Demography and the labour market are two important aspects that will have to be discussed in connection with possible Turkish membership of the European Community. The following article discusses these aspects primarily with regard to the situation in the EC and in Germany, which in the past was...

What are the dynamic consequences of comprehensive integration shocks? The answer to this question appears all but trivial. We set up a dynamic macroeconomic model of a small open economy where both capital and labor are mobile and there are increasing returns to scale at the aggregate level....

Labour incomes depend on structural as well as politico-economic factors, because labour market policies partially remedy the financial market imperfections that make labour income shocks difficult to insure, and have different implications for labour and capital income. This paper illustrates...