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The paper fundamentally challenges the institutional sclerosis explanation of the present German economic stagnation. Instead we present a macroeconomic explanation focusing on the combined effects of too restrictive monetary policies, too restrictive and sometimes pro-cyclical fiscal policies...
Persistent link: https://www.econbiz.de/10003744520
The Broad Economic Policy Guidelines contain the answers of the European Commission and the governments of the EU-member countries to the European growth and employment problems. These guidelines have been the major EU-economic policy concept for around ten years now. They can be seen as a...
Persistent link: https://www.econbiz.de/10003744521
In order to explain slow growth and high unemployment in the Euro area, in particular if compared to the USA, we follow a macroeconomic policy view focussing on the more restrictive stance of monetary, fiscal and wage policies in the Euro area. In the present paper we focus on the particular...
Persistent link: https://www.econbiz.de/10003744533
Since the start of the European Monetary Union fiscal policy in the Euro area has been dominated by the Stability and Growth Pact (SGP). Quite obviously the SGP has been unsuccessful in fulfilling its goals, fiscal sustainability and supporting economic growth. More and more countries have...
Persistent link: https://www.econbiz.de/10003744534
The New Consensus approach in macroeconomics is criticised for its exclusive but unwarranted reliance on stabilising monetary policies, for its ill-designed approach to the role of wages and wage policies, and for its complete neglect of fiscal policies. From a Post-Keynesian perspective, it is...
Persistent link: https://www.econbiz.de/10003744540
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Persistent link: https://www.econbiz.de/10003527980
Infolge der Finanz- und Wirtschaftskrise sind insbesondere in den Ländern mit Leistungsbilanzdefiziten die Defizite der öffentlichen Haushalte empor geschnellt und die Staatsverschuldung ist stark gestiegen. Damit ist die Frage nach dem Umgang mit den Ungleichgewichten im Euroraum und mit...
Persistent link: https://www.econbiz.de/10009503562
Die Wirtschaftspolitik kann noch nicht aufatmen; zu schwer lasten die Folgeschäden der Krise insbesondere auf der … europäischen Wirtschaft. Soll der Euroraum als Ganzes erhalten bleiben, muss die Wirtschaftspolitik ihn auch als eine Einheit … verstehen und entsprechend handeln. Die enge nationale Perspektive muss von der Wirtschaftspolitik aufgegeben werden und einer …
Persistent link: https://www.econbiz.de/10009696612