Download Monetary Policy and the German Unemployment Problem in by Jan Gottschalk PDF

By Jan Gottschalk

Having the excessive unemployment in Germany in brain, this booklet discusses how macroeconomic concept has developed over the last 40 years. It indicates that during fresh years a convergence has taken position, with glossy versions embodying a Keynesian transmission mechanism, monetarist coverage implication, and modeling recommendations encouraged through new classical economics and actual company cycle thought. It additionally probes within which course versions will be prolonged from the following. Empirically, the ebook makes use of diversified econometric thoughts to enquire the relevance and implications of alternative macroeconomic theories for German info. A key query this publication investigates is the position of call for and provide part stipulations for the rise within the German unemployment cost. On a coverage point, the publication relates the results of the various theories to the continuing debate at the acceptable roles of call for and provide part rules for curing the German unemployment problem.

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