After the crisis years of 2008 and 2009 EU countries followed different employment paths. Employment and wage levels, for instance, are quite unevenly distributed across Europe. Some of the EU countries expect labour shortages due to demographic change in the future. If this is the case, wages...

The paper surveys the evolution of modern macroeconomic models with the focus on the interrelations between endogenous growth and cyclical fluctuations. After reviewing models of the business cycle and endogenous growth, the paper discusses literature combining elements of both of them.

The study analyses the interaction between the trading behaviour of 1,024 moving average and momentum models and the fluctuations of the yen/dollar exchange rate. The paper shows first that these models would have exploited exchange rate trends quite profitably between 1976 and 1999, and then...