The authors of this paper formulate a disequilibrium AS-AD model based on sticky wages and prices, perfect foresight of current inflation rates and adaptive expectations concerning the inflation climate in which the economy operates. The model consists of a wage and a price Phillips curves, a...

Einleitendes -- Einleitendes -- Grundlagen der Makroökonomik -- Präkeynesianische Makroökonomik. Darstellung und Kritik -- Keynesianische Beschäftigungstheorie: Die kurze Sicht -- Konventionelle Analysen von Inflation und Wachstumsprozessen -- Makroökonomik für Fortgeschrittene --...

Dieses Lehrbuch zur makroökonomischen Theorie betrachtet die Einkommens-, Zins- und Beschäftigungstheorie, die Analyse von Inflation und Unterbeschäftigung und die Wachstumstheorie durchgängig aus keynesianscher Sicht. Es konfrontiert die dabei erzielten Aussagen und Ergebnisse insbesondere...

This paper illustrates a behavioral mixed frequency macro-finance model where both real and financial variables are generated on a daily basis. Further, while financial sector data is collected at the same frequency as it is generated (i.e. daily), real data can only be collected on a quarterly...

Currently, many monetary and fiscal policy measures are aimed at preventing the financial market meltdown that started in the US subprime sector and has spread worldwide as a great recession. Although some slow recovery appears to be on the horizon, it is worthwhile exploring the fragility and...

In the last months, the world's economies were confronted with the largest economic recession since the Great Depression. The occurrence of a worldwide financial market meltdown as a consequence originally stemming from of the crisis in the US subprime housing sector was only prevented by...