In a series of articles and books, Harold Vatter and John Walker attempted to make the case that the American economy suffers from chronically insufficient demand that leads to growth below capacity. Of particular interest are a 1989 Journal of Post Keynesian Economics article that extends...

This paper aims at the provision of applicable recommendations for institutions and actors involved regarding the EMU accession process both in CEE and in the euro-zone. In order to provide topical advice, the first part, on markets, will concentrate on theory and empirics of labour markets,...

This report discusses both the reshaping of certain policy areas and the socio-political repercussions an Eastward enlargement of the euro-zone may have. The focus lies on the potential for social conflict enhanced by the enlargement process and their consequences for national policy-making. The...

Foreign direct investment is of increasing importance in the European Union. This paper estimates the effect of taxes on foreign direct investment (FDI) flows and on three sub-components of these flows for the countries of the en- larged European Union. The model in the spirit of gravity...

Previous studies found that Islamic stock market index in Malaysia (KLSI), does not react, or react negatively to interest rate, although one of the main criteria of Islamic finance is to avoid business and activities that yield interest because of its prohibition in Islamic laws. On the other...

This paper analyzes the dynamics of structural polarization and macroeconomic divergence in the context of European integration, where the latter is understood primarily as an increase in economic and financial openness. In the process of estimating the dynamic effects of such an openness shock...

Russia was in the direst straits even before the Ukraine crisis erupted on a grand scale in 2014. The sanctions imposed after the annexation of Crimea have deterred investments still further and instigated capital flight. The oil price slump of late 2014 and the related collapse of the rouble...

Vladimir Putin's presidency will last until 2024 – longer than most other Russian or Soviet leaders ruled. This Policy Note provides a brief review of past economic developments and reform attempts. We argue that past reforms have in effect failed yet the main economic challenges currently...

This paper discusses the uneven consequences of the macroeconomic fallout from the coronavirus and related economic policy responses against the background of an analysis of longer-term macroeconomic divergence in the Eurozone. We show that the macroeconomic impact of the Corona crisis is...

Die Wirtschaftswissenschaft spielt eine wesentliche Rolle im Drama der multiplen Gesellschaftskrise: Ihre dominanten Strömungen folgen einer ideologischen marktfundamentalen Erzählung, die die Krisen nicht adäquat erklären kann und sie dadurch verschärft. Ziel des Beitrages ist es, einen...