The paper studies the major institutional changes that are at the root of the increase in the west European unemployment rate in the last quartercentury from below 3 percent to 11 percent. The institutional characteristics of wage bargaining, the tax wedge and the legal rules hamper the...

Wie sich in einer Volkswirtschaft die Arbeitslosigkeit entwickelt, läßt sich vielfältig illustrieren. In diesem Papier werden einige Schaubilder und Tabellen dargestellt, die wichtige Aspekte der Entwicklung der Arbeitslosigkeit in Deutschland beinhalten.

The paper discusses the impact of high capital mobility for monetary and budget policy as well as for the Provision of public goods, for taxation, for wage policy and trade unions, for distribution policy, and for social security Systems. The mobility of porrfolio capital puts additional...

Germany's system of economic and political governance strongly relies on group decision-making and consensus to solve economic issues. This approach relates to a wide spectrum of decisions, including the social partners with the trade unions and the employers' associations in wage formation, the...

The paper reviews the necessary reforms of Germany and also addresses the question whether the reforms need a big bang or whether they can be accomplished by a piece meal approach.

This paper analyzes China's economic performance in the last 25 years and discusses its prospect for growth in the future. China has enjoyed high annual GDP growth rates of about ten percent in the last 25 years. Exports and investment were the two driving forces of the growth process. FDI plays...