The literature on unemployment has mostly focused on labor market issues while the impact of capital formation is largely neglected. Job-creation is often thought to be a matter of encouraging more employment on a given capital stock. In contrast, this paper explicitly deals with the long-run...

Die Schere zwischen Arm und Reich öffnet sich immer stärker. Verschiedene Disziplinen bieten oft unabhängig voneinander unterschiedliche Erklärungen und berücksichtigen die Interdependenzen zu wenig. Die demografi sche Entwicklung spielt bei der langfristigen Betrachtung der...

In France and in Germany, the labour share income has recorded during the last thirty years some strong fluctuations. Those fluctuations could be linked to movements in price wedge and in interest rate and to increasing unemployment rate. After a theoretical examination of labour share income...

Mit der Corona-Krise nimmt die Arbeitslosigkeit trotz aller Gegenmaßnahmen in Deutschland zu. In früheren Rezessionen hat sich gerade die Arbeitslosigkeit Geringqualifizierter verfestigt. Heute zeichnet sich ab, dass der technologische Wandel gerade auch mittlere Qualifikationen betrifft. Um...

Germany's recent export successes and the fast recovery from the 2007 -2009 crisis made it Europe's "economic superstar" in public opinion. This paper interprets the German performance against the background of financialisation. After an examination of the pre-crisis demand and growth regime,...

This study on Germany examines the long-run changes between the financial and the non-financial sectors of the economy, and in particular the effects of these changes on the macroeconomic developments that have led or contributed to the financial crisis starting in 2007 and the Great Recession...

The German debt brake is often regarded as a great success story, and has therefore served as a role model for the Euro area and its fiscal compact. In this paper we fundamentally criticize the debt brake. We show that (1) it suffers from serious shortcomings, and its success is far from certain...

In dem Aufsatz wird der Zusammenhang zwischen funktionaler Einkommensverteilung und Wirtschaftswachstum in Österreich, Frankreich, Deutschland, den Niederlanden, Großbritannien und den USA für den Zeitraum von 1960 bis 2005 untersucht. In Anlehnung an Bhaduri/Marglin (1990) legt die Analyse...

We 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 wage-led...

Empirical research based on the Bhaduri/Marglin-variant of the Kaleckian model has recently shown that aggregate demand in many medium-sized and large open economies tends to be wage-led in the medium to long run, even in a period of increasing globalisation. In this paper we extend this type of...