This book assesses major schools of thought in macroeconomic theory between the Great Depression and the Long Recession, focusing on their analysis of cycles, crises and macro-policy. It explores the road from the dominance of Keynesian ideas to those of New Classical Macroeconomics (NCM) toward...

A Short Post-communist Economic History of Emerging Europe -- Pre-crisis Central Banking -- Bubbles Everywhere (the 2000s)Under the Clouds of the Subprime Crisis (July 2007 – September 2008)The Lehman Tsunami (September – October 2008) -- The “Rescue Team” and Rescue Package (October –...

The financial crisis and the ensued 'great recession' are primarily caused by the excessive liquidity that was created in the last thirty years or so of inequality that benefited greatly the financial sector, deregulation and financial liberalisation as well as financial innovation

Einleitung -- Die Regierung Biden und die kopernikanische Wende -- Modern Monetary Theory als Teil der Volkswirtschaftslehre -- Was ist Wirtschaftspolitik? -- Wirtschaftspolitik auf Grundlage der MMT -- Ausblick.

Sebastian Dullien gives a novel explanation for unemployment and inflation in the Euro-Zone. He argues that unemployment stems from a lack of co-operation between unions and monetary authorities: In an economy with endogenous money as EMU, wage setters are responsible for price stability while...

Privates Vermögen und Schulden des Staats -- Der natürliche Zins und der optimale Zins im Steady State -- Vermögen und Vermögenswunsch -- Realkapital -- Boden -- Staatsschulden -- Investition, Ersparnis und Stagnation aus keynesianischer Sicht -- Abschließende Bemerkungen zum negativen...

This book explores what happened in the transition economies of China, Vietnam and Myanmar from both macro and micro perspectives, and questions whether the governments of these countries are capable of implementing effective reform and transformation

The economy of the 21st century in the OECD countries and in China, is characterized by a new phenomenon: the structural surplus of private savings in relation to private investment. On the one hand, this excess saving is due to people's increasing inclination to save in light of rising life...

1. Introduction -- Part I. The “Party Period” Before the Crisis -- 2. The Costs and Benefits for Joining a Common Currency with Emphasis on Weaker Member States: The Pre-crisis Debate -- 3. Greece Before the Crisis: The Critical Years in Domestic Politics -- 4. IMF and EU Reports on Greece...

1. Financial Integration, Bank Competition and Intra-Eurozone Foreign Direct Investment -- 2. Export Margins, Employment Skills and Financial Conditions: Stylized Facts from Greek Exporters -- 3. Why a revival of Greek manufacturing is a prerequisite to ensure a prosperous future for the country...