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Citations for "Hysteresis and Unemployment"

by Olivier J. Blanchard

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  1. Giorgio Canarella & Stephen M. Miller & Stephen K. Pollard, 2013. "Unemployment Rate Hysteresis and the Great Recession: Exploring the Metropolitan Evidence," Working papers, University of Connecticut, Department of Economics 2013-19, University of Connecticut, Department of Economics.
  2. Cevik, Emrah Ismail & Dibooglu, Sel, 2013. "Persistence and non-linearity in US unemployment: A regime-switching approach," Economic Systems, Elsevier, Elsevier, vol. 37(1), pages 61-68.
  3. Someshwar Rao & Jiang Li, 2013. "Explaining Slower Productivity Growth: The Role of Weak Demand Growth," International Productivity Monitor, Centre for the Study of Living Standards, Centre for the Study of Living Standards, vol. 26, pages 3-19, Fall.
  4. Franz, Wolfgang, 1993. "Unvollkommene Arbeitsmärkte in makroökonomischen Modellen: Eine Übersicht," Discussion Papers 1, University of Konstanz, Center for International Labor Economics (CILE).
  5. Rasi, Chris-Marie & Viikari, Jan-Markus, 1998. "The Time-Varying NAIRU and Potential Output in Finland," Research Discussion Papers, Bank of Finland 6/1998, Bank of Finland.
  6. Paqué, Karl-Heinz, 1990. "Unemployment in West Germany: A survey of explanations and policy options," Kiel Working Papers 407, Kiel Institute for the World Economy.
  7. Marika Karanassou & Hector Sala & Dennis J. Snower, 2008. "Phillips Curves and Unemployment Dynamics: A Critique and a Holistic Perspective," Discussion Papers, School of Economics, The University of New South Wales 2008-08, School of Economics, The University of New South Wales.
  8. Marcel Aloy & Gilles Dufrenot & Charles Lai Tong & Anne Peguin-Feissolle, 2012. "A Smooth Transition Long-Memory Model," Working Papers halshs-00793680, HAL.
  9. Luis Eduardo Arango & IREGUI, Ana María & MELO, Luis F., 2006. "Recent macroeconomic performance in colombia: what went wrong?," REVISTA DE ECONOMÍA DEL ROSARIO, UNIVERSIDAD DEL ROSARIO.
  10. Guglielmo Maria Caporale & Luis A. Gil-Alana, 2006. "Modelling Structural Breaks in the US, UK and Japanese Unemployment Rates," CESifo Working Paper Series 1734, CESifo Group Munich.
  11. Van Haeperen, Béatrice, 1998. "La courbe de Beveridge : Belgique, 1970 - 1993," Discussion Papers (IRES - Institut de Recherches Economiques et Sociales) 1998019, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
  12. Roger E.A. Farmer, 2011. "The Stock Market Crash of 2008 Caused the Great Recession: Theory and Evidence," NBER Working Papers 17479, National Bureau of Economic Research, Inc.
  13. Jacques H. DREZE & Alain DURRE & Henri R. SNEESSENS, 2000. "Investment Stimulation, with Some Reference to Housing," Discussion Papers (REL - Recherches Economiques de Louvain) 2000013, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
  14. Rui M. Pereira, 2014. "Okun's Law, Asymmetries and Regional Spillovers: Evidence from Virginia Metropolitan Statistical Areas and the District of Columbia," Working Papers, Department of Economics, College of William and Mary 140, Department of Economics, College of William and Mary.
  15. Bruno Contini & Fabio Rapiti, 1999. "'Young In, Old Out' Revisited: New Patterns of Employment Replacement in the Italian Economy," International Review of Applied Economics, Taylor & Francis Journals, Taylor & Francis Journals, vol. 13(3), pages 395-415.
  16. Andrea Vindigni & Cristina Tealdi, 2012. "Uncertainty and the Politics of Employment Protection," Working Papers 6/2012, IMT Institute for Advanced Studies Lucca, revised May 2013.
  17. Lucas Papademos, 2005. "Macroeconomic theory and monetary policy: the contributions of Franco Modigliani and the ongoing debate," BNL Quarterly Review, Banca Nazionale del Lavoro, Banca Nazionale del Lavoro, vol. 58(233-234), pages 187-214.
