Low-pay work has been increasing in prevalence in many industrial countries. Following standard wage/price-setting theory, this increase should reduce structural unemployment, because labour market flexibility increases and labour costs decrease. However, a Keynesian perspective challenges this...

Low-pay work has been increasing in prevalence in many industrial countries. Following standard wage/price-setting theory, this increase should reduce structural unemployment, because labour market flexibility increases and labour costs decrease. However, a Keynesian perspective challenges this...

This article tests the hypothesis that financial supply-side shifts help to explain the low-investment climate of private firms in Germany. The core contention is that a firm's financial position contributes to its access to external finance on credit markets. Special emphasis is put on small...

This paper attempts to test whether financial supply-side shifts explain the low-investment climate of private firms in Germany. The core contention is that a firm's financial position contributes to its access to external finance on credit markets. Special emphasizes is put on small and...

This paper evaluates the predictive out-of-sample forecasting properties of six different economic uncertainty variables for both growth in aggregate M2 and growth in household-sector M2 in the U.S. using data between 1971m1 and 2014m12. The core contention is that economic uncertainty improves...

The creation of jobs in the low-pay sector is considered to be an approach to reduce unemployment, especially with respect to low-skilled workers. By now, the expansion of the German low-wage sector over the last 15 years is empirically confirmed, which indicates a successful implementation of...