Recently, the unemployment gap in the euro area has fallen markedly. However, wages increased less than predicted by … alternative measures for labor market slack, namely the unemployment gap and the European Commission's labor shortage indicator …

Post Keynesian theory as opposed to Walrasian theory does not provide the foundations for a unique general equilibrium … participation theory of economic policy based on market constellations may help to bridge the gap between nomocratic policy denial …

This paper is focused on modern monetary theory's (MMT) treatment of inflation from an open-economy perspective. It … vision. However, it also makes use of a stock-flow consistent open-economy model to underline some limits of the theory when … facing an inflation-unemployment trade-off. …

Persistent unemployment after recessions and the policies required to bring it down are the subject of an ongoing … unemployment, requiring the implementation of structural policy reforms. The alternative view is that the slow recovery of the … economy is due to cyclic reasons coming from lack of demand which prevents unemployment from falling quickly. Knowing whether …