  18. Justin Lin & Binkai Chen, 2011. "Urbanization and urban-rural inequality in china: a new perspective from the government’s development strategy," Frontiers of Economics in China, Springer, Springer, vol. 6(1), pages 1-21, March.
  19. Jamel Trabelsi, 1997. "Les tests de racine unitaire et les modèles Arch : application au taux de chômage," Économie et Prévision, Programme National Persée, Programme National Persée, vol. 131(5), pages 177-190.
  20. Matteo Lanzafame, 2010. "The nature of regional unemployment in Italy," Empirical Economics, Springer, Springer, vol. 39(3), pages 877-895, December.
  21. Franses, Ph.H.B.F. & Paap, R., 1998. "Censored latent effects autoregression, with an application to US unemployment," Econometric Institute Research Papers EI 9841, Erasmus University Rotterdam, Erasmus School of Economics (ESE), Econometric Institute.
  22. Pranab Bardhan., 1992. "Economics of Development and the Development of Economics," Economics Working Papers, University of California at Berkeley 92-196, University of California at Berkeley.
  23. Pierre Cahuc, 1990. "La théorie des négociations salariales : une revue de la littérature," Économie et Prévision, Programme National Persée, Programme National Persée, vol. 92(1), pages 21-30.
  24. Shadman-Mehta, Fatemeh & Sneessens, Henri R., 1998. "Demand-Supply Interactions and Unemployment Dynamics: Can there be Path Dependency ? The Case of Belgium, 1955-1994," Discussion Papers (IRES - Institut de Recherches Economiques et Sociales) 1998017, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
  25. Amitava Krishna Dutt, 2006. "Aggregate Demand, Aggregate Supply and Economic Growth," International Review of Applied Economics, Taylor & Francis Journals, Taylor & Francis Journals, vol. 20(3), pages 319-336.
  26. David Spector, 2001. "Emploi : une analyse critique des politiques malthusiennes," Économie et Prévision, Programme National Persée, Programme National Persée, vol. 150(4), pages 13-31.
  27. Kienzler, Daniel & Schmid, Kai Daniel, 2013. "Monetary policy and hysteresis in potential output," University of Tuebingen Working Papers in Economics and Finance 55, University of Tuebingen, Faculty of Economics and Social Sciences.
  28. Paap, R. & Franses, Ph.H.B.F., 1999. "Do the US and Canada have a common nonlinear cycle in unemployment?," Econometric Institute Research Papers EI 9907-/A, Erasmus University Rotterdam, Erasmus School of Economics (ESE), Econometric Institute.
  29. Farmer, Roger E A, 2013. "The Natural Rate Hypothesis: An idea past its sell-by-date," CEPR Discussion Papers, C.E.P.R. Discussion Papers 9580, C.E.P.R. Discussion Papers.
  30. Parello, Carmelo Pierpaolo, 2011. "Labor market rigidity and productivity growth in a model of innovation-driven growth," Economic Modelling, Elsevier, Elsevier, vol. 28(3), pages 1058-1067, May.
  31. Aysun, Uluc & Bouvet, Florence & Hofler, Richard, 2014. "An alternative measure of structural unemployment," Economic Modelling, Elsevier, Elsevier, vol. 38(C), pages 592-603.
  32. Andrew Bascand, 1988. "The persistence of unemployment: lessons from overseas experience," Reserve Bank of New Zealand Bulletin, Reserve Bank of New Zealand, Reserve Bank of New Zealand, vol. 51, december.
  33. Lucas Papademos, 2005. "Macroeconomic theory and monetary policy: the contributions of Franco Modigliani and the ongoing debate," Banca Nazionale del Lavoro Quarterly Review, Banca Nazionale del Lavoro, Banca Nazionale del Lavoro, vol. 58(233-234), pages 187-214.
  34. Bashar, Omar H.M.N., 2011. "On the permanent effect of an aggregate demand shock: Evidence from the G-7 countries," Economic Modelling, Elsevier, Elsevier, vol. 28(3), pages 1374-1382, May.
