The bank-based financial systems of Germany and Japan were considered most conducive to growth in the 1980s. After the Japanese stagnation of the 1990s and the most recent slump in Germany, the conviction that the market-based Anglo-American financial systems are a prerequisite for a dynamic...

Post-Keynesian demand driven distribution and growth models, based on the notion of distribution conflict between different groups, have been critical regarding the macroeconomic effects of 'financialisation'. In the present paper, firstly, we attempt to identify theoretically and empirically...

At a time with growing fears of excessive government debt and of overburdened future generations Swiss fiscal policy seems to be the virtuous role model to be followed. Whereas almost everywhere else government debt has been increasing dramatically after the global economic and financial crisis...

In der Studie wird die Zusammensetzung der gesamtwirtschaftlichen Arbeitskosten von Industriegütern nach Herkunftsbereichen und Arbeitszeitgruppen analysiert. Unter Nutzung der Input-Output-Methode wird der Einfluss der unterschiedlich hoch bezahlten Arbeit im Verarbeitenden Gewerbe und dem...

n the first part of the study developments of factor shares in six advanced economies since the early 1960s are presented. Instead of focusing on the wage share, ie the share of national income that goes to employees, a broader measure is used to account for all labor income, the labor income...

We review the major provisions of Dodd-Frank, focusing on the monitoring of systemic risk, the limitation on proprietary trading, the regulation of the hedge fund industry, credit rating agencies, and the rules applicable to derivative trading. We compare these provisions with the recent...

In Germany, inequality of net equivalized income increased noticeably in the first half of the new millennium. We aim to identify the main drivers of this rise in income inequality since the early 1990s. We provide a broad overview of the circumstances under which inequality evolved, i.e. which...

Die vorliegende Arbeit befasst sich detailliert mit dem Flexibilisierungsinstrument Kurzarbeit. Dazu wird die institutionelle Entwicklung und der Stand der wissenschaftlichen Forschung ausführlich vorgestellt. Ökonomisch finden sich viele Argumente pro Kurzarbeit, wie bspw. die Senkung von...

Die aktuelle Krise in der Eurozone wurde durch ein permanentes Auseinanderdriften von Löhnen, Lohnstückkosten und Preisen und entsprechend starke Divergenzen zwischen den Leistungsbilanzen der Mitgliedstaaten verursacht. Der Europäische Rat hat diese offene Flanke der europäischen...

The current crisis in the Economic and Monetary Union (EMU) was caused by strong divergences in wages, unit labour costs and prices resulting in member states running large current account surpluses and deficits. The European Council attempted to respond to this governance gap by adopting a...