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Chair in Theoretical Economics III

Prof. Dr. Peter Flaschel

Campus der Universität Bielefeld
© Universität Bielefeld

Prof. Dr. Peter Flaschel

© Universität Bielefeld

Die Fakultät für Wirtschaftswissenschaften trauert um Prof. Dr. Peter Flaschel, der ihr von 1985 an bis zum Ende seiner beruflichen Tätigkeit angehörte und am 5. Oktober im Alter von 78 Jahren verstorben ist. Schwerpunkt seiner Forschungstätigkeit war die Analyse ungleichgewichtiger Wachstumsprozesse und deren sozialer Konsequenzen.

Nachdem er zunächst an der Universität Bonn Mathematik studiert und in diesem Fach auch promoviert hatte, wandte sich sein Interesse – zunächst unter dem Einfluß der Marx’schen Werttheorie – zunehmend ökonomischen Fragestellungen zu, weshalb er 1975 an den Fachbereich Wirtschaftswissenschaften der Freien Universität Berlin wechselte, wo er 1980 habilitierte. Anschließend wurde er dort zum Professor für Volkswirtschaftslehre ernannt, bis er 1985 einen Ruf an die Universität Bielefeld annahm, die von nun an bis zum Ende seiner beruflichen Tätigkeit das Zentrum seiner wissenschaftlichen Arbeit darstellte. Während dieser Zeit wurden ihm zahlreiche Ehrungen zuteil, so z.B. eine Theodor-Heuss-Professur an der New School of Social Research in New York im Jahre 2006. Ein Jahr später wurde ihm das “Opus-Magnum-Stipendium” der “Fritz-Thyssen/Volkswagen-Stiftung” zuerkannt. Erst vor einer Woche erhielt er posthum den Friede-Gard-Preis für sein Lebenswerk und dessen Bedeutung als Grundlage für die Modellierung einer nachhaltigen Wirtschaftsweise.

Darüberhinaus führten ihn zahlreiche Gastprofessuren an verschiedene Forschungstätten im In- und Ausland, so z.B. an die Universitäten Bonn und Wien sowie mehrfach an die bereits erwähnte New School of Social Research. Ebenso zu erwähnen
sind mehrere Aufenthalte an der University of Technology in Sydney zu verschiedenen Projekten der makroökonomischen Theorie. Diese war dann auch wegweisend für seine gesamte weitere Forschungstätigkeit, aus welcher neben einer Vielzahl an Lehrbüchern und anderen Abhandlungen mehr als 200 Beiträge in renommierten Fachzeitschriften und Sammelbänden resultierten.

Im Zentrum seiner Forschung stand dabei die Entwicklung und mathematische Analyse dynamischer makroökonomischer Modelle keynesianischer Prägung, die im bewußten Gegensatz zu neo-und neuklassischen Markträumungsansätzen explizit temporäre Ungleichgewichtslagen und die daraus resultierenden Anpassungsprozesse in den Blick nahmen und zudem eine möglichst vollständige und detaillierte Erfassung der für eine Volkswirtschaft relevanten Märkte und Sektoren anstrebten.

Auch nach seinem Ausscheiden aus dem aktiven Dienst ließ sein unermüdlicher Arbeitseifer keinen “Ruhe”-stand im eigentlichen Sinne des Wortes zu. So beschäftigte er sich in den letzten Jahren u.a. mit Fragen nach der Zukunft der Demokratie und einer Reform des Wahlsystems. Ebenso sei ein Paper zur Corona-Krise erwähnt, das er noch im letzten Jahr entwickelte und dessen Implikationen deutliche Ähnlichkeiten mit dem realen Geschehen in den letzten anderthalb Jahren aufweist.

Neben seinen beeindruckenden fachlichen Leistungen seien aber auch seine Hilfsbereitschaft und sein kollegialer Führungsstil erwähnt. So war er seinen Doktoranden nicht nur ein ausgezeichneter Ratgeber, sondern setzte sich auch später intensiv für deren weiteres berufliches Fortkommen ein. Zudem schaffte er es stets, selbst kontroverse Diskussionen in einer angenehmen und von gegenseitiger Achtung geprägten Atmosphäre stattfinden zu lassen, in der auch der Humor nie zu kurz kam.