  35. Peter Skott, 2012. "Theoretical And Empirical Shortcomings Of The Kaleckian Investment Function," Metroeconomica, Wiley Blackwell, Wiley Blackwell, vol. 63(1), pages 109-138, 02.
  36. Hubert Kempf, 1990. "Externalités et contrats salariaux," Économie et Prévision, Programme National Persée, Programme National Persée, vol. 92(1), pages 51-60.
  37. Karl Ove Moene & Michael Wallerstein, 1993. "The Economic Performance of Different Bargaining Institutions: A Survey of the Theoretical Literature," Wirtschaft und Gesellschaft - WuG, Kammer für Arbeiter und Angestellte für Wien, Abteilung Wirtschaftswissenschaft und Statistik, vol. 19(4), pages 423-450.
  38. Engelbert Stockhammer & Simon Sturn, 2008. "The Impact of Monetary Policy on Unemployment Hysteresis," IMK Working Paper 15-2008, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.
  39. José Francisco Bellod Redondo, 2013. "La NAIRU y la pseudociencia neoliberal," Revista de Economía Crítica, Asociación de Economía Crítica, Asociación de Economía Crítica, vol. 16, pages 18-43.
  40. Adsera, A. & Boix, C., 1998. "Must We Choose? European Unemployment, American Inequality and the Impact of Education and Labour Market Institutions," UFAE and IAE Working Papers, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC) 414.98, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).
  41. Guglielmo Caporale & Luis Gil-Alana, 2009. "Multiple shifts and fractional integration in the US and UK unemployment rates," Journal of Economics and Finance, Springer, Springer, vol. 33(4), pages 364-375, October.
  42. Donald Freeman, 2012. "On (Not) Closing the Gaps: The Evolution of National and Regional Unemployment Rates by Race and Ethnicity," The Review of Black Political Economy, Springer, Springer, vol. 39(2), pages 267-284, June.
  43. Nicholas Apergis & Spyros Zikos, 2003. "The Law of Verdoorn: Evidence from Greek Disaggregated Manufacturing Time Series Data," The Economic and Social Review, Economic and Social Studies, Economic and Social Studies, vol. 34(1), pages 87–104.
  44. Camille Logeay & Silke Tober, 2003. "Time-Varying Nairu and Real Interest Rates in the Euro Area," Economics Working Papers 024, European Network of Economic Policy Research Institutes.
  45. Eckhard Hein & Marc Lavoie & Till van Treeck, 2011. "Some instability puzzles in Kaleckian models of growth and distribution: a critical survey," Cambridge Journal of Economics, Oxford University Press, Oxford University Press, vol. 35(3), pages 587-612.
  46. Cheng, Ka Ming & Durmaz, Nazif & Kim, Hyeongwoo & Stern, Michael L., 2012. "Hysteresis vs. natural rate of US unemployment," Economic Modelling, Elsevier, Elsevier, vol. 29(2), pages 428-434.
  47. Pereira, Luiz Carlos Bresser & Lima, Gilberto Tadeu, 1996. "The Relative Autonomy of Macroeconomics, a Methodological Approach," Textos para discussão 49, Escola de Economia de São Paulo, Getulio Vargas Foundation (Brazil).
  48. Carlos A. Arango & Ángela Milena Rojas, 2003. "Demanda laboral y reforma comercial en el sector manufacturero colombiano: 1977-1999," ENSAYOS SOBRE POLÍTICA ECONÓMICA, BANCO DE LA REPÚBLICA - ESPE, BANCO DE LA REPÚBLICA - ESPE.
  49. Kazuya Kamiya & Takashi Shimizu, 2010. "Hysteresis in Dynamic General Equilibrium Models with Cash-in-Advance Constraints," CIRJE F-Series, CIRJE, Faculty of Economics, University of Tokyo CIRJE-F-765, CIRJE, Faculty of Economics, University of Tokyo.
  50. Guglielmo Maria Caporale & Luis A. Gil-Alana & Yuliya Lovcha, 2014. "Testing Unemployment Theories: A Multivariate Long Memory Approach," CESifo Working Paper Series 4570, CESifo Group Munich.
  51. Hélène Zajdela, 1990. "Le dualisme du marché du travail : enjeux et fondements théoriques," Économie et Prévision, Programme National Persée, Programme National Persée, vol. 92(1), pages 31-42.
