DeutschAcademic Work
My academic interest has
focused around monetary policy,
macroeconomics, exchange rate regimes and European monetary
integration. Most recently, I have worked extensively on the
financial crisis and policies to battle its consequences.
On this page, you find a list of my academic publications, divided by
type of publication. There are sections for refereed
articles,
monographs, other
articles and contributions
and academic
book reviews.
Further down, you find a section with unpublished
working papers
and information on current
projects. Note that contributions in daily, weekly or monthly
news media are not listed here.
Refereed Articles
The New Consensus from a Traditional Keynesian and a Post-Keynesian Perspective: A worthwhile foundation for research or just a waste of time?, Économie Appliquée, Volume LXIV, No. 1, pp. 173-200, 2011.
Die Zukunft der Eurozone nach der Griechenland-Hilfe und dem Euro-Schutzschirm, Leviathan, Vol. 38 (4), S. 509-532, 2010 (with Daniela Schwarzer). [The future of the euro area after the rescue package for greece and the EFSF]
Fiskalpolitik im Euroraum: Reformbedarf und Reformoptionen, WSI-Mitteilungen, 62 (2009), 9, pp. 498 – 504 (with Daniela Schwarzer).
Divergences in EMU: Scope of the problem and policy options, Intervention. European Journal of Economics and Economic Policies, Vol. 6 (1), pp. 24-32, 2009.
How Bad is Divergence in the euro zone? Lessons from the United States and Germany, in: Journal of Post Keynesian Economics, Vol. 31 (3), pp. 431-457, 2009 (with Ulrich Fritsche).
Bringing Macroeconomics into the EU Budget Debate: Why and How?, in: Journal of Common Market Studies, Vol. 47 (1), 2009, pp. 153-174 (with Daniela Schwarzer).
Does the Dispersion of Unit Labor Cost in the EMU imply long-run Convergence in: International Economics and Economic Policy, Vol. 5 (3), 2008, pp. 269-295 (with Ulrich Fritsche).
Who is Afraid of Asian FX Interventions? Lessons for Europe from a Three-asset-portfolio Model, in: Intervention. European Journal of Economics and Economic Policies, Vol. 5 (2), 2008, pp. 387- 405.
Anhaltende Divergenz bei Inflations- und Lohnentwicklung in der Eurozone: Gefahr für die Währungsunion?, Vierteljahrshefte zur Wirtschaftsforschung, 76 (2007), 4, pp. 56–76 (with Ulrich Fritsche). [Inflation and wage divergence in EMU: A Danger for the monetary union?]
Rethinking the Role of Monetary Policy and Wage Bargaining in a World Without the Real Balance Effect, in: Intervention. Zeitschrift für Ökonomie, Vol. 3, No. 2, 2006, pp. 279-304.
A question of Survival? Curbing regional divergences in the eurozone, Review of Economic Conditions in Italy, No. 1/2006 (with Daniela Schwarzer).
Una questione di sopravvivenza? Il problema delle divergenze regionali nell’area dell’euro, in: Economia Italiana, Nr. 1, 2006, pp. 69-90 (with Daniela Schwarzer).
Is Small Really Beautiful? Explaining Different Unemployment Performances Within EMU, in: European Political Economy Review, Vol. 1, No. 2, Autumn 2003, pp. 126-151. Download from EPER
Monographs
Decent Capitalism: A blueprint for reforming our economies, London, 2011 (with Hansjörg Herr und Christian Kellermann).
The Financial and Economic Crisis of 2008-2009 and developing countries, United Nations, Genf, 2010 (edited with Detlef Kotte, Alejandro Marquez und Jan Priewe).
The World Economy in Crisis – The Return of Keynesianism?, Metropolis: Marburg, 2010 (edite jointly with Eckhard Hein, Achim Truger, Till van Treeck).
Der gute Kapitalismus ... und was sich dafür nach der Krise ändern müsste, Transcript, 2009 (with Hansjörg Herr und Christian Kellermann).