Peter Flaschel hinterläßt fachlich wie menschlich eine große Lücke, gleichzeitig aber auch ein herausragendes wissenschaftliches Vermächtnis, welches Ausgangspunkt und Inspiration für viele nachfolgende Ökonomen bietet. Die Fakultät wird ihm stets ein ehrenvolles Andenken bewahren.

Verfasser des Nachrufes: Dr. Gangolf Groh

Books

1. Second / Third Editions:

  • Riemannsche Hilbertmannigfaltigkeiten. Periodische Geodätische (with W. Klingenberg). Lecture Notes in Mathematics, 282. Heidelberg: Springer, second printing, 2008.
  • Keynesianische Makroökonomik. Unterbeschäftigung, Inflation und Wachstum (with G. Groh, H.-M. Krolzig and C. Proaño). Heidelberg: Springer, 2012 (third revised and enlarged edition).

 

2.  Advanced textbooks:

  • Foundations for a Disequilibrium Theory of the Business Cycle. Qualitative Analysis and Quantitative Assessment (with C. Chiarella and R. Franke). Cambridge, UK: Cambridge University Press, 2005.
  • Monetary Macrodynamics (with T. Asada, C. Chiarella and R. Franke). London: Routledge, 2010.

 

3.  Reconstructing Macroeconomics:

  • Reconstructing Keynesian Macroeconomics. Volume I. Partial Perspectives (with C. Chiarella, W. Semmler). London: Routledge, 2012.
  • Reconstructing Keynesian Macroeconomics. Volume II: Integrated Approaches (with C. Chiarella, W. Semmler). London: Routledge, 2013.
  • Reconstructing Keynesian Macroeconomics. Volume III: Financial Markets and Banking (with C. Chiarella, W. Semmler). London: Routledge, 2014.
     

4.  Real-Financial Market Interactions:

  • Business Fluctuations and Long-Phased Cycles in High Order Macrosystems (with C. Chiarella, H. Hung and W. Semmler). New York: Nova Publishers, 2009.
  • Financial Markets and the Macroeconomy. A Keynesian Perspective (with C. Chiarella, R. Franke and W. Semmler). London: Routledge, 2009.
  • Financial Assets, Debt and Liquidity Crises. A Keynesian Approach (with M. Charpe, C. Chiarella, W. Semmler). Cambridge: Cambridge University Press, 2011.
  • Macroeconomic Activity, Asset Accumulation and Portfolio Choice: A Keynesian Perspective (with T. Asada, T. Mouakil, C. Proaño). Palgrave / Macmillan, Houndmills, Basingstoke, Hampshire, 2011.

 

 5.  Applied Macrodynamics:

  • Quantitative and Empirical Analysis of Nonlinear Dynamic Macromodels (with C. Chiarella, R. Franke and W. Semmler (eds.). Contributions to Economic Analysis (Series Editors: B. Baltagi, E. Sadka and D. Wildasin). Amsterdam: Elsevier, 2006.
  • Mathematical Economics and the Dynamics of Capitalism. The Legacy of Richard Goodwin Continued (with M. Landesmann). London: Routledge Frontiers of Political Economy, 2008.
  • Topics in Applied Macrodynamic Theory (with G. Groh, C. Proa~no and W. Semmler). In: S. Mittnik and W. Semmler (Series eds.): Dynamic Modeling and Econometrics in Economics and Finance. Heidelberg: Springer, 2008.

 

6.  Capital Accumulation and Social Evolution:

  • The Macrodynamics of Capitalism. Elements for a Synthesis of Marx, Keynes and Schumpeter. Heidelberg: Springer, 2009.
  • Topics in Classical Micro- and Macro-Economics. Elements of a Critique of Neoricardian Theory. Heidelberg: Springer, 2010.
  • Flexicurity Capitalism. Foundations, Problems and Perspectives (with A. Greiner). Oxford: Oxford University Press, 2011.
  • A Future for Capitalism. Classical, Neoclassical and Keynesian Perspectives (with A. Greiner). Edward Elgar Publishing: Cheltenham Glos, UK, 2011.
  • Roads to Social Capitalism. Theory, Evidence and Policy (with S. Luchtenberg). Edward Elgar Publishing: Cheltenham Glos, UK, 2012.