  52. Floro Ernesto Caroleo, 2004. "Fondamenti teorici della rigidità' salariale nell'ambito dei “Non Market Clearing Models”," CELPE Discussion Papers 79, CELPE - Centre of Labour Economics and Economic Policy, University of Salerno, Italy.
  53. Elmslie, Bruce & Sedo, Stanley, 1996. "Discrimination, social psychology, and hysteresis in labor markets," Journal of Economic Psychology, Elsevier, Elsevier, vol. 17(4), pages 465-478, August.
  54. Maciej K. Dudek & ówna Handlowa, 2006. "On Artificial Structural Unemployment," Computing in Economics and Finance 2006, Society for Computational Economics 171, Society for Computational Economics.
  55. Trpeski, Predrag & Tevdovski, Dragan, 2014. "NAIRU estimates in transitional economy with extremely high unemployment rate: the case of the Republic of Macedonia," MPRA Paper 56374, University Library of Munich, Germany.
  56. Bozani, Vasiliki & Drydakis, Nick, 2011. "Studying the NAIRU and its Implications," IZA Discussion Papers 6079, Institute for the Study of Labor (IZA).
  57. Martin Leites & Sylvina Porras, 2013. "El enfoque de la Reacción en Cadena: una aplicación para explicar la dinámica del desempleo en Uruguay," Documentos de Trabajo (working papers) 13-11, Instituto de Economía - IECON.
  58. Rui M. Pereira, 2013. "Okun's Law across the Business Cycle and during the Great Recession: A Markov Switching Analysis," Working Papers, Department of Economics, College of William and Mary 139, Department of Economics, College of William and Mary.
  59. Maurice Peat & Max Stevenson, 1994. "Asymmetry in the Business Cycle: Evidence from the Australian Labour Markets," Working Paper Series, Finance Discipline Group, UTS Business School, University of Technology, Sydney 37, Finance Discipline Group, UTS Business School, University of Technology, Sydney.
  60. Kienzler, Daniel & Schmid, Kai D., . "Hysteresis in Potential Output and Monetary Policy," Working Papers on Finance 1328, University of St. Gallen, School of Finance.
  61. Ana R. de Lamo & Juan J. Dolado, 1993. "Un modelo del mercado de trabajo y la restricción de oferta en la economía española," Investigaciones Economicas, Fundación SEPI, Fundación SEPI, vol. 17(1), pages 87-118, January.
  62. Doran, Justin & Fingleton, Bernard, 2012. "Economic shocks and growth: spatio-temporal perspectives on Europe's economies in a time of crisis," MPRA Paper 47292, University Library of Munich, Germany.
  63. Giuseppe Fontana & Bill Gerrard, 2006. "The future of Post Keynesian economics," BNL Quarterly Review, Banca Nazionale del Lavoro, Banca Nazionale del Lavoro, vol. 59(236), pages 49-80.
  64. Ewing, Bradley T. & Wunnava, Phanindra V., 2001. "Unit roots and structural breaks in North American unemployment rates," The North American Journal of Economics and Finance, Elsevier, Elsevier, vol. 12(3), pages 273-282, November.
  65. Jamel Trabelsi & Moïse Sidiropoulos, 2001. "Les chocs monétaires et la persistance du taux de chômage," Économie et Prévision, Programme National Persée, Programme National Persée, vol. 148(2), pages 41-47.
  66. Franz, Wolfgang & Smolny, Werner, 1993. "Sectoral wage and price formation and working time in Germany: An econometric analysis," Discussion Papers 5, University of Konstanz, Center for International Labor Economics (CILE).
  67. Jaakko Pehkonen & Hannu Tervo, 1998. "Persistence and Turnover in Regional Unemployment Disparities," Regional Studies, Taylor & Francis Journals, Taylor & Francis Journals, vol. 32(5), pages 445-458.
  68. Frey, Rainer, 2009. "The design of an asymmetric currency union with shock persistence and spillovers: Short-term versus medium-term," European Journal of Political Economy, Elsevier, vol. 25(1), pages 85-97, March.
