: The Macroeconomic Policy Institute (IMK)

The Macroeconomic Policy Institute (IMK) is an independent academic institute within the Hans-Böckler-Foundation, a non-profit organisation fostering co-determination and promoting research and academic study. The Foundation is linked to the German Confederation of Trade Unions (DGB). The IMK was founded in 2005 to strengthen the macroeconomic perspective both in economic research and in the economic policy debate. The IMK analyses business cycle developments and conducts economic policy research, notably on fiscal and monetary policy, labour markets, income distribution and financial markets. The Institute seeks to address the challenges facing macroeconomics and economic policy in the wake of the global financial crisis.

IMK Titelgrafik für die Startseite des Instituts

Source: HBS

29th FMM Conference: Gendering Macroeconomics

Gender plays a crucial role in many macroeconomic areas, including, for example, how fiscal policy or crises generate different outcomes for men, women, and non-binary individuals, and gender inequalities have substantial macroeconomic consequences. These disparities are often deeply entwined with labor market dynamics, where gender wage gaps, gendered and racial profiling of jobs and segregation, and inequalities in the distribution of paid and unpaid work persist. Such inequalities are further compounded by the systemic undervaluation of unpaid labor as well as paid care work, disproportionately carried out by women.

Source: HBS

8th International FMM Summer School

The summer school aims at providing an introduction to Keynesian macroeconomics and to the problems of European economic policies to interested graduate students (MA and PhD) and junior researchers. It will consist of overview lectures, a panel discussion, student study groups, an SFC lab, and a poster session.

Forum for Macroeconomics and Macroeconomic Policies

The FMM aims to be both a platform for discussions about economic theory as well as a forum for economic policy debates. The forum seeks to promote an exchange between competing theoretical paradigms.

Source: IMK

IMK Grafik zu den Veröffentlichungen im Allgemeinen

Source: HBS

Publications

The IMK regularly publishes in several of its own publication series.

Current Publications

: Cost perceptions and the support for carbon pricing

Our new study shows: People in Germany tend to overestimate their current costs of carbon pricing and increase their policy support when provided with personalized cost information. In contrast, they underestimate future costs and reduce their support when informed about actual higher prices. Personalized information thus boosts current acceptance but may lead to backlash as carbon prices rise.

Source: .

to the Working Paper 226

Peter Bofinger : Stablecoins and the Future of Money: Economic Principles and Policy Implications

Stablecoins are an exciting innovation in the global payment system. They have great potential for international transactions but also pose risks to the financial system. Like other digital platforms, the stablecoin market is characterized by network effects. Their impact on the ECB’s monetary policy is limited. The digital euro is not considered to be an alternative to stablecoins.

Source: IMK

to the IMK Study 100

Thomas Palley : The Kuznets curve versus cycles: rethinking the determination and long-run evolution of income distribution

This paper presents a theory and model of long-run cycles in income inequality. The model explains the historical pattern of income distribution identified by Kuznets (1955) and Piketty (2014).

Source: IMK

to the FMM Working Paper

Eckhard Hein : Post-Keynesian economics in Germany since the 1970s – a detailed mapping of the landscape

This paper maps the intellectual and institutional landscape of post-Keynesian economics in Germany since the 1970s. It reviews the contributions of academics based in Germany, irrespective of their nationality, to post-Keynesian economics viewed from a broad tent perspective and to the different strands within this broad-tent post-Keynesian economics.

Source: IMK

to the FMM Working Paper

Jan Behringer, Till van Treeck, Vincent Victor : Family firms and their role in the fall of the labor share and the rise of corporate saving in Germany

This study investigates the role of family firms in the fall of the labor share and the rise in corporate saving in Germany. Using a unique database on Family Ownership and Governance (FOG), we analyze 929 publicly listed firms and find that family firms, especially in manufacturing, experienced stronger declines in the labor share and higher corporate saving compared to non-family firms.

Source: IMK

to the FMM Working Paper

Simon Fløj Thomsen, Hamid Raza, Mikael Randrup Byrialsen : A benchmark Ecological Stock-Flow-Consistent Input-Output model for Denmark

This paper aims to develop an ecological macroeconomic model for the Danish economy that can link the economic and financial system with some key aspects of the climate. To do so, we combine Stock-flow-Consistent approach with Input-Output tables to build a hybrid model, which we call Ecological Stock-Flow-Consistent Input-Output model.

FMM Working Paper Cover with number 114 and logos

Source: IMK

to the FMM Working Paper