Showing 1 - 10 of 14
Assessing the effects of monetary policy and wage bargaining on employment and inflation in the European Monetary Union (EMU), in the first step a Post-Keynesian competitive claims model of inflation with endogenous money is developed. In this model the NAIRU is considered to be a short-run...
Persistent link: https://www.econbiz.de/10005412586
The introduction of monetary variables into post-Keynesian models of distribution and growth is an ongoing process. Lavoie (1995) has proposed a Kaleckian ‘Minsky-Steindl-model’ of distribution and growth, incorporating the effects debt and debt services have on short and long run capital...
Persistent link: https://www.econbiz.de/10005412605
This paper traces the euro zone’s inadequate macroeconomic performance in recent years back to the predominance of a restrictive macroeconomic policy mix based on a ‘new monetarist’ approach to economic policy. An approach based on a (post-)Keynesian analysis is presented as a growth and...
Persistent link: https://www.econbiz.de/10005412745
The Broad Economic Policy Guidelines contain the answers of the European Com-mission and the EU-governments to the growth and employment problems in the EU. These guidelines have been the EU-economic policy concept for ten years now, but this concept has not been able to generate sustained...
Persistent link: https://www.econbiz.de/10005561155
This paper challenges the institutional sclerosis view of the German crisis according to which rigid labour markets and generous welfare state institutions have driven Germany into its position as „Europe’s sick man“. In general, the view is not convincing, because the underlying...
Persistent link: https://www.econbiz.de/10005076737
The paper questions the predominant view on unemployment and wages in the European Un-ion according to which high unemployment is primarily caused by labour market rigidities, i.e. social institutions and regulations which prevent “market-clearing” real wage levels and structures. It is...
Persistent link: https://www.econbiz.de/10005076845
This paper traces the euro zone’s inadequate macroeconomic performance in recent years back to the predominance of a restrictive macroeconomic policy mix based on a ‘new monetarist’ approach to economic policy. An approach based on a (post-)Keynesian analysis is presented as a growth and...
Persistent link: https://www.econbiz.de/10005126124
In the present paper we explicitly introduce interest payments and debt into a Kaleckian distribution and growth model with an investment function very close to Kalecki’s original writings. The effects of interest rate variations on the short-run equilibrium values of capacity utilisation,...
Persistent link: https://www.econbiz.de/10005126210
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/10005126214
Dem neu-keynesianischen langfristigen Gleichgewichtskonzept einer durch Strukturfaktoren des Arbeitsmarktes, der Lohnverhandlungen und der sozialen Sicherungssysteme bestimmten inflationsstabilen Arbeitslosenquote (NAIRU) wird in diesem Beitrag eine post- keynesianische Interpretation der NAIRU...
Persistent link: https://www.econbiz.de/10005126225