The Interaction of Monetary Policy and Wage Bargaining in the European
Monetary Union – Lessons from the Endogenous Money Approach,
Macmillan Palgrave, Houndsmill et al., 2004. Palgrave
Website
Auswirkungen
der Europäischen
Währungsunion auf die
deutsche Wirtschaft,
DIW-Sonderheft 167, Duncker & Humblot,
Berlin, 1999. (with Gustav-Adolf Horn.) [Consequneces of EMU on the
German Economy]
Other articles, contributions and studies
Dealing with Debt Crises in the Eurozone. Evaluation and Limits of the European Stability Mechanism, SWP Research Paper 11/2011, Stiftung Wissenschaft und Politik, Berlin.
Die deutsche Investitionsschwäche: Die Mär der Standortprobleme, Wirtschaftsdienst, 91. Jahrgang, Heft 7, pp. 458-464 (with Mark Schieritz) [The weakness in German investment: The tale of competitiveness problems].
Making Macroeconomic Stabilization Work: Lessons from the Crisis for the EU Budget Debate, in: Begg, Iain, Ansgar Belke, Daniela Schwarzer and Ramūnas Vilpišauskas, “European Economic Governance – Impulses for Crisis Prevention and New Institutions”, Europe in Dialogue 2011/12, Bertelsmann Stiftung, Gütersloh, 2011, pp. 93-118 (with Daniela Schwarzer)
European Economic Governance – Impulses for Crisis Prevention and New Institutions, Europe in Dialogue 2011/12, Bertelsmann Stiftung, Gütersloh, 2011 (with Iain Begg, Ansgar Belke, Daniela Schwarzer and Ramūnas Vilpišauskas).
Commentary on Guy Verhofststadt, Europe’s World, Summer 2011, No. 18, pp. 49-53.
We’re nowhere near any risk of hyperinflation, The International Economy, Volume XXV, No. 2, 2011, p. 19.
Der Staat bezahlt die Krisenzeche, Friedrich-Ebert-Stiftung, Bonn, 2011 (with Christiane von Hardenberg). [The government pays for the crisis.]
Euro-Steuern gegen Ungleichgewichte im Währungsraum, Wirtschaftsdienst, 91. Jahrgang, Heft 2, 2011, S. 86-89.[A European Tax against imbalances in the euro area]
Ungleichgewichte im Euro-Raum : akuter Handlungsbedarf auch für Deutschland, Friedrich-Ebert-Stiftung, Bonn, 2010. [Imbalances in the euro-area: Time to act - also for Germany]
Introduction, in: Dullien, S., Kotte, D., Marquez, A. and J. Priewe (eds.), „The Financial and Economic Crisis of 2008-2009 and developing countries“, United Nations, Genf, 2010, S. 1-16 (with Detlef Kotte, Alejandro Marquez und Jan Priewe).
Risk Factors in International Financial Crises: Early Lessons from the 2008-2009 Turmoil, in: Dullien, S., Kotte, D., Marquez, A. and J. Priewe (eds.), „The Financial and Economic Crisis of 2008-2009 and developing countries“, United Nations, Genf, 2010, S. 99-116.
Fehlgeleitete Stabilitätspakt-Debatte, WSI-Mitteilungen, 12/ 2010, S. 610. [Mislead debate on the stability and growth pact]
Macroeconomic theory and macroeconomic pedagogy – A review of the book edited by Giuseppe Fontana and Mark Setterfield, in: Intervention. European Journal of Economics and Economic Policies, Vol. 7 (2), S. 266-271.
Die globale Finanzordnung nach der Krise aus deutscher und europäischer Sicht, Koreanische Zeitschrift für Wirtschaftswissenschaften, Vol. 28, No. 3, 2010, S. 117-132. [The global financial order after the crisis from a German and European perspective]
Arbeit – Innovation – Umwelt, in: Friedrich-Ebert-Stiftung (Hrs.), Werkstatt Soziale Demokratie, S. 44-48, Bonn, 2010. [Work, innovation and the environment]
Finanzkrise kostet jeden Deutschen im Schnitt mehr als 9000 Euro, Wiso Direkt, Oktober 2010, Friedrich-Ebert-Stiftung Bonn. [The financial crisis costs each German on average 9000 euro]
Der Weg zu einer sozialdemokratischen Wirtschaftspolitik, Neue Gesellschaft/Frankfurter Hefte 9/2010, S. 40-42. [The path towards a new social democratic economic policy stance]
Umgang
mit Staatsbankrotten in der Eurozone: Stabilisierungsfonds,
Insolvenzrecht für Staaten und Eurobonds,
SWP-Studie 2010/S 19, Juli 2010, ISSN 1611-6372, pp. 1-37
(with
Daniela Schwarzer). [How to deal with sovereign defaults in the euro
area: Stabilization fonds, sovereign debt restructuring and euro bonds]
Euro,
stabilità esterna e debito privato, in: Andrew
Watt, Andreas
Botsch und Roberto Calini (Hrsg), Dopo la crisi, Edizioni
dell’Asino,
Rom, ISBN 978-88-6357-050-2, 2010, pp. 79-84. [The euro, external
stability and private debt]
Integração
productiva na Uniãno Europeia: uma perspectiva
alemã, in: Agência
Brasileira de Desenvolvimento Industrial,
“Integração Productiva:
Caminhos para o Mercosul”, Brasilia, ISBN 978-85-61323-18-9,
2010, pp.
