This paper takes a first step in analysing how a monetary union performs in the presence of labour market asymmetries. Differences in wage flexibility, market power and country sizes are allowed for in a setting with both country-specific and aggregate shocks. The implications of asymmetries for...

The ECB has ended its net purchases of bonds. As a result, the ECB will no longer dampen volatility in the euro area bond markets to the same extent. This may lead to greater volatility in the Danish mortgage bond market. In recent years, banks have reduced their market-making capacity in the...

The ECB has ended its net purchases of bonds. As a result, the ECB will no longer dampen volatility in the euro area bond markets to the same extent. This may lead to greater volatility in the Danish mortgage bond market. In recent years, banks have reduced their market-making capacity in the...

Mens moderne mainstream makroteori - ny-klassisk som ny-keynesiansk – begge gør brug af den samme metodologi, giver den post keynesianske tænkning et alternativ hertil. Med sit fokus på 'path dependency' udvikler og forandrer det økonomiske set up sig over tiden. Nye institutioner kommer...