This article attempts to develop a perspective for radical reform of the Austrian and European universities. The article takes up anew a simple idea, already presented in an article in the widely circulated European political magazine “Die Zukunft” (Vienna) in 1991, proposing full University...

The employment, but also the efficient use of the available work resources is directly connected to the work market. It is an element that cannot be separated from the other elements of the work market, especially from unemployment, because if one deals with them separately, one cannot cover all...

The employment, but also the efficient use of the available work resources is directly connected to the work market. It is an element that can not be separated from the other elements of the work market, especially from unemployment, because if one deals with them separately, one can not cover...

Using an overlapping generations model, this note shows that an improvement in the efficiency of human capital production decreases the net income of the young household while increasing that of the old. Without compensating redistribution, it deteriorates lifetime utilities of all generations...

This paper examines the economic growth effects of limited availability of higher education in a simple endogenous growth model with overlapping generations. With limited availability, the scarcity of human capital keeps its price high and distributes a larger share of the aggregate output to...

Recent studies have indicated that the terms 'NAIRU' (non-accelerating inflation rate of unemployment) and 'natural rate of unemployment' are not interchangeable. While NAIRU is an empirical macroeconomic relationship estimated via a Phillips curve, the natural rate is an equilibrium condition...