For our international comparative research on the impact of institutions on economic trends, we put together the Schumpeter School International Comparative Institutions Database.1 The database comprises the panel data set on various indicators of employment, inequality and labor market...

This paper investigates how much of the difference in wage distributions is related to differences in skill distributions and whether a compressed wage distribution is associated with high unemployment across core OECD countries. Some countries that have more compressed (dispersed) wage...

In der letzten Zeit haben die Herausforderungen der chinesischen Wirtschaft zugenommen, unter anderem aufgrund der eskalierenden Handelsspannungen mit den USA und der relativ schwachen Inlandsnachfrage. Dies hat die Regierung dazu veranlasst, möglichst rasch Konjunkturmaßnahmen zur...

Der spanische Ministerpräsident Pedro Sánchez hat am 15. Februar vorgezogene Parlamentswahlen für den 28. April ausgerufen und damit die Regierung in eine neue Krise gestürzt. Ob die Neuwahlen für mehr politische Stabilität sorgen werden, bleibt abzuwarten. Spanien bedarf jedoch einer...

For our international comparative research on the impact of institutions on economic trends, we put together the Schumpeter School International Comparative Institutions Database.1 The database comprises the panel data set on various indicators of employment, inequality and labor market...

This paper investigates how much of the difference in wage distributions is related to differences in skill distributions and whether a compressed wage distribution is associated with high unemployment across core OECD countries. Some countries that have more compressed (dispersed) wage...

This paper investigates whether the 'big tradeoff' between efficiency and inequality exists, and analyzes empirically the relationship between inequality, redistribution, and employment/unemployment. The analysis is based on a cross-country longitudinal data set (panel data) of 21 OECD countries...

The rational expectations hypothesis (REH) is based on two assumptions. The first is that, economic agents learn through experience how to avoid systematic errors. The second is that these errors are identified with reference to a model. Imperfect information may lead economic agents to...

Expansionary macroeconomic policy is ineffective because, according to the policy ineffectiveness hypothesis (PIH), which is based on the rational expectations hypothesis (REH), it does not affect the real economy. This conclusion is false for several reasons. In their critique on Keynes '...