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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

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

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

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

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

Do tax distortions lead to more indeterminacy? A New Keynesian perspective

Di Bartolomeo, Giovanni; Manzo, Marco - Volkswirtschaftliche Fakultät, … - 2007

Following the recent developments of the literature on stabilization policies, this paper investigates the effect of tax distortions on equilibrium determinacy in a New Keynesian economy with rule-of-thumb consumers and capital accumulation. In particular, we focus on the inter-action between...

Persistent link: https://www.econbiz.de/10005835728

The Cost of Social Pacts

Acocella, Nicola; Di Bartolomeo, Giovanni - Volkswirtschaftliche Fakultät, … - 2007

Social pacts, while improving macroeconomic performance, usually impose costs on unions. To facilitate the formation of such pacts, various substitutes can operate, such as the payment of transfers or, to some extent, the conservativeness of the government, union’s inflation aversion or...

Persistent link: https://www.econbiz.de/10005835806

Heterogeneous Consumers, Demand Regimes, Monetary Policy and Equilibrium Determinacy

Di Bartolomeo, Giovanni; Rossi, Lorenza - Volkswirtschaftliche Fakultät, … - 2005

This paper investigates the effects of monetary policy in presence of heterogeneous consumers. We study the effectiveness (quantitative effects) of monetary policy and equilibrium determinacy properties of a New Keynesian DSGE model where a fraction of households cannot smooth consumption. We...

Persistent link: https://www.econbiz.de/10005836497

Is there any scope for corporatism in stabilization policies?

Acocella, Nicola; Di Bartolomeo, Giovanni; Pauwels, Wilfried - Volkswirtschaftliche Fakultät, … - 2007

This paper studies corporatism as the outcome of bargaining between the government and a representative labor union. We show that if negotiations between these two parties only relate to macroeconomic stabilization, corporatism can never be beneficial to both parties. As corporatist policies are...

Persistent link: https://www.econbiz.de/10005837426

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