Monetary analysis requires the introduction of monetary variables into the determination of the equilibrium values of real variables such as production, income, distribution, and accumulation. Contrary to Keynes's research program of a 'monetary theory of production', neither the older...

Monetary analysis requires the introduction of monetary variables into the determination of the equilibrium values of real variables such as production, income, distribution, and accumulation. Contrary to Keynes’s research program of a „monetary theory of production”, neither the older...

In this study, we examine how economic performance during the child-specific primary school phase, during which teachers make recommendations regarding secondary school level, affects the educational level achieved ultimately by these children. Using data for Germany, we find that an economic...

Der Autor untersucht den Zusammenhang zwischen Arbeitsmarktinstitutionen und Arbeitslosigkeit für 20 Industrieländer. Es wird geprüft, ob es einen nicht-linearen Zusammenhang zwischen Arbeitsmarktinstitutionen und Arbeitslosigkeit gibt. Dabei werden sowohl länderspezifische Einzelgleichungen...

This study examines whether the distribution of aggregate unemployment by duration affects individual well-being. Two hypotheses are provided to explain how the shares of short-term (up to 3 months) and long-term (more than 1 year) unemployed people could affect the well-being of the employed...

Books reviewed: Schettkat, Ronald/Langkau, Jochem (Hg.) (2007): Aufschwung für Deutschland. Plädoyer international renommierter Ökonomen für eine bessere Wirtschaftspolitik, Bonn Roncaglia, Alessandro/Sylos Labini, Paolo (2008): Geschichte des ökonomischen Denkens. Eine kurze Einführung,...

Books reviewed: Jonathan P. Goldstein/Michael G. Hillard (eds.) (2009): Heterodox Macroeconomics: Keynes, Marx and Globalization, London Mathew Forstater/L. Randall Wray (eds.) (2008): Keynes for the Twenty-First Century. The Continuing Relevance of The General Theory, Basingstoke L. Randall...

This paper examines the effects of the distribution of unemployment by age on the level of unemployment. We provide an extension of the standard equilibrium unemployment model that allows for age dependent job finding probabilities and quit rates. In the empirical part of the paper we apply a...

This paper examines the effects of the distribution of unemployment by duration on the level of unemployment. It explores one central as- sumption that is observed empirically: when the share of long-term (short-term) unemployed increases, the unemployment rate increases (decreases). By...