156-219. [Productive Integration in the European Union: A German
perspective]
Länder-Fact-Sheet:
Deutschland, in: Christoph Pohlmann, Stephan Reichert und
Hubert René Schillinger (Hrsg.), Die G-20 : auf dem Weg zu
einer „Weltwirtschaftsregierung"?, Bonn, 2010, ISBN
978-3-86872-357-1, pp. 27-29.
Country Fact Sheet:
Germany, in: Christoph Pohlmann, Stephan Reichert und
Hubert René Schillinger (Hrsg.), The G-20 : a "global
economic government" in the making?, Bonn, 2010, ISBN
978-3-86872-358-8, pp. 31-33.
Von der Griechenlandkrise
zum Euro-Kollaps?, in: Blätter für
deutsche und internationale Politik 6/2010, ISSN 0006-4416, pp. 9-12.
[From the Greek crisis to a collapse of the euro?]
Was die Staatsschulden
mit Sozialtransfers zu tun haben, Steuerberater Magazin
04/2010, ISSN 1862-5894, pp. 40-41. [The link between government debt
and social transfers]
Guter Kapitalismus?,
Luxemburg. Gesellschaftsanalyse und linke Praxis, 02/2010, ISSN
1869-0424, pp. 18-27 (with Hansjörg Herr and Christian
Kellermann). [Good Capitalism?]
Geht
‚guter Kapitalismus‘?, Zeitschrift
für sozialistische Politik
und Wirtschaft, Heft 177, pp. 27-32, 2010, ISSN 0170-4613 (with
Hansjörg
Herr and Christian Kellermann). [Is 'good capitalism' possible?]
Erlahmender
Reformenthusiasmus, in: Wirtschaftsdienst, 90. Jahrgang,
Heft 2, Februar 2010, pp. 75-79, ISSN 0043-6275. [Waning reform drive]
Die
EU-Finanzmarktreform: Stand und Perspektiven im Frühjahr 2010,
Friedrich-Ebert-Stiftung Bonn, 16 pages, ISBN 978-3-86872-312-0 (with
Hansjörg Herr).
EU financial market
reform : status and
prospects, spring 2010, Friedrich-Ebert-Stiftung, Berlin,
16 pages,
ISBN 978-3-86872-341-0 (with Hansjörg Herr).
Good
Capitalism …and what would need to change for that,
in: Social
Europe, Winter 2009/10, Vol. 4, Issue 4, S. 26-34, ISSN 0255-0776 (with
Hansjörg Herr and Christian Kellermann).
Der
‘gute Kapitalismus’ als Projekt 2013,
in: Neue
Gesellschaft/Frankfurter Hefte, Nr. 1-2/2010, S. 23-27, ISSN 0177-6738
(with Hansjörg Herr and Christian Kellermann). ['Good
Capitalism as project 2013]
Towards a
Sustainable Growth Model for Europe: Institutional
Framework, in:
Internationale Politik und Gesellschaft, 1/2010, S. 36-44, ISSN
0945-2419.
The EMU needs a stability
pact for intra-regional
current-account imbalances, in: Andrew Watt und Andreas
Botsch
(Hrsg.), After the Crisis: Towards a sustainable growth model,
Brüssel,
S. 135-138, ISBN 978-2-87452-170-6, 2010 (with Daniela Schwarzer).
Good Capitalism, in: International Policy Analysis, Friedrich-Ebert-Stiftung Bonn, 12 pages, Oktober 2009 (with Hansjörg Herr and Christian Kellermann).
