Empirical research based on the Bhaduri/Marglin-variant of the Kaleckian model has recently shown that aggregate demand in many medium-sized and large open economies tends to be wage-led in the medium to long run, even in a period of increasing globalisation. In this paper we extend this type of...

Die Anlage in Aktien spielt in der bankbasierten Ökonomie Deutschlands eine weitaus geringere Rolle als in den marktbasierten USA. Das sich hierin widerspiegelnde anders geartete Risikoverhalten ist nur vor dem Hintergrund unterschiedlicher kultureller Kontexte zu verstehen. Die Deutschen sind...

This research note uses two German data sets the large-scale German Socio-Economic Panel and unique data from own student questionnaires to analyse the relationship between risk aversion and the choice for public sector employment. Main results are: (1) more risk averse individuals sort into...