The paper combines Baumol’s model of structural change with a model of aggregate demand growth in the Keynesian-Kaleckian tradition to predict the dynamics of aggregate employment. The model for the demand regime is estimated with – and Baumol’s model for the productivity regime is...

I investigate whether demand growth and productivity growth in Switzerland have benefitted from the wage moderation that set in at the beginning of the 1990s in this country. The results suggest that the Swiss demand regime is profit-led while the productivity regime is wage-led. This means on...

Macroeconometric policy simulation models allow for an analysis, and, above all, for a quantification of the effects different economic policies have on the various variables that represent the economy. Despite the seminal Lucas critique levelled against them, these models are still widely used,...

Der Beitrag verwendet das Modell des unbalancierten Wachstums von Baumol (1967), um zu zeigen, dass sich ökonomische Probleme reifer Volkswirtschaften - wie die Abschwächung des Wirtschaftswachstums, der Anstieg der Staatsquote und die Kostenexplosion im Gesundheitswesen - zwar erklären, aber...

Macroeconomic data are indispensable for modern governance, yet it is often unclear how reliable these data are. The production process of macroeconomic data inside the statistical offices is often not very transparent for the general public. Bystanders usually have no choice but to take for...

Macroeconometric policy simulation models allow for an analysis, and, above all, for a quantification of the effects different economic policies have on the various variables that represent the economy. Despite the seminal "Lucas critique" levelled against them, these models are still widely...

Der Beitrag verwendet das Modell des "unbalancierten Wachstums" von Baumol (1967), um zu zeigen, dass sich ökonomische Probleme reifer Volkswirtschaften - wie die Abschwächung des Wirtschaftswachstums, der Anstieg der Staatsquote und die "Kostenexplosion" im Gesundheitswesen - zwar erklären,...