  69. Kyota Eguchi, 2000. "Employment Protection Regulations and New Hiring," CIRJE F-Series, CIRJE, Faculty of Economics, University of Tokyo CIRJE-F-88, CIRJE, Faculty of Economics, University of Tokyo.
  70. Luis Alberiko Gil-Alana & Pedro Garcia-del-Barrio, . "New Revelations about Unemployment Persistence in Spain," Faculty Working Papers, School of Economics and Business Administration, University of Navarra 10/06, School of Economics and Business Administration, University of Navarra.
  71. Sharon Kozicki, 2001. "Why do central banks monitor so many inflation indicators?," Economic Review, Federal Reserve Bank of Kansas City, issue Q III, pages 5-42.
  72. Skalin, Joakim & Teräsvirta, Timo, 1998. "Modelling asymmetries and moving equilibria in unemployment rates," Working Paper Series in Economics and Finance 262, Stockholm School of Economics, revised 05 Oct 1998.
  73. Maria Scattaglia, 1994. "Politiche per l'occupazione e Microfondamenti "Keynesiani" dell'economia del lavoro," Working Papers 196, Dipartimento Scienze Economiche, Universita' di Bologna.
  74. Song, Frank M. & Wu, Yangru, 1998. "Hysteresis in unemployment: Evidence from OECD countries," The Quarterly Review of Economics and Finance, Elsevier, Elsevier, vol. 38(2), pages 181-192.
  75. Philippe Moës, 2012. "Multivariate models with dual cycles: implications for output gap and potential growth measurement," Empirical Economics, Springer, Springer, vol. 42(3), pages 791-818, June.
  76. Dutt, Amitava K. & Ros, Jaime, 2007. "Aggregate demand shocks and economic growth," Structural Change and Economic Dynamics, Elsevier, Elsevier, vol. 18(1), pages 75-99, March.
  77. Luis Eduardo Arango & Ana María Iregui & Luis Fernando Melo, . "Recent Behavior of Output, Unemployment, Wages and Prices in Colombia:What went Wrong?," Borradores de Economia 249, Banco de la Republica de Colombia.
  78. Dobbie, Michael, 2006. "Insider Power, Outsider Ineffectiveness and Product Market Competition: Evidence from Australia," Review of Applied Economics, Review of Applied Economics, Review of Applied Economics, vol. 2(1).
  79. Verheyen, Florian, 2013. "Exchange rate nonlinearities in EMU exports to the US," Economic Modelling, Elsevier, Elsevier, vol. 32(C), pages 66-76.
  80. S. Haincourt. & M. Mogliani., 2012. "Has the 2008-2009 recession increased the structural share of unemployment in the euro area?," Quarterly selection of articles - Bulletin de la Banque de France, Banque de France, Banque de France, issue 25, pages 63-80, Sring.
  81. Caporale, Guglielmo Maria & Gil-Alana, Luis A., 2008. "Modelling the US, UK and Japanese unemployment rates: Fractional integration and structural breaks," Computational Statistics & Data Analysis, Elsevier, Elsevier, vol. 52(11), pages 4998-5013, July.
  82. Luis a. Gil-alana & Liang Jiang, 2013. "Unemployment in the US. Unemployment rate versus claimant counts. Mean reversion, persistence or hysteresis," Economics Bulletin, AccessEcon, vol. 33(3), pages 1978-1982.
  83. Liew, Venus Khim-Sen & Chia, Ricky Chee-Jiun & Puah, Chin-Hong, 2009. "Does Hysteresis in Unemployment Occur in OECD Countries? Evidence from Parametric and Non-Parametric Panel Unit Roots Tests," MPRA Paper 9915, University Library of Munich, Germany.
  84. van Dijk, Dick & Franses, Philip Hans & Paap, Richard, 2002. "A nonlinear long memory model, with an application to US unemployment," Journal of Econometrics, Elsevier, Elsevier, vol. 110(2), pages 135-165, October.
  85. Charley Xia and William Griffiths, 2012. "Bayesian Unit Root Testing: The Effect Of Choice Of Prior On Test Outcomes," Department of Economics - Working Papers Series, The University of Melbourne 1152, The University of Melbourne.
  86. Paqué, Karl-Heinz, 1989. "Micro-macro links in West Germany's unemployment," Kiel Working Papers 378, Kiel Institute for the World Economy.
