The COVID-19 crisis has the potential to lead to long-term stagnation in the European Monetary Union (EMU). Especially the following challenges can be identified: a lack of labour market institutions can lead to nominal wage cuts and deflation; the lack of a strong fiscal centre can lead to an...

In diesem Lehrbuch werden die verschiedenen volkswirtschaftlichen Denkschulen didaktisch aufbereitet. Dargestellt werden insbesondere das neoklassische Paradigma und die verschiedenen Varianten des Keynesianismus, also der Keynesianismus der Neoklassischen Synthese, der Neu-Keynesianismus und...

Chapter 1. introduction -- Chapter 2. The German Hyperinflation of 1923 -- Chapter 3. Macroeconomic Developments from the End of theof the 1960s to the early 1980s -- Chapter 4. The Inflation Wave from the Late 1960s onward -- Chapter 5. Comparison of developments in the various countries --...

Money, Distribution and Economic Policy takes issue with the inappropriate treatment of money, effective demand and distribution issues in modern mainstream macroeconomics. It presents contributions which are critical of modern orthodoxy and which explore alternative approaches to macroeconomics...