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Conventional wisdom suggests that nominal, demand-side shocks have only temporary effects on real macroeconomic magnitudes and that the duration of their effects depends on the degree of nominal inertia. It is also argued that, in the absence of unit roots, temporary supply-side shocks also have...
Persistent link: https://www.econbiz.de/10010293971
In the current slowdown in Europe, the United States and Japan, policy makers are vexed by the question when a recovery will come. This is the wrong question. The issue should be how a higher growth path can be reached in the long run, i.e., how the potential growth rate of our economies can be...
Persistent link: https://www.econbiz.de/10010295173
Die Bekämpfung der Arbeitslosigkeit genießt oberste wirtschaftspolitische Priorität - dieser Feststellung wird kaum jemand widersprechen wollen. Eher scheiden sich die Geister an der Frage nach dem \wirklichen" quantitativen Ausmaß der Unterbeschäftigung, ihren Ursachen und welche...
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From 1983 to 1996, the Australian trade union movement led an integrated industrial relations reform agenda aimed at restructuring work organisation, the training system and union structures. These reforms are the basis for the claim that Australia hasdeliberately, successfully and permanently...
Persistent link: https://www.econbiz.de/10010304099
[Introduction] Germany currently finds itself in a difficult economic situation, one characterised not only by a long period of weak economic growth, but also by developments that, if the necessary adjustment processes are not accomplished, pose a threat to Germany's medium-term growth...
Persistent link: https://www.econbiz.de/10010324217
Nach der Finanzmarktkrise geriet die angebotsorientierte Wirtschaftspolitik vorübergehend in die Defensive. Mittlerweile hat sich in Deutschland erneut das Paradigma einer "wachstumsorientierten Austeritätspolitik" als Leitlinie zur Überwindung von Krisen durchgesetzt. Dieser Beitrag zeichnet...
Persistent link: https://www.econbiz.de/10011956002
The stagnation of the economy in the Euro area since 2000 is closely connected to the dominance of purely long-run supply-side oriented policies in the Euro area. While exports and profits soared, domestic demand has been weak. The neglect of cyclical and demand factors appears to be the major...
Persistent link: https://www.econbiz.de/10011435181
Die durch die Bekämpfung der Corona-Epidemie verursachte Dämmung des gesellschaftlichen und wirtschaftlichen Lebens wird erhebliche wirtschaftliche Konsequenzen haben. Wichtige Be-reiche der Industrie und der Dienstleistungen sind ganz oder teilweise heruntergefahren wor-den. Eine...
Persistent link: https://www.econbiz.de/10012201848