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At the end of World War II, the Soviet secret police installed ten special camps in the Soviet occupation zone, later to become the German Democratic Republik. Between 1945 and 1950, roughly 154,000 Germans were held incommunicado in these camps. Whether those accused of being Nazis, spies, or terrorists were indeed guilty as charged, they were indiscriminately imprisoned as security threats and denied due process of the law. One third of the captives did not survive. To this day, most Germans have no knowledge of this postwar Stalinist persecution, even though it exemplifies in a unique way...

This book demonstrates how public debt shows feedback effects affecting economic growth and welfare. It gives insights into the sustainability of public debt in developed and developing countries.

Starting point of this book is the observation that an increase in public debt must be accompanied by a rise in the primary surplus of the government to guarantee sustainability of public debt. The book first elaborates on that principle from a theoretical point of view and then tests whether empirical evidence for that rule can be found. Additional tests are implemented to gain further evidence on sustainability of public debt. In order to allow for time varying coefficients penalized spline estimations are performed. The theoretical chapters present endogenous growth models and assume that...

This contributed volume combines approaches of the current inequality debate with aspects of finance based on profound macroeconomic model analyses. With the financial crisis from 2007, not only output decreased tremendously, but also inequality has risen since then.