 

7. In Preparation:

  • Value and Competition from the Classical Perspective (with R. Franke, R. Veneziani).
  • Unbalanced Growth from a Unifying Postkeynesian Perspective (with C. Chiarella)
  • Social Capitalism from a Marx-Keynes-Schumpeter Perspective (with S. Luchtenberg).

Papers

  1. Steindl models of growth and stagnation (with P. Skott). Metroeconomica, 57, 2006, 303 - 338.
  2. Measuring the interaction of wage and price Phillips curves for
    the U.S. economy (with P. Chen). Studies in Nonlinear Dynamics and
    Econometrics, 10, 2006, 1 -- 35.
  3. Keynesian dynamics and the wage-price spiral: A baseline disequilibrium model (with T. Asada, P. Chen, C. Chiarella). Journal of Macroeconomics, 28, 2006, 90--130.
  4. Keynesian dynamics and the wage-price spiral: A baseline disequilibrium model (with T. Asada, P. Chen, C. Chiarella). Journal of Macroeconomics, 28, 2006, 90--130.
  5. Interacting business fluctuations: The case of two large open economies (with C. Chiarella and H. Hung). The Singapore Economic Review, 51.3, 2006, 1 -- 30.
  6. The feedback channels in macroeconomics: Analytical foundations for 
    structural econometric model building (with P. Chen, C. Chiarella and W. Semmler). Central European Journal of Operations Research, 14, 2006, 261 -- 288.
  7. Wage-price dynamics and income distribution in a semi-structural Keynes-Goodwin model (with R. Franke, C. Proaño). Structural Change and Economic Dynamics, 17, 2006, 452 -- 465.
  8. Richard Murphey Goodwin (1993 -- 1996). His legacy continued (with M. Landesmann). In: P. Flaschel and M. Landesmann (eds.): Richard Murphey Goodwin (1993 -- 1996). His legacy continued. Structural Change and Economic Dynamics (Special Issue), 17, 2006, 379 -- 381.
  9. Testing wage and price Phillips curves for the United States (with G. Kauermann, W. Semmler). Metroeconomica, 58, 2007, 550 -- 581.
  10. Long cycles in employment, inflation and real unit wage costs. Qualitative analysis and quantitative assessment (with G. Kauermann and T. Teuber). American Journal of Applied Sciences, Special Issue on: Economic Sciences, Dynamics, Expectations and Learning, 2005, 69 -- 77.
  11. Hedging, speculation, and investment in balance-sheet triggered currency crises (with A. Röthig and W. Semmler). Australian Economic Papers, 2007, 224 -- 233.
  12. Currency crisis and monetary policy in economies with partial dollarization of liabilities (with C. Proaño, W. Semmler). The ICFAI Journal of Monetary Economics, 2008, 14 -- 39.
  13. On Equilibrium Determinacy of New Keynesian Models with Staggered Wage and
    Price Setting (with R. Franke, C. Proaño). The B.E. Journal of Macroeconomics, vol. 8, is. 1 (Topics), article 31, 2008.
  14. The J2 Status of  "Chaos'' in Macroeconomic Period Models (with C. Proaño). Studies in Nonlinear Dynamics and Econometrics, 13, 2009, article 2.
  15. Economic policy in a growth model with human capital, heterogenous agents and unemployment (with A. Greiner). Computational Economics, 2009, 33, 175 - 192.
  16. Overconsumption, Credit Rationing and Bailout Monetary Policy from a Minskyan
    Perspective (with M.Charpe, C. Proaño, W.Semmler). Intervention. European Journal of Economics and Economic Policy, 2009, 147 -- 170.
  17. Employment cycles and minimum wages. A macro view (with A. Greiner). Structural Change and Economic Dynamics, 20, 2009, 279-287.
  18. Broad Banking, Financial Markets and the Return of the Narrow Banking Idea (with F. Hartmann, C. Malikane and W. Semmler). The Journal of Economic Asymmetries, 2010, 7, 105 -- 138.
  19. Neo-Schumpeterian Flexicurity Capitalism, Heterogeneous Skills and the Formation of Elites (with A. Greiner, S. Luchtenberg). Homo Oeconomicus, 2010, 1-43.
  20. Public debt and public investment in an endogenous growth model with real wage rigidities (with A. Greiner). Scottish Journal of Political Economy, 2010, 57, 68 -- 84.
  21. Economic growth with an employer of last resort. A simple model of flexicurity capitalism (with A. Greiner). Research in Economics, 2009, 63, 102 -- 113.
  22. Flexicurity Capitalism in Small Euro-Area Economies (with A. Greiner, S. Luchtenberg). Bulletin of Political Economy, 2009, 3, 107-149.
  23. Stabilizing an Unstable Economy: On the Choice of Proper Policy Measures (with T. Asada, C. Chiarella, T. Mouakil, C. Proaño, W. Semmler). Economics, The Open-Access, Open-Assessment E-journal, 3, 2010-21, July 16, 2010: 
    http://www.economics-ejournal.org/economics/journalarticles/2010-21