  87. David Cameron, 1999. "Unemployment in the New Europe:The Contours of the Problem," EUI-RSCAS Working Papers, European University Institute (EUI), Robert Schuman Centre of Advanced Studies (RSCAS) 35, European University Institute (EUI), Robert Schuman Centre of Advanced Studies (RSCAS).
  88. Bashar, Omar H.M.N., 2012. "The dynamics of aggregate demand and supply shocks in ASEAN countries," Journal of Asian Economics, Elsevier, Elsevier, vol. 23(5), pages 507-518.
  89. Eckhard Hein & Achim Truger, 2006. "Germany's post-2000 stagnation in the European context - a lesson in macroeconomic mismanagement," IMK Working Paper 03-2006, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.
  90. Dargay, Joyce & Gately, Dermot, 1997. "The demand for transportation fuels: Imperfect price-reversibility?," Transportation Research Part B: Methodological, Elsevier, Elsevier, vol. 31(1), pages 71-82, February.
  91. Vijverberg, Chu-Ping C., 2009. "A time deformation model and its time-varying autocorrelation: An application to US unemployment data," International Journal of Forecasting, Elsevier, Elsevier, vol. 25(1), pages 128-145.
  92. Marcello M. Estevão & Evridiki Tsounta, 2010. "Canada's Potential Growth," IMF Working Papers 10/13, International Monetary Fund.
  93. Apergis, Nicholas, 2005. "An estimation of the natural rate of unemployment in Greece," Journal of Policy Modeling, Elsevier, Elsevier, vol. 27(1), pages 91-99, February.
  94. Roger E.A. Farmer, 2013. "Animal Spirits, Financial Crises and Persistent Unemployment-super-," Economic Journal, Royal Economic Society, Royal Economic Society, vol. 0, pages 317-340, 05.
  95. Alfonso Palacio-Vera, 2002. "The "Modern" View of Macroeconomics: Somo Critical Reflections," Documentos de trabajo de la Facultad de Ciencias Económicas y Empresariales, Universidad Complutense de Madrid, Facultad de Ciencias Económicas y Empresariales 02-17, Universidad Complutense de Madrid, Facultad de Ciencias Económicas y Empresariales.
  96. Ines Perez-Soba Aguilar & Elena Marquez de la Cruz & Ana Rosa Martinez-Canete & Alfonso Palacio-Vera, 2006. "Capital Stock and Unemployment: Searching for the Missing Link," Economics Working Paper Archive wp_475, Levy Economics Institute.
  97. Teulings, Coen N., 1997. "A new theory of corporatism and wage setting," European Economic Review, Elsevier, Elsevier, vol. 41(3-5), pages 659-669, April.
  98. Holzer, Harry J & Montgomery, Edward B, 1993. "Asymmetries and Rigidities in Wage Adjustments by Firms," The Review of Economics and Statistics, MIT Press, vol. 75(3), pages 397-408, August.
  99. Dargay, Joyce & Gately, Dermot, 1995. "The imperfect price reversibility of non-transport oil demand in the OECD," Energy Economics, Elsevier, Elsevier, vol. 17(1), pages 59-71, January.
  100. Barry, Frank, 2009. "Social Partnership, Competitiveness and Exit from Fiscal Crisis," The Economic and Social Review, Economic and Social Studies, Economic and Social Studies, vol. 40(1), pages 1-14.
  101. Franses, Ph.H.B.F. & Paap, R., 1998. "Modelling asymmetric persistence over the business cycle," Econometric Institute Research Papers EI 9852, Erasmus University Rotterdam, Erasmus School of Economics (ESE), Econometric Institute.
  102. Pablo González, 2002. "Profit Sharing Reconsidered: Efficiency Wages and Renegotiation Costs," Documentos de Trabajo, Centro de Economía Aplicada, Universidad de Chile 151, Centro de Economía Aplicada, Universidad de Chile.
  103. Eckhard Hein & Achim Truger, 2008. "Fiscal policy in the macroeconomic policy mix: A Critique of the New Consensus Model and a comparison of macroeconomic policies in France, Germany, the UK and Sweden from a Post-Keynesian perspective," IMK Working Paper 03-2008, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.