The book is devoted to a theoretical and econometric analysis of structural unemployment by making use of the Beveridge curve, i. e., the relationship between unemployment and vacancies. It is investigated to what extent various kinds of inflexibilities such as a higher regional and...

The analysis will be conducted within an IS-LM model augmen- ted by the dynamics of money wages, private capital and public debt. A macroeconomic shock induces an extended process of adjustment that is characterized by unemployment. This in turn requires a dynamic path of monetary and fiscal...

This monograph starts with a survey of the One-Relative- Price (Q value) Theory of Investment and then explores the richness of the Many-Relative-Price Theory of Investment: Firstly a tractable model of modernization investment is presented which recognizes that in modern economies more than...