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Electoral support for social democracy in Western Europe is in free fall. The implosion of social democracy is largely self- inflicted, because 'Third Way' social democracy alienated its traditional supporters by (a) a deliberate move to the non- reformist, status-quo oriented macroeconomics of...
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Dieser Aufsatz untersucht die Hypothese, dass der Grad an Arbeitsmarkthysterese in Folge einer Rezession von der Reaktion der Geldpolitik abhängt. Der Hysteresegrad wird in der empirischen Untersuchung durch die geldpolitische Reaktion und Standardvariablen für Arbeitsmarktinstitutionen in...
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important source of uncertainty is the relationship between inflation and unemployment. This paper studies the optimal monetary … policy in the presence of uncertainty about the natural unemployment rate, the short-run inflation-unemployment tradeoff and …
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