This paper provides a critique of the "unemployment invariance hypothesis," according to which the behavior of the labor market ensures that the long-run unemployment rate is independent of the size of the capital stock, productivity, and the labor...

This article examines some of the major market failures and government failures at work in the modern welfare state and investigates the political reasons for ignoring these failures in formulating welfare state policy. Next, the article examines...

Germany remains Europe's largest and most diversified source of new technology, but still lags in the fastest growing areas of today's high technology. After World War II, West-German technology policy sought to rebuild the institutions which had...

This paper explores the implications of the ongoing reorganization of firms for inequality in the labour market. We show how recent technological advances in physical and human capital can lead to the breakdown of occupational barriers, creating...

Quantitative models for climate policy modeling differ in the production structure used and in the sizes of the elasticities of substitution. The empirical foundation for both is generally lacking. This paper estimates the parameters of two-level CES...

The paper analyzes the contemporary organizational restructuring of production and work within firms. We emphasize the shift from a Tayloristic organization of work (characterized by significant specialization by tasks) to a holistic organization...

The growth rate of total factor productivity seems to have increased recently, at least in the United States. Higher US productivity growth may justify higher stock market valuations than in the past and thus herald an emerging New Economy. However,...

This paper surveys major empirical regularities concerning changes in earnings inequality in Europe and the U.S. over the past 25 years. Next, it indicates which of these regularities can be explained within the competitive demand-supply framework of...

Kiel Policy Brief No. 122: In their paper, the authors warn of a new trend towards autarky under the catchword of "technology sovereignty", which jeopardizes the benefits of globalization.