Die Lohnlücke - die Abweichung des tatsächlichen vom vollbeschäftigungsgerechten Reallohn - wird auf der Grundlage der neoklassischen Produktionstheorie abgeleitet. Anschließend wird ein Konzept entwickelt, mit dem die Verknüpfung der Lohnlücke mit der Beschäftigungsentwicklung empirisch...

Europäische Währungsunion am Scheideweg - Die Europäische Währungsunion (EWU) steht 13 Jahre nach ihrer Gründung vor den größten Herausforderungen ihrer Geschichte. Hohe Arbeitslosigkeit in mehreren Mitgliedsländern, massiver Konsolidierungsbedarf in vielen Staatshaushalten und in...

The European Union at the crossroads - Thirteen years after its foundation, the European Monetary Union (EMU) is facing the greatest challenge of its history thus far. High unemployment in a number of member countries, the need for substantial consolidation of the budgets of numerous...

We are looking back to one of the most severe financial crises ever. The subprime crisis, as future generations may call it, was not just a crisis among others, but had a truly global dimension. There are still doubts whether the flames are really out, but in any case the recent crisis has...

The new German federal government has stipulated a price barrier as a response to the seeming „rent explosion“ in German residential markets. Contrary to this perception, we find that inflation-adjusted rents net of heating are even lower today than twenty years ago. Furthermore, our...

Deflation is said to dampen aggregate demand because consumers would defer purchases while waiting for prices to fall further in the future. We explore the validity of this reasoning at the level of individual goods. Our findings suggest that the widespread concerns about impaired aggregate...