Wages, Employment, Distribution and Growth

1. Front Matter

   Pages i-xi

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2. Introduction

   • Eckhard Hein, Arne Heise, Achim Truger

   Pages 1-8

3. Labour-Market Flexibility and Economic Expansion

   • Amit Bhaduri

   Pages 9-19

4. The Causes of High Unemployment: Labour-Market Sclerosis v. Macroeconomic Policy

   • Thomas I. Palley

   Pages 20-48

5. Is Capital Stock a Determinant of Unemployment?

   • Philip Arestis, Michelle Baddeley, Malcolm Sawyer

   Pages 49-66

6. Deflation Risks in Germany and the EMU: The Role of Wages and Wage Bargaining

   • Eckhard Hein, Thorsten Schulten, Achim Truger

   Pages 67-92

7. The Influence of Unemployment, Productivity and Institutions on Real Wage Trends: The Case of Italy 1970–2000

   • Enrico Sergio Levrero, Antonella Stirati

   Pages 93-116

8. Unequal Fortunes, Unstable Households: Has Rising Inequality Contributed to Economic Troubles for Households in the USA?

   • Heather Boushey, Christian E. Weller

   Pages 117-150

9. The Effects of Economic Liberalization on Income Distribution: A Panel-Data Analysis

   • Gerardo Angeles-Castro

   Pages 151-180

10. Pensions and Distribution in an Ageing Society: A Non-Conventional View

    • Sergio Cesaratto

    Pages 181-205

11. Do Profits Affect Investment and Employment? An Empirical Test Based on the Bhaduri-Marglin Model

    • Özlem Onaran, Engelbert Stockhammer

    Pages 206-222

12. Class Conflict and the Cambridge Theory of Income Distribution

    • Thomas I. Palley

    Pages 223-246

13. The Dynamics of Profit- and Wage-led Expansion: A Note

    • Amit Bhaduri

    Pages 247-253

14. Back Matter

    Pages 255-275

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This volume challenges the view that unemployment is exclusively determined by structural characteristics of the labour market and the social benefit system. Macroeconomic policies and investment in capital stock are included in the analysis and are shown to have a major role to play.

• Deflation
• economic policy
• employment
• growth
• income distribution
• labor market
• labour market
• macroeconomics
• unemployment

• Macroeconomic Policy Institute (IMK), Hans Boeckler Foundation, Duesseldorf, Germany

  Eckhard Hein, Achim Truger

• University of Hamburg, Germany

  Eckhard Hein, Arne Heise

• Carl von Ossietzky University, Oldenburg, Germany

  Eckhard Hein

PHILIP ARESTIS Professor and University Director of Research, Cambridge Centre for Economic and Public Policy, University of Cambridge, UK MICHELLE BADDELEY Deputy Director, Cambridge Centre for Economic and Public Policy, University of Cambridge, UK AMIT BHADURI Professor of Economics, University of Pavia, Italy, and Visiting Professor, Council for Social Development, India HEATHER BOUSHEY Research Economist, Centre for Economic and Policy Research (CEPR), and Research Affiliate, National Poverty Centre, Gerald R. Ford School of Public Policy, USA GERALDO ANGELES-CASTRO PhD Student and Teaching Assistant, Economics Department, University of Kent, UK SERGIO CESARATTO Professor of Economic Policy and Development Economics, University of Siena, Italy ENRICO SERGIO LEVRERO Assistant Professor, University of Roma Tre, Italy ÖZLEM ONARAN Associate Professor, Istanbul Technical University, Turkey and Visiting Faculty Member, Wirtschaftsuniversität Wien, Austria THOMAS I. PALLEY Chief Economist, U.S.-China Economic & Security Review Commission, USA MALCOLM SAWYER Professor of Economics, University of Leeds, UK THORSTEN SCHULTEN Senior Researcher, Institute for Economic and Social Research (WSI), Hans Boeckler Foundation, Germany ANTONELLA STIRATI Associate Professor, University of Roma Tre, Italy ENGELBERT STOCKHAMMER Assistant Professor, Wirtschaftsuniversität Wien, Austria CHRISTIAN WELLER Senior Economist, Centre for American Progress and Research Associate at the Economic Policy Institute, USA

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