  24. Keynesian disequilibrium dynamics: Estimated convergence, roads to instability and the emergence of complex business fluctuations (with C. Chiarella and H. Hung). AUCO. Czech Economic Review, 2010, IV, 236-232.
  25. Some numerical explorations of the Keynes-Metzler-Goodwin monetary growth model (with C. Chiarella). Indian Economic Review, 45, 1-28.
  26. Kaldorian Boom-Bust Cycles in the Housing Market (with I. Barens, F. Hartmann,
     A. Röthig). Intervention. European Journal of Economics and Economic Policy, 2010, 7, 361 -- 376.
  27. Sustainable Capitalism: Full-Employment Flexicurity Growth with Real Wage Rigidities (with T. Asada, A. Greiner, C. Proa~no ). Journal of Economic Behavior and Organization, 2011, 77, 248 -- 264.
  28. Dual labor markets and the impact of minimum wages on atypical employment
    (with A. Greiner). Metroeconomica, 62, 2011, 512 - 531.
  29. Crisis as Opportunity: Roads towards Social Capitalism (with S. Luchtenberg and C. Proaño). Bulletin of Political Economy, 5, 2011, 1 -- 40.
  30. Stock-Flow Interactions and Disequilibrium Macroeconomics, and
    the Role of Economic Policy (with T. Asada, C, Chiarella, T. Mouakil, C. Proaño, W. Semmler). Journal of Economic Surveys, 2011, 569--599. Reprinted in: S.
    Zambelli and D. George (eds.): Nonlinearity, Complexity and Randomness in Economics. Chichester, UK: Wiley-Blackwell, 2012.
  31. Estimated non-linearities and multiple equilibria in a model of distributive-demand cycles (with D. Tavani & L. Taylor), International Review of Applied Economics, 2011, 25, 519-538.
  32. Output, Stock Markets and Macro-Policy Measures in a Keynesian Portfolio Model (with T. Asada, M. Charpe, C. Malikane, T. Mouakil and C. Proaño ). Intervention. European Journal of Economics and Economic Policy, 8, 2011, 341-360.
  33. Stabilizing an Unstable Economy: Fiscal and Monetary Policy, Stocks, and the Term Structure of Interest Rates (with M. Charpe, F. Hartman and C. Proaño ). Economic Modeling, 28, 2011, 2129--2136.
  34. Reconsidering the dynamic interaction between real wages and macroeconomic activity (with B. Diallo, H.-M. Krolzig and C. Proaño ). Research in World Economy, 2011, 2, 77 -- 93.
  35. Monetary Policy and Macroeconomic Stability under Alternative Wage-led and Profit-led Aggregate Demand Regimes (with B. Diallo, H.-M. Krolzig and C. Proaño ). Cambridge Journal of Economics, 2011, 35, 569--586.
  36. Employment Cycles, Low Income Work and the Dynamic Impact of Minimum Wages. A Macro Perspective (with A. Greiner, C. Logeay and C. Proaño ). Journal of Evolutionary Economics, 2012, 22, 235ֲ50.
  37. Exploring US Business Cycles with Bivariate Loops using Penalized Spline
    Regression (with G. Kauermann and T. Teuber). Computational Economics, 2011, 39, 409ִ27.
  38. Taming Economic Fluctuations: Policies for Financial Market Stability (with
    C. Chiarella, C. K\"oper, C. Proaño and W. Semmler). Studies in Nonlinear Dynamics and Econometrics, 16, 2012, Article 2.
  39. Stock Market Booms, Endogenous Credit Creation and the Implications of Broad and Narrow Banking for Macroeconomic Stability (with C. Chiarella, F. Hartmann and C. Proaño). Journal of Economic Behavior and Organization, 83, 2012, 410-423.
  40. The Measurement of Prices of Production: An Alternative Approach (with R.
    Franke, R. Veneziani). Review of Political Economy, 24, 417-435, 2012.
  41. Reply to Bertram Schefold (with R. Franke, R. Veneziani). Review of Political Economy, 24, 445-447, 2012.
  42. Income Distribution, Credit Rationing and Households' Debt (with M. Charpe and
    C. Proaño). Metroeconomica, 63, 2012, 458-492.
  43. Labor Market Institutions and the Role of Elites in Flexicurity Societies (with A. Greiner, S. Luchtenberg). Review of Political Economy, 24, 103-129, 2012.
  44. Labor Productivity and the Law of Decreasing Labor Content (with R. Franke, R. Veneziani). Cambridge Journal of Economics, 2013, 37, 379-402.
  45. The Sources of Aggregate Profitability: Marx's Theory of Surplus Value Revisited (with N.Fröhlich, R. Veneziani). Intervention. European Journal of Economics and Economic Policy, 2013, forthcoming.
  46. Credit-Driven Investment, Heterogeneous Labor Markets and Macroeconomic Dynamics (with M. Charpe, H.-M. Krolzig, C. Proaño, W. Semmler, D. Tavani). Journal of Economic Interaction and Coordination, forthcoming.
  47. Goodwin's MKS System. A Baseline Macro-Model. Cambridge Journal of Economics, forthcoming.

