The Italian jobs crisis consists of a high percentage of non-working labour force, matched with a high percentage of discouraged, long-term unemployed and inactive population. Not only a sharp deregulation of the job market is groundless, but even a hypothetic return to expansionary fiscal...

Im folgenden Beitrag wird die Dynamik von Marktprozessen in der deutschen Automobilindustrie mit Hilfe von Regelkreismodellen und Zeitreihenanalysen sichtbar gemacht und quantifiziert. Dargestellt werden der Markträumungs-, der Renditenormalisierungs-, der Übermachterosions-, der...

This paper uses panel cointegration and error correction models to unveil the direction of long-run causality between the real product wage and labor productivity at the industry level. I use two datasets of manufacturing industries: the EU-Klems dataset covering 11 industries in 19 developed...

What accounts for the growth of US top income inequality? This paper proposes a hierarchical redistribution hypothesis. The idea is that US firms have systematically redistributed income to the top of the corporate hierarchy. I test this hypothesis using a large scale hierarchy model of the US...

This paper offers a new approach to the study of capitalist income. Building on the "capital as power" framework, I propose that capitalists earn their income not from any productive asset, but from the legal right to command a corporate hierarchy. In short, I hypothesize that capitalist income...

In this paper we analyze Minskian dynamics in the US economy via an empirical application of Minsky's financing regime classifications to a panel of nonfinancial corporations. First, we map Minsky's definitions of hedge, speculative and Ponzi finance onto firm-level data to describe the...

In this article we test the relationship between per capita income differential and exchange rate differential between two different economic background countries. Recent researches have been done on the testing of international Fisher effect, Interest rate, GDP growth rate and purchasing power...

Tests of statistical significance are routinely used in many research studies. However, there are critics of this paradigm, and also a lingering sense that critical test levels are somewhat arbitrary. This paper adds to the literature by determining the timing and level of acceptance of common...