Der gute Kapitalismus, in: Internationale Politikanalysen, Friedrich-Ebert-Stiftung Bonn, 12 pages, September 2009 (with Hansjörg Herr and Christian Kellermann).
Gefährliche Angst vor der Inflation [Dangerous fear of inflation], Wirtschaftsdienst 8/2009, pp. 507-510.
Ein neuer Stabilitätspakt für die Europäische Währungsunion [A new Stability Pact for EMU], SWP-Aktuell 21, 2009 (with Daniela Schwarzer).
The Euro Zone Needs an External Stability Pact, SWP Comments 2009/C 09, July 2009 (with Daniela Schwarzer).
Wer hat Angst vor der People’s Bank of China? Folgen der chinesischen Devisenmarktinterventionen für Europa und China [Who is afraid of the PBOC? Consequences of Chinese FX interventions for Europe and China], in: Jürgen Kromphardt und Heinz-Peter Spahn (Hg.): Die aktuelle Währungsunordnung: Analysen und Reformvorschläge, Schriften der Keynes-Gesellschaft, Band 2, pp. 51-74, 2009.
Wirtschaftspolitische Berichterstattung in Deutschland – ein Fall von Marktversagen, in: Harald Hagemann, Gustav Horn, Hans-Jürgen Krupp (Hg.): Aus gesamtwirtschaftlicher Sicht - Festschrift für Jürgen Kromphardt, Schriften der Keynes-Gesellschaft, Band 1, 2008, pp. 225-244.
EZB verschärft unnötig den Abschwung in: ifo-Schnelldienst 16/2008, pp. 8-11. [ECB aggravates the downturn without need.]
Eine Arbeitslosenversicherung für die Eurozone: Ein Vorschlag zur Stabilisierung divergierender Wirtschaftsentwicklungen in der Europäischen Währungsunion, SWP-Studie 2008/ S01, Berlin. [An unemployment insurance for the euro area: A proposal to stabilize divergent economic developments in EMU] Download
Pensare in grande a piccoli passi. Come colmare il gap tra requisiti economico politici e practica corrente nel bilancio europeo, in: Antonio Villafranca (Hrsg.), Le sfide della governance economica europea, 2007, Bologna, pp. 113-134 (with Daniela Schwarzer).
The Transatlantic Divide: How the United States and Europe Differ in Economic Policy, The International Economy, Vol. XXI (2007), No. 3, pp. 22-25.
Anhaltende Divergenz der Lohnstückkostenentwicklung im Euroraum problematisch, DIW-Wochenbericht 22/2007, pp. 349-357 (with Ulrich Fritsche). [Persistent divergence in unit labour cost developments in EMU are reason for concern]
Who is going to foot the bill? Economic Consequences of a disorderly dollar adjustment for the US,Europe and Asia, in: J. van Scherpenberg and K. Plück (eds.), Sharing the growing economic burden of world order, Stiftung Wissenschaft und Politik, Berlin, 2006, pp. 20-30. Download Manuscript
Over a Barrel no more: Compared to the 1970s, the world economy has taken recent record oil prices in its stride, in: Central Banking, Vol. XVI, No. 3, 2006, p. 57-26 (with Mark Schieritz).
FDI in China:
Trends and
Macroeconomic Challenges, in:
United
Nations
Conference on Trade and Development, China in a Globalizing World,
Geneva, 2005, pp. 125-153. Download
from the Unctad Website
China’s
Spectacular Growth since
the Mid-1990s –
Macroeconomic Conditions and Economic Policy Changes,
in: United
Nations Conference on Trade and Development, China in a Globalizing
World, Geneva, 2005, pp. 1-44 (with Heiner Flassbeck und Michael
Geiger). Download
from the Unctad Website
Eurozone
unter Hochspannung: Die
regionalen Konjunkturzyklen in der
Währungsunion müssen stabilisiert werden,
SWP Aktuell
21, May 2005 (with Daniela Schwarzer). Download
from the SWP Website
In English published as: The
Euro-Zone under High Pressure,
SWP
Comments 22, May 2005. Download
from the SWP Website
Comment
on Albrecht Sommer: China's
Under-Valuation of the Currency,
in: Hölscher, J. and Tomann, H. (Hrsg.), Globalization of
Capital Markets and Monetary Policy, Macmillan Palgrave, 2005.
