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Macroeconomic co-ordination as an economic policy concept : opportunities and obstacles in the EMU
Truger, Achim; Hein, Eckhard - Wirtschafts- und Sozialwissenschaftliches Institut, … - 2004
-)Keynesian analysis is presented as a growth and employment-oriented alternative to this restrictive policy mix. Contrary to the strict … alternative requires the coordination of monetary, fiscal and wage policies in order to achieve growth, high employment and price …
Persistent link: https://www.econbiz.de/10009327899
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European Monetary Union: Nominal convergence, real divergence and slow growth? An investigation into the effects of changing macroeconomic policy institutions associated with monet...
Hein, Eckhard; Truger, Achim - Wirtschafts- und Sozialwissenschaftliches Institut, … - 2002
concept of money and their satisfaction may be largely endogenous to shifts in the economic policy regime. Growth and …, in this paper the effects of the new EMU institutional framework for monetary, fiscal and wage policies on overall growth … has neither been conducive to aggregate growth nor to real convergence across the euro area. In order to improve growth …
Persistent link: https://www.econbiz.de/10009327917
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Leitlinien für ein dauerhaftes Wachstum in der EU? Konzept und Wirkung der Grundzüge der Wirtschaftspolitik
Niechoj, Torsten; Hein, Eckhard - Wirtschafts- und Sozialwissenschaftliches Institut, … - 2004
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 growth in the EU. Examining the guidelines we show the weaknesses of … the economic policy model behind it and outline an alternative concept which promises more growth for Europe in the long …
Persistent link: https://www.econbiz.de/10009327942
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Finance-dominated capitalism, re-distribution and the financial and economic crises - a European perspective
Hein, Eckhard - Volkswirtschaftliche Fakultät, … - 2012
In this paper the euro crisis is viewed as the most recent episode of the crisis of finance-dominated capitalism. Therefore, two major features of finance-dominated capitalism, the increasing inequality of income distribution and the rising imbalances of current accounts, are analysed for a set...
Persistent link: https://www.econbiz.de/10009397198
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Finance-dominated capitalism in crisis – the case for a Global Keynesian New Deal
Hein, Eckhard; Truger, Achim - Volkswirtschaftliche Fakultät, … - 2010
We analyse the long-run imbalances of finance-dominated capitalism underlying the present crisis – which began in 2007 – with a focus on developments in the US and Germany. We argue that beyond inefficient regulation of the financial sector, the severeness of the present crisis has been...
Persistent link: https://www.econbiz.de/10008592982
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Non-Robust Dynamic Inferences from Macroeconometric Models: Bifurcation Stratification of Confidence Regions
Barnett, William A.; Duzhak, Evgeniya - Volkswirtschaftliche Fakultät, … - 2006
Grandmont (1985) found that the parameter space of the most classical dynamic models are stratified into an infinite number of subsets supporting an infinite number of different kinds of dynamics, from monotonic stability at one extreme to chaos at the other extreme, and with all forms of...
Persistent link: https://www.econbiz.de/10005837359
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Existence of Singularity Bifurcation in an Euler-Equations Model of the United States Economy: Grandmont was Right
Barnett, William A.; He, Susan - Volkswirtschaftliche Fakultät, … - 2009
Abstract: Grandmont (1985) found that the parameter space of the most classical dynamic general-equilibrium macroeconomic models are stratified into an infinite number of subsets supporting an infinite number of different kinds of dynamics, from monotonic stability at one extreme to chaos at the...
Persistent link: https://www.econbiz.de/10005619286
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What broke the bubble?
Barnett, William A. - Volkswirtschaftliche Fakultät, … - 2008
This paper is the basis for the Guest Columnist article in the Tuesday, November 11, 2008 issue of the Kansas City Star newspaper's Business Weekly. Because of space limitations, the published newspaper column had to be shortened from the original and unfortunately did not include either of the...
Persistent link: https://www.econbiz.de/10005622040
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Hopf bifurcation in the Clarida, Gali, and Gertler model
Barnett, William A.; Eryilmaz, Unal - Volkswirtschaftliche Fakultät, … - 2012
We explore bifurcation phenomena in the open-economy New Keynesian model developed by Clarida, Gali and Gertler (2002). We find that the open economy framework can bring about more complex dynamics, along with a wider variety of qualitative behaviors and policy responses. Introducing parameters...
Persistent link: https://www.econbiz.de/10011109244
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Finance-dominated capitalism, re-distribution, household debt and financial fragility in a Kaleckian distribution and growth model
Hein, Eckhard - Volkswirtschaftliche Fakultät, … - 2011
In a Kaleckian distribution and growth model with workers’ debt we examine the short- and long-run effects of three …
Persistent link: https://www.econbiz.de/10009325648