The dissertation includes four studies broadly connected to the causes and consequences of the Global Financial Crisis of 2007-8 from a political economy perspective. Following the intro-duction, Chapter 2 analyzes the political roots of massive foreign reserves accumulation, which has...

In this striking new book it is argued that the outraged attitudes of neoliberals and many of those who work in financial institutions with regard to the size of public deficits are far from being genuine and merely mask a desire to dismantle social programs and reduce the size of government.The...

The economic literature started to recognize the heterogeneity characterizing the nature of different technologies, introducing the concept of General Purpose Technologies. In this paper, we offer a new view of General Purpose Technologies, building on the historical as well as on the recent...

We consider a multi-sector overlapping generations model with imperfectly competitive firms in the output markets and wage setting trade unions in the labour markets. A coordination problem between firms creates multiple temporary equilibria which are either Walrasian or of the Keynesian...

We extend the Carlstrom and Fuerst (1997) agency cost model of business cycles by including time varying uncertainty in the technology shocks that affect capital production. We first demonstrate that standard linearization methods can be used to solve the model yet second moment effects still...

This paper considers a prototypical monetary business cycle model for the U.S. economy, in which the equilibrium is undetermined if monetary policy is ‘inactive? In previous multivariate studies it has been common practice to restrict parameter estimates to values for which the equilibrium is...

This paper reexamines the role of open market operations for short-run effects of monetary policy. Money demand is induced by a cash constraint, while the central bank supplies money exclusively in exchange for securities, discounted with a short-run nominal interest rate. We consider a legal...

This paper develops a business cycle model with a financial intermediation sector. Financial wealth is defined as a predetermined state variable. Both, the additional sector of financial intermediaries and predetermination of financial wealth, affect the demand for real financial wealth. If real...

Inhaltsverzeichnis 0. Vorbemerkungen 1. Einleitende Bemerkungen zu den Begriffen "Konjunktur" und "Konjunktur- bzw. Wachstumszyklen" 1.1 Klassische Konjunkturzyklen (Business cycles) und deren Wendepunkte 1.2 Wachstumszyklen (Growth cycles) und deren Wendepunkte 1.3 Exkurs zur Trendbereinigung...