Die Weltwirtschaft ist 2009 zum ersten Mal seit Mitte des vorigen Jahrhunderts nicht gewachsen. Die Wirtschaftsleistung dürfte um 2% zurückgegangen sein, in den Industrieländern um 3,5%. Dies war die Folge der Finanzkrise, sie hat zu einem Einbruch des Welthandels mit Folgen auf alle...

This Policy Brief discusses the growth prospects of the Central and Eastern European (CEEC) region following the current economic crisis. It argues that the 'integration model of growth' of the CEEC region was characterised by a very high degree of external liberalisation. In one group of...

In the German debate on firms' flexibility strategies, one strategy for handling the fluctuation of labour requirements is mainly ignored: the temporary laying off of employees and their subsequent reemployment by the same employer (recalls). This paper focuses on describing the extent of...

This paper presents recent empirical evidence on the extent and determinants of employment dynamics and job mobility, building on economic theory and German labor market institutions. In particular, it identifies dynamic and immobile segments of the labor market. Conclusions are drawn with...

Summary Following standard real business cycle theory, long run economic growth and short run business cycle fluctuations are attributed to a series of productivity shocks propagated by the economic system which is assumed to be in a rational expectations equilibrium. Characterizing the...

Summary This paper applies multivariate linear discriminant analysis to classify West German business cycles from 1955 to 1994 into a four phase scheme (upswing, downswing, and upper/lower turning point phases). It describes the scheme as well as the selection of the classifying variables, and...

Summary New Keynesian economics stresses the positive link between firms’ net worth, on the one hand, and the equilibrium level of credit granted and aggregate employment, on the other hand. The present paper argues that once money is introduced and adaptive inflation expectations are assumed,...