Macroeconomics
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A New Era of Endless Labor Shortages? A Critical Analysis of McKinsey's New Report
Jul 15, 2024
The McKinsey report’s highlighting of an extremely high job vacancy ratio in recent years does not reflect the true state of the U.S. labor market.
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The Fed’s “Chicken Run”: Why Sticking with High Rates Will Crash the Economy
Jun 24, 2024
In persisting with its high rates policy, the Fed is acting like James Dean in the famous “chicken run” auto race in Rebel Without a Cause.
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Winning Back the People: The Berlin Summit
ConferenceMay 27–29, 2024
In the global super election year of 2024, populists are threatening to experience a new upswing almost everywhere – whether in the USA, the EU or in East Germany. What makes so many citizens so dissatisfied? What could help win people back and restore their trust in liberal democracy?
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The Second Coming? Trump vs. Biden
May 17, 2024
How have the macroeconomic problems in the US blinded many participants and observers to the actual state of the American economy as the election approaches?
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Working Paper
Trump versus Biden: The Macroeconomics of the Second Coming
May 2024
The current paper returns to the key questions of wages and incomes and how wealth effects cripple reliance on interest rates to control inflation.
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Bernanke and Blanchard’s Obsession with the Wage-Price Spiral
Apr 8, 2024
Bernanke and Blanchard have made another failed attempt to salvage establishment macroeconomics after the massive onslaught of adverse inflationary circumstances with which it could evidently not contend.
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Working Paper
Tilting at Windmills: Bernanke and Blanchard’s Obsession with the Wage-Price Spiral
Apr 2024
How convincing is the model analysis by Bernanke and Blanchard? How empirically relevant are their mechanisms causing inflation – and how robust and plausible are their econometric findings?
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Europe's New Fiscal Rules Harm Working People and Women, Boost Right-Wing Radicals
Apr 5, 2024
Behind bogus promises of job creation and economic growth lies a dangerous agenda to shred social safety nets.
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The European Union’s New Risk-Based Framework for Fiscal Rules – Overly Complex, Opaque and Self-Defeating
Mar 22, 2024
The discrepancy between technocratic rhetoric and economic facts is colossal.
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Inflation and Power
Feb 12, 2024
It was a mistake to accept a ‘reference price’-determination process for basic commodities led by finance
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Monetary Policy, Illiquidity, and the Inflation Debates
Jan 29, 2024
The key issue is the regulation of the liquidity of all financial markets, and not just that of the banking system
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Working Paper
Monetary Policy and Illiquidity
Jan 2024
It is not just all about banking system liquidity
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Working Paper
Bagehot’s Classical Money View: A Reconstruction
Jan 2024
Read in the context of his time, Bagehot’s book Lombard Street appears as an attempt above all to reveal the dynamic of globalization when global money was sterling.
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Unhappy New Year: How Austerity is Making a Comeback in Berlin and Brussels
Jan 4, 2024
Germany’s debt brake and EU fiscal rules will make it well neigh impossible for EU countries to fund the investments needed to decarbonize their economies.
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Theories of Economic Crises
Oct 24, 2023
The theoretical approaches to analyzing crises have behind them contrasting conceptions of the way the economy works