Für die Funktionsfähigkeit der Europäischen Währungsunion ist eine große Flexibilität der Arbeitsmärkte erforderlich. Wird die Einführung des Euro die notwendige Flexibilisierung erzwingen? Oder wird es statt dessen zu einer raschen Harmonisierung der Löhne und Sozialstandards auf hohem...

Im Frühjahr 1998 wird höchstwahrscheinlich die Europäische Zentralbank (EZB) errichtet. Ab 1. Januar 1999 bestimmt dann der EZB-Rat die Geldpolitik in den Teilnehmerländern der Europäischen Währungsunion. Dr. Horst Feldmann plädiert dafür, die Mitglieder des EZB-Rats durch eine...

Using data on 20 industrial countries over the period 1982 to 2003, this article finds central bank independence to favorably affect both unemployment and employment rates. The size of these effects appears to be substantial, particularly in the long term. In contrast to some of the previous...

Using annual data on 20 industrial countries over the period from 1972 to 2003, this article analyses the impact of inflation volatility on unemployment. It finds that higher volatility over the previous 10 years is associated with a higher unemployment rate in the current year. The effect...

Purpose – This paper aims to analyze how financial system turmoil affected unemployment in industrial countries during the period 1982 to 2003. Design/methodology/approach – The paper uses annual data on 17 industrial countries. It employs the International Monetary Fund's financial stress...

"Using a panel of 91 countries, this paper econometrically analyzes how different economic freedoms affect employment and unemployment. There are four main findings. Firstly, a small government sector and a legal system characterized by an independent judiciary, impartial courts and an effective...

Using data on 20 industrial countries for the period 1982 to 2003, this article finds that more active stock markets are likely to lower the unemployment rate. The magnitude of the effect appears to be modest but noticeable. We control for both endogeneity of stock market activity and all major...