@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} }