Papers in edited volumes

  1. New Keynesian theory and the New Phillips curves: A competing approach (with E. Schlicht). In: C. Chiarella, P. Flaschel, R. Franke and W. Semmler (eds.): Quantitative and Empirical Analysis of Nonlinear Dynamic Macromodels. Contributions to Economic Analysis 277 (Series Editors: B. Baltagi, E. Sadka and D. Wildasin), Elsevier, Amsterdam, 2006, 113 -- 145.
  2. Wage-price Phillips curves and macroeconomic stability: Basic structural form, estimation and analysis (with H-M. Krolzig). In: C. Chiarella, P. Flaschel, R. Franke and W. Semmler (eds.): Quantitative and Empirical Analysis of Nonlinear Dynamic Macromodels. Contributions to Economic Analysis 277 (Series Editors: B. Baltagi, E. Sadka and D. Wildasin), Elsevier, Amsterdam, 2006, 7 -- 47.
  3.  AD-AS and the Phillips curve. A baseline disequilibrium model. (with T. Asada, P. Chen, C. Chiarella). In: C. Chiarella, P. Flaschel, R. Franke and W. Semmler (eds.): Quantitative and Empirical Analysis of Nonlinear Dynamic Macromodels. Contributions to Economic Analysis 277 (Series Editors: B. Baltagi, E. Sadka and D. Wildasin), Elsevier, Amsterdam, 2006, 173 -- 227.
  4. Keynesian macrodynamics and the Phillips curve. An estimated baseline macro-model for the U.S. economy. (with P. Chen, C. Chiarella, W. Semmler). In: C. Chiarella, P. Flaschel, R. Franke and W. Semmler (eds.): Quantitative and Empirical Analysis of Nonlinear Dynamic Macromodels. Contributions to Economic Analysis (Series Editors: B. Baltagi, E. Sadka and D. Wildasin), Elsevier, Amsterdam, 2006, 229 -- 284.
  5. A stochastic model of the real-financial interaction with boundedly rational heterogenous agents (with C. Chiarella, T. He, H. Hung). In: C. Chiarella, P.
    Flaschel, R. Franke and W. Semmler (eds.): Quantitative and Empirical Analysis of Nonlinear Dynamic Macromodels. Contributions to Economic Analysis 277 (Series Editors: B. Baltagi, E. Sadka and D. Wildasin), Elsevier, Amsterdam, 2006, 333 -- 358. 
  6. A high-dimensional model of real-financial market interaction: The cascade of stable matrices approach (with C. Chiarella, R. Franke and W. Semmler). In: C. Chiarella, P. Flaschel, R. Franke and W. Semmler (eds.): Quantitative and Empirical Analysis of Nonlinear Dynamic Macromodels. Contributions to Economic Analysis (Series Editors: B. Baltagi, E. Sadka and D. Wildasin), Elsevier, Amsterdam, 2006, 359 -- 384.
  7. Currency crisis, financial crisis and large output loss (with W. Semmler). In: C. Chiarella, P. Flaschel, R. Franke and W. Semmler (eds.): Quantitative and Empirical Analysis of Nonlinear Dynamic Macromodels. Contributions to Economic Analysis 277 (Series Editors: B. Baltagi, E. Sadka and D. Wildasin), Elsevier,
    Amsterdam, 2006, 385 -- 414.
  8. Prosperity and stagnation in capitalist economies (with T. Asada, P. Skott). In: C. Chiarella, P. Flaschel, R. Franke and W. Semmler (eds.): Quantitative and Empirical Analysis of Nonlinear Dynamic Macromodels. Contributions to Economic Analysis (Series Editors: B. Baltagi, E. Sadka and D. Wildasin), Elsevier, Amsterdam, 2006, 413 -- 448.
  9. Instability problems and policy issues in perfectly open economies. In: T. Asada and T. Ishikawa (eds.): The Economics of Time and Space. Tokyo: Springer, 2006, 99 -- 128. 
  10. Interacting two-country business fluctuations. Euroland and the USA (with T. Asada, C. Chiarella, R. Franke). In: G.L. Mazzi, G. Savio (eds.): Growth and Cycle in the Eurozone. New York: Palgrave Macmillan: 2007, 109 -- 118.
