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Having the high unemployment in Germany in mind, this book discusses how macroeconomic theory has evolved over the past …
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The persistently low wage and price growth in the EMU after the Great Recession of 2009 led some economic observers to conclude that the Phillips Curve has broken down and that the ECB should therefore reconsider its infl ation target. This study makes use of the considerable cross-country and...
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unemployment. Is it therefore appropriate to advise other member states of the European monetary union to carry out similar reforms …? This paper strongly disagrees, arguing that the reduction in unemployment in Germany since 2005 is mainly due to cyclical …
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government is low unemployment. However, there is a short-run trade-off between low inflation and low unemployment. Here the main …
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