms, Inka}, address = {Kaiserslautern}, pages = {39 -- 46}, year = {2022}, subject = {Europ{\"a}ische Union}, language = {de} } @techreport{JostMink2024, type = {Working Paper}, author = {Jost, Thomas and Mink, Reimund}, title = {Central bank losses and commercial bank profits - unexpected and unfair?}, series = {IMFS Working Paper Series No. 199}, journal = {IMFS Working Paper Series No. 199}, pages = {35}, year = {2024}, abstract = {The Eurosystem and the Deutsche Bundesbank will incur substantial losses in 2023 that are likely to persist for several years. Due to the massive purchases of securities in the last 10 years, especially of government bonds, the banks' excess reserves have risen sharply. The resulting high interest payments to the banks since the turnaround in monetary poli-cy, with little income for the large-scale securities holdings, led to massive criticism. The banks were said to be making "unfair" profits as a result, while the fiscal authorities had to forego the previously customary transfers of central bank profits. Populist demands to limit bank profits by, for example, drastically increasing the minimum reserve ratios in the Eurosystem to reduce excess reserves are creating new severe problems and are neither justified nor helpful. Ultimately, the EU member states have benefited for a very long time from historically low interest rates because of the Eurosystem's extraordinary loose monetary policy and must now bear the flip side consequences of the massive expansion of central bank balance sheets during the necessary period of monetary policy normalisa-tion.}, subject = {Notenbank}, language = {en} } @misc{JostMink2024, author = {Jost, Thomas and Mink, Reimund}, title = {How to deal with the negative effects of inflated central bank balance sheets?}, organization = {SUERF}, pages = {1 -- 4}, year = {2024}, abstract = {Due to the massive purchases of securities in the last 15 years central banks incur substantial losses likely to persist for several years. On the other hand, the banking sector gains large profits from interest payments on their excess reserves holdings. Central banks and fiscal authorities must now bear the flip side consequences of their bond purchase programs. Populist demands to limit bank profits by drastically increasing minimum reserve ratios in the Eurosystem are creating new severe problems. Instead, a consistent and faster normalisation of central bank balance sheets would be desirable. Central banks should also no longer be central players in government bond markets to restore the lost boundaries between fiscal and monetary policy.}, subject = {Europ{\"a}ische Zentralbank}, language = {en} } @techreport{Jost2019, type = {Working Paper}, author = {Jost, Thomas}, title = {Von der Troika zu einem Europ{\"a}ischen W{\"a}hrungsfonds - Welche Aufgaben und Grenzen sollte ein Europ{\"a}ischer W{\"a}hrungsfonds nach den Erfahrungen mit der Troika haben?}, series = {Weidener Diskussionspapiere Nr. 66}, journal = {Weidener Diskussionspapiere Nr. 66}, pages = {26}, year = {2019}, subject = {Europ{\"a}ische Kommission}, language = {de} }