@article{Herzog2017,
  author    = {Herzog, Bodo},
  title     = {Abwicklungsmechanismus f{\"u}r Mitgliedstaaten des Euroraums},
  series = {Wirtschaftsdienst : Zeitschrift f{\"u}r Wirtschaftspolitik},
  volume    = {97},
  journal   = {Wirtschaftsdienst : Zeitschrift f{\"u}r Wirtschaftspolitik},
  number    = {12},
  publisher = {Springer},
  address   = {Heidelberg},
  issn      = {0043-6275},
  doi       = {10.1007/s10273-017-2229-8},
  pages     = {881 -- 888},
  year      = {2017},
  abstract  = {Die weiterhin hohen Schulden in einigen Staaten der Europ{\"a}ischen Wirtschafts- und W{\"a}hrungsunion lassen nach wie vor staatliche Insolvenzen bef{\"u}rchten. Um die entstandenen Probleme zu bew{\"a}ltigen, aber auch damit eine solche Situation erst gar nicht eintritt, h{\"a}lt der Autor eine staatliche Insovenzordnung - mit Bail-out durch die anderen Mitgliedstaaten nur in Notf{\"a}llen - f{\"u}r erforderlich. Er schl{\"a}gt einen staatlichen Abwicklungsmechanismus f{\"u}r {\"u}berschuldete Euro-L{\"a}nder vor, der auf einem Konzept des Sachverst{\"a}ndigenrates f{\"u}r Wirtschaft von 2016 beruht.},
  language  = {de}
}
@article{HerzogChoi2017,
  author    = {Herzog, Bodo and Choi, Minjae},
  title     = {Policy rules in the Economic and Monetary Union},
  series = {Intereconomics : review of European economic policy},
  volume    = {52},
  journal   = {Intereconomics : review of European economic policy},
  number    = {1},
  publisher = {Springer},
  address   = {Berlin ; Heidelberg},
  issn      = {0020-5346},
  doi       = {10.1007/s10272-017-0643-1},
  pages     = {51 -- 56},
  year      = {2017},
  abstract  = {This paper studies whether a monetary union can be managed solely by a rule based approach. The Five Presidents' Report of the European Union rejects this idea. It suggests a centralisation of powers. We analyse the philosophy of policy rules from the vantage point of the German economic school of thought. There is evidence that a monetary union consisting of sovereign states is well organised by rules, together with the principle of subsidiarity. The root cause of the euro crisis is rather the weak enforcement of rules, compounded by structural problems. Therefore, we suggest a genuine rule-based paradigm for a stable future of the Economic and Monetary Union.},
  language  = {en}
}