Chinas
Wechselkursanbindung: Unhaltbar
und eine Bedrohung für
die Weltwirtschaft?, in: WSI
Mitteilungen 8/2004, S. 443-449.
[China's
exchange rate regime: Unsustainable and a threat to the world
economy?] Download
Draft
Währungsregime
in Lateinamerika:
Die jüngsten Krisen
als Bankrotterklärung der orthodoxen Politikempfehlungen,
in:
Bodemer, K., Nolte, D. und Sangmeister, H. (Hrsg.), Lateinamerika
Jahrbuch 2003, Frankfurt, pp. 47-61. [Exchange rate regimes: The latest
crises as a breakdown of orthodox policy recommendations] Download
Draft
Argentina:
The End of a Clever Idea?,
in: Lateinamerika Analysen, Nr.
2, 2002, pp. 109-118. Download
Draft
Gewerkschaften,
Geldpolitik und
Beschäftigung: Warum die EZB
aktiv in einen Beschäftigungspakt eingebunden werden muss,
in:
Heise, Arne (ed.): Neues Geld - Alte Geldpolitik?, Metropolis, Marburg,
2002, pp. 175-197. [Unions, monetary policy and employment:
Why the ECB has to be part of a social pact]
The
Macroeconomics of a Rising Oil
Price: How EMU Governments, Wage
Bargainers and the ECB Should Behave,
in: Scharrer, H.-E. and R.
Caesar
(eds.), European Economic and Monetary Union: An Initial Assessment,
Nomos, Baden-Baden, 2002, pp. 271-296.
Book Reviews
Review of: A failure of capitalism. By R. A. Posner, Journal of Economics, 99 (3), 2010, pages S. 287-289.
Review of: Half a Century of European Financial Integration – By I. Maes, Journal of Common Market Studies 46 (4), 2008, pp. 907-908.
Review of: Can Germany Be Saved? The Malaise of the World's First Welfare State - By H.-W. Sinn, Journal of Common Market Studies 46 (2), 2008, pp. 490–491.
Questioning the European Consensus on Fiscal Policy - Book Review, European Political Economy Review, No. 8 (Spring 2008), pp. 97-100.
Interdisciplinary perspectives
on the EU: three books on the
Political Economy of
integration, in: European Political Economy Review, Vol. 3, Nr. 1, pp.
91-100, 2005 (with Daniela Schwarzer). Download
from the EPER page
Michael Hudson: Super Imperialism. The Origin and Fundamentals of U.S. World Dominance, in Intervention. Zeitschrift für Ökonomie, Vol. 1, Nr. 1, pp. 117-118, 2004.
In addition, I have published a number of journalistic reviews of books on economics and economic policy in German.
Selected Working Papers
The New Consensus from a Traditional Keynesian and Post-Keynesian Perspective”, IMK Working Paper 12/2009, ISSN 1861-2199.
Improving Economic Stability in Europe: What the Euro Area can learn from the United States' Unemployment Insurance SWP Discussion Paper FG 1; 2007/11, August 2007.
Integrating the macro-economic dimension into the EU budget: reasons, instruments and the question of democratic legitimacy (with Daniela Schwarzer), EU-Consent EU Budget Working Paper No.4, June 2007.
Does the Dispersion of Unit Labor Cost Dynamics in the EMU Imply Long-run Divergence? Results from a Comparison with the United States of America and Germany (with Ulrich Fritsche), DIW Discussion Paper No. 674; also published as Working Paper of the Universität Hamburg, Department of Economics and Politics Discussion Papers, Macroeconomics and Finance Series, No. 2/2007.
How Bad is Divergence in the Euro-zone? Lessons from the US States and the German Länder, Universität Hamburg, Department of Economics and Politics Discussion Papers, Macroeconomics and Finance Series, No. 5/2006.
China's
Changing Competitive Position: Lessons from a Unit-Labor-Cost-Based
REER, UNCTAD Background Paper,
2004.
Measuring
China’s Fiscal Policy Stance,
UNCTAD Background
Paper,
2004.