This paper examines the significance of different fundamental regimes by applying various monetary models of the exchange rate to one of the politically most important exchange rates, the exchange rate of the US dollar vis-à-vis the euro (the DM). We use monthly data from 1975:01 to 2007:12....

This paper examines the significance of different fundamental regimes by applying various monetary models of the exchange rate to one of the politically most important exchange rates, the exchange rate of the US dollar vis-à-vis the euro (the DM). We use monthly data from 1975:01 to 2007:12....

This paper examines the degree of correlation of EU regional employment cycles and attempts to show whether these cycles reflect changing patterns of specialisation. By focusing on the regional level and by employing three different indicators of similarity of sectoral structure, it improves on...

This paper empirically assesses the impact of specialisation on the synchronisation of regional business cycles in two core countries of EMU, namely France and Germany. Several specialisation indices are introduced and some first stylised facts about interregional business cycle correlations are...

Based on a post-Keynesian model of the relationship between wages, prices and employment, this paper begins by studying the extent to which unit labour cost trends have been responsible for disinflation and deflationary tendencies in Germany and Europe. Thereafter, the reasons for the...

This paper studies the impact of process and product innovations introduced by firms on employment growth in these firms. A simple model that relates employment growth to process innovations and to the growth of sales separately due to innovative and unchanged products is developed and estimated...

Das im EWU-Vergleich zurückbleibende deutsche Wirtschaftswachstum wird immer wieder zum Anlass genommen, vor allem auf dem Arbeitsmarkt stärkere Flexibilität einzufordern. Sind die Ursachen für das schwache Wirtschaftswachstum Deutschlands tatsächlich primär auf dem Arbeitsmarkt zu suchen?...

It is generally held, from both a global and a European perspective, that the three most impor-tant objectives for the years to come are 1) the reduction of current account imbalances, 2) the reduction of public deficits, and 3) the reduction of unemployment. This paper argues that the Stability...