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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 - 2002

It is by now widely accepted that the structural characteristics of the countries to become the euro area did not adhere to the conditions of an optimum currency area (OCA) when the euro was introduced in 1999. However, the satisfaction of OCA criteria may not be required for a workable currency...

Persistent link: https://www.econbiz.de/10010306765

What ever happened to Germany? Is the decline of the former European key currency country caused by structural sclerosis or macroeconomic mismanagement?

Hein, Eckhard; Truger, Achim - 2004

This paper challenges the institutional sclerosis view of the German crisis according to which rigid labour markets and generous welfare state institutions have driven Germany into its position as "Europe's sick man". In general, the view is not convincing, because the underlying hypotheses...

Persistent link: https://www.econbiz.de/10010323046

Distribution and growth in France and Germany - single equation estimations and model simulations based on the Bhaduri/Marglin-model

Hein, Eckhard; Vogel, Lena - 2007

The authors analyse the relationship between functional income distribution and economic growth in France and Germany from 1960 until 2005. The analysis is based on a demand-driven distribution and growth model for an open economy inspired by Bhaduri/Marglin (1990), which allows for profit- or...

Persistent link: https://www.econbiz.de/10010460446

Interest, debt and capital accumulation - a Kaleckian approach ; paper presented at the conference "Understanding Economic Growth: New Directions in Theory and Policy", Downing Col...

Hein, Eckhard - 2005

In the present paper we explicitly introduce interest payments and debt into a Kaleckian distribution and growth model with an investment function very close to Kalecki's original writings. The effects of interest rate variations on the short-run equilibrium values of capacity utilisation,...

Persistent link: https://www.econbiz.de/10003744524

On the (in-)stability and the endogeneity of the "normal" rate of capacity utilisation in a post-Keynesian/Kaleckian "monetary" distribution and growth model

Hein, Eckhard - 2006

In Kaleckian models of distribution and growth the equilibrium rate of capacity utilisation may persistently diverge from the "normal rate" of utilisation. We assess this problem following the approach by Dumenil/Levy (1999) who consider the "normal rate" of utilisation in a monetary production...

Persistent link: https://www.econbiz.de/10003744529

Germany's post-2000 stagnation in the European context - a lesson in macroeconomic mismanagement

Hein, Eckhard; Truger, Achim - 2006

In the present paper we question the mainstream diagnosis of Germany's post-2000 stagnation as well as the prescribed remedies. We show that the "institutional sclerosis" view of Germany's stagnation is unfounded and that therefore the political measures proposed and actually taken are...

Persistent link: https://www.econbiz.de/10003744530

Distribution and growth reconsidered - empirical results for Austria, France, Germany, the Netherlands, the UK and the USA

Hein, Eckhard; Dräger, Lena - 2007

In dem Aufsatz wird der Zusammenhang zwischen funktionaler Einkommensverteilung und Wirtschaftswachstum in Österreich …

Persistent link: https://www.econbiz.de/10003744536

Distribution and growth in France and Germany : single equation estimations and model simulations based on the Bhaduri/Marglin-model

Hein, Eckhard; Dräger, Lena - 2007

In dem Aufsatz wird der Zusammenhang zwischen funktionaler Einkommensverteilung und Wirtschaftswachstum in Frankreich … das Wirtschaftswachstum zu ermitteln. Da in diesem Ansatz jedoch Wechselwirkungen zwischen den Nachfrageaggregaten … ab. Während in den Einzelgleichungsschätzungen das Wirtschaftswachstum in Deutschland stärker lohngetrieben als in …

Persistent link: https://www.econbiz.de/10003744537

"Financialisation" in post-Keynesian models of distribution and growth : a systematic review

Hein, Eckhard; Treeck, Till van - 2008

We review recent attempts to integrate 'financialisation' processes into Post-Keynesian distribution and growth models and distinguish three principal channels of influence: 1. objectives and finance restrictions of firms, 2. new opportunities for households' wealth-based and debt-financed...

Persistent link: https://www.econbiz.de/10003744547

Financialisation in a comparative static, stock flow consistent post-Kaleckian distribution and growth model

Hein, Eckhard - 2008

Into an analytical stock-flow consistent Post-Kaleckian distribution and growth model the following transmission channels of 'financialisaton' are integrated. 1. 'Financialisation' is assumed to affect distribution between firms and rentiers in the short run, and distribution between capital and...

Persistent link: https://www.econbiz.de/10003836933