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...

In dem Report werden die möglichen mittel- bis langfristigen Investitions- und Wachstumswirkungen der strukturellen Veränderungen des deutschen Finanzsystems, ausgehend von einer Reihe von Gesetzesreformen seit Beginn der 1990er Jahre, untersucht. Ein Vergleich mit den USA zeigt dabei, dass...

In den USA ist "Finanzialisierung" während der letzten zweieinhalb Jahrzehnte mit einer tendenziellen Abschwächung der Investitionstätigkeit bei gleichzeitig kräftiger Entwicklung des privaten Konsums u.a. auf der Grundlage von Vermögenspreissteigerungen einhergegangen. Im Ergebnis zeigte...

In this article an overview of the German macroeconomic performance in the last decade is stressed; extraordinary recovery of the German productivity and successes of the foreign trade face depressed domestic demand and a still worrying situation in the labour market. This article attempts to...

This paper deals with the estimation of employment equations for Germany, which are to be used for forecasting and simulation purposes. The authors estimate both single and system error correction equations for German working hours using quarterly raw data covering the period 1980:1-2004:2....

This paper investigates the reasons for the exceptionally robust performance of the German labour market during the Great Recession. While GDP dropped by more than five per cent in 2009, employment remained constant and started to increase soon after. We compare this recession to other major...

This paper investigates the role of family firms in the fall of the labor share and rise in corporate saving in Germany from 1993 to 2019. Combining a new Family Ownership and Governance (FOG) database with financial data, we analyze 929 publicly listed firms. Our findings show that firm-level...