While being a necessary consequence of the ongoing and desirable process of international division of labour, the increasing freedom of international money and capital movements has in recent years impaired the efficiency of national economic policy instruments. In order to overcome this...

This conference volume deals with one of the most severe economic, social and political problems major European economies face since the early nineties, the problem of lasting high unemployment. Contrary to the current German discussion, solely concentrating on microeconomic explanations and...