  11. AS-AD disequilibrium dynamics and the Taylor interest rate policy rule: Euro-area based estimation and simulation (with C. Proaño). In: Arestis, P., Hein, E. and E. Le Heron (eds.): Aspects of Modern Monetary and Macroeconomic Policies. New York: Palgrave, Macmillan, 2007, 172 -- 196.
  12. Business fluctuations and long-phased cycles in high order macrosystems (with C. Chiarella, W. Semmler). In: T. Nagakawa (ed.): Business Fluctuations and Cycles. New York: Nova Publishers, 2008.
  13. Mathematical economics and the dynamics of capitalism (with M. Landesmann). In: P. Flaschel and M. Landesmann (eds.): Mathematical Economics and the Dynamics of Capitalism (with M. Landesmann). London: Routledge, 2008, 1 -- 8.
  14. Kaleckian investment and employment cycles in postwar industrialized economies (with R. Franke, W. Semmler). In: P. Flaschel and M. Landesmann (eds.): Mathematical Economics and the Dynamics of Capitalism. London: Routledge, 2008, 35 -- 65.
  15. Varieties of capitalism. The flexicurity model (with A. Greiner, E. Nell and S. Luchtenberg). In: P. Flaschel and M. Landesmann (eds.): Mathematical Economics and the Dynamics of Capitalism (with M. Landesmann). London: Routledge, 2008, 76 -- 104.
  16. The Classical growth cycle after fifteen years of new observations (with G. Groh, G. Kauermann, T. Teuber). In: P. Flaschel and M. Landesmann (eds.): Mathematical Economics and the Dynamics of Capitalism. London: Routledge, 2008, 131 -- 144.
  17. Semi-structural Keynes-Goodwin modeling: Elaboration and calibration of
    a baseline theoretical framework (with R. Franke, C. Proaño). In: P. Flaschel and M. Landesmann (eds.): Mathematical Economics and the Dynamics of Capitalism (with M. Landesmann). London: Routledge, 2008, 178 -- 204.
  18. Flexicurity Capitalism (with A. Greiner, S. Luchtenberg). In: H. Gischer, P. Reichling, T. Spengler and A. Wenig (eds.): Transformation in der Ökonomie. Wiesbaden: Gabler Edition Wissenschaft, 2008.
  19. Business Fluctuations and Long-Phased Cycles in High Order Macrosystems (with C. Chiarella, and W. Semmler). In: T Nagakawa (ed.): Business Fluctuations and Cycles. New York: Nova Publishers, 2007, 203 -- 264. Reprinted in: Jon C. Keene (ed.): New business and finance research developments. New York: Nova Publishers, 2008.
  20. Rational Expectation Conundrums in a Small Model of Finance-led World Capitalism (with F. Hartmann). In: J. Kromphardt and H.-P. Spahn (eds.): Die aktuelle Währungsunordnung: Analysen und Reformvorschläge. Marburg: Metropolis Verlag, 2009, 211 -- 235.
  21. Corporate Currency Hedging and Currency Crises (with A. Röthig, W. Semmler). In: A. Pyka, U.Cantner, A. Greiner and T. Kuhn (eds.): Recent Advances in Neo- Schumpeterian Economics. Essays in Honour of Horst Hanusch. Cheltenham: Edward Elgar, 2009, 141 - 162.
  22. Dissent-Driven Capitalism, Flexicurity Growth and Environmental Rehabilitation
    (with A. Greiner). In: M. Setterfield (ed.): Handbook of Alternative Theories of Economic Growth. Cheltenham: Edward Elgar, 2010, 331-343.
  23. A macrodynamic model of real-financial interaction: Implications of budget equations and capital accumulation (with C.Chiarella, W.Semmler). In: C. Kyrtsou and C. Volrow (eds.): Progress in Financial Market Research. New York: Nova Science Publishers, 2011, 243-262.
  24. Keynes, the dynamic stochastic general equilibrium model, and the business cycle (with C.Chiarella, W. Semmler). In: R. Kuroki (ed.): Keynes and Modern Economics. Heidelberg: Springer, 2012.
  25. The sources of profitability. In: L.Taylor, A. Rezai, T. Michl (eds.): Social Fairness and Economics: Economic Essays in the Spirit of Duncan Foley.. Routledge, 2012.

