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Macroeconomic co-ordination as an economic policy concept - opportunities and obstacles in the EMU

Hein, Eckhard; Truger, Achim - EconWPA - 2004

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

Guidelines for sustained growth in the EU? The concept and consequences of the Broad Economic Policy Guidelines

Hein, Eckhard; Niechoj, Torsten - EconWPA - 2005

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

Macroeconomic co-ordination as an economic policy concept – opportunities and obstacles in the EMU

Hein, Eckhard; Truger, Achim - EconWPA - 2004

Persistent link: https://www.econbiz.de/10005412745

Leitlinien für ein dauerhaftes Wachstum in der EU? Konzept und Wirkung der Grundzüge der Wirtschaftspolitik

Hein, Eckhard; Niechoj, Torsten - EconWPA - 2005

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

Money, Interest, and Capital Accumulation in Karl Marx’s

Hein, Eckhard - EconWPA - 2005

. Money as a social representative of value, therefore, is introduced at the very beginning of Marx’s microeconomics. Marx …’s rejection of Ricardo’s interpretation of Say’s Law requires that money as a means of circulation and as a means of payment is … realisation of profits for the capitalist class as a whole requires money advances, which have to increase by means of rising …

Persistent link: https://www.econbiz.de/10005076655

When do stock market booms occur? the macroeconomic and policy environments of 20th century booms

Bordo, Michael D.; Wheelock, David C. - Federal Reserve Bank of St. Louis - 2006

This paper studies the macroeconomic conditions and policy environments under which stock market booms occurred among ten developed countries during the 20th Century. We find that booms tended to occur during periods of above-average growth of real output, and below-average and falling...

Persistent link: https://www.econbiz.de/10005352825

Inflation, monetary policy and stock market conditions: quantitative evidence from a hybrid latent-variable VAR

Bordo, Michael D.; Dueker, Michael J.; Wheelock, David C. - Federal Reserve Bank of St. Louis - 2009

This paper examines the association between inflation, monetary policy and U.S. stock market conditions during the second half of the 20th century. We use a latent-variable VAR to estimate the impact of inflation and other macroeconomic shocks on a latent index of stock market conditions. Our...

Persistent link: https://www.econbiz.de/10005352826

The great inflation: did the shadow know better?

Poole, William; Rasche, Robert H.; Wheelock, David C. - Federal Reserve Bank of St. Louis - 2008

The Shadow Open Market Committee was formed in 1973 in response to rising inflation and the apparent unwillingness of U.S. policymakers to implement policies necessary to maintain price stability. This paper describes how the Committee's policy views differed from those of most Federal Reserve...

Persistent link: https://www.econbiz.de/10005352943

Monetary policy and stock market booms and busts in the 20th century

Bordo, Michael D.; Dueker, Michael J.; Wheelock, David C. - Federal Reserve Bank of St. Louis - 2007

This paper examines the association between monetary policy and stock market booms and busts in the United States, United Kingdom, and Germany during the 20th century. Booms tended to arise when output growth was rapid and inflation was low, and end within a few months of an increase in...

Persistent link: https://www.econbiz.de/10005707680

Monetary Policy and Wage Bargaining in the EMU: Restrictive ECB Policies, High Unemployment, Nominal Wage Restraint and Rising Inflation

Hein, Eckhard - EconWPA - 2005

(EMU), in the first step a Post-Keynesian competitive claims model of inflation with endogenous money is developed. In this …

Persistent link: https://www.econbiz.de/10005412586