Germany’s austerity-oriented economic policy is the wrong approach. Markets need demand stimulation to achieve full use of resources, argues Krugman, a Keynesian economist. Neoclassical economists have been warning that expansionary macroeconomic policies are not only useless but can even be...

Institutional Frameworks and Labor Market Performance produces an in-depth analysis of the functioning of various labor market institutions in both the USA and Germany. Particular emphasis is given to the substantial differences between the US and Germany in the ways important areas are...