Strengthening potential output is high on the agenda for economic policy in the European Union. While there is widespread agreement that structural policies have a positive impact on long-term growth, there is a controversial discussion whether coordination of macroeconomic policies can...

We incorporate a wage bargaining structure in a dynamic general equilibrium model and show how this feature changes short and long-run properties of equilibria compared with a perfectly competitive setting. We discuss how employment, capital, and income shares respond to wage setting shocks and...

Theoretische und empirische Hinweise deuten darauf hin, dass die Umsetzung eines keynesianischen Wirtschaftskonzepts Wachstum und Beschäftigung über eine Koordinierung der Geld-, Lohn- und Fiskalpolitik nennenswert steigern kann. Mit dem vorliegenden Text wird geprüft, inwieweit das...

Based on a post-Keynesian model of the relationship between wages, prices and employment, this paper begins by studying the extent to which unit labour cost trends have been responsible for disinflation and deflationary tendencies in Germany and Europe. Thereafter, the reasons for the...

The paper questions the predominant view on unemployment and wages in the European Union according to which high unemployment is primarily caused by labour market rigidities, i.e. social institutions and regulations which prevent ?market-clearing? real wage levels and structures. It is shown...

Considering the degree of political and economic integration in Europe, trade unions can no longer stick to purely national strategies. Since the 1980s the key political projects of European integration have played a major role to force the neoliberal reorganisation of European capitalism...

Gewerkschaften und Arbeitgeberverbände spielen in Deutschland nicht nur bei der Lohnfindung, sondern auch in sozialpolitischen und arbeitsrechtlichen Fragen eine wichtige Rolle. Während die Mehrheit der Firmen in Arbeitgeberverbänden organisiert ist, sind weniger als ein Viertel der...

We argue that in labor markets with central wage bargaining wage flexibility varies systematically across the wage distribution: local wage flexibility is more relevant for the upper part of the wage distribution, and flexibility of wages negotiated under central wage bargaining affects the...

In this paper we estimate the employment effects of a reduction in weekly normal hours in West German manufacturing on the basis of an econometric models using industry panel data. We distinguish between unskilled, skilled and high-skilled workers and show that labor demand elasticities with...