1968

Diploma in Mathematics (Theme of the Thesis: The Calculus of Variations in the Large), Faculty of Mathematics, Bonn University

1969

Felix Hausdorff Memorial Price (Theme of the Essay: Geometry of the Space of Closed Curves. Closed Geodesics.), Faculty of Mathematics, Bonn University

1970

PhD Thesis (Theme of the Doctoral Dissertation: Riemannian Geometry on Hilbert Manifolds), Faculty of Mathematics, Bonn University

1980

Habilitation in Economics (Theme of the Habilitation Thesis: Marx, Sraffa and Leontief: Critique and Synthesis), Department of Economics, Free University, Berlin

1981-85

Professor of Economics, Department of Economics, Free University, Berlin, Germany

1984/5

Visiting Professor at the New School for Social Research, New York, USA

1985

Visiting Professor at Bonn University, Bonn, Germany

Since 1985

Professor of Economics, Department of Economics and Business Administration, Bielefeld University, Bielefeld, Germany

Since 1986

Editor of the Series 'Dynamic Economic Theory' (together with Carl Chiarella, Reiner Franke, Michael Krüger, Ingrid Kubin, Thomas Lux, Willi Semmler, Peter Skott)

1987

Visiting Professor at the University of Vienna, Vienna, Austria

Since 1993

Visiting Professor at the University of Technology Sydney, Australia (10 Visits with Various Projects on Macrodynamic Theory)

Since 2000

Member of the Board of the 'Center for Empirical Macroeconomics' at Bielefeld University

Fall Term 2006

Theodor Heuss Professor, New School University, New York

2007-2008

Sabbatical Year (`Opus Magnum' Research Grant: Fritz Thyssen Stiftung / VolkswagenStiftung)

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