Transatlantic Economic Relations (TER) was neglected by politi¬cians for much of the twentieth century as international security issues took priority. Since the end of the Cold War, however, and as economic issues have come to prominence TER has assumed increasing importance and yet is largely overlooked in academic discussion. This report places TER in its historical context and demonstrates how the political agenda and institutional setup are both largely dysfunctional. Viewed through the prism of industrial relations and drawing on some real life examples from both sides of the Atlantic, it argues that the social dimension is a challenge central to the future development of the relationship and proposes institutional innovations which could also be replicated in other areas: for instance in support of environmental concerns. Presenting some guiding principles for transatlantic trade, this paper recommends the creation of a new secretariat to act as a permanent contact point and providing a variety of practical functions essential to making TER work. University. It brings together academics from the social sciences and business disciplines to analyse the dynamics of globalization and formulate policy solutions. The Institute's research and consultancy will be of direct practical use to decisionmakers, policy formation, business users and civil society groups, and it will offer partnerships within and beyond the academic community.

Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. The employability of an aging population in a world of continuous and biased technical change is top of the political agenda. Due to endogenous human capital depreciation the effective retirement age is often below statutory retirement age resulting in permanent non-employability of older workers. We analyze this phenomenon in a putty-putty human capital vintage model and focus on education and the speed of human capital depreciation. Introducing a two-stage education system with initial schooling and lifelong learning, not even lifelong learning turns out to be capable of aligning economic and statutory retirement. However, well designed education programs will keep more workers in highly productive activities at the end of their working life, and hence will substitute for simple social transfers, or for an early switch towards very low paid jobs. JEL-Codes: J260, O330, J640. Terms of use: Documents in

More than half a decade after the outbreak of the greatest economic crisis since the Great Depression, the world economy is still facing serious difficulties. Much more than during a 'normal' recession, the Great Recession of recent years has uncovered serious structural problems in the world economy and has brought about levels of unemployment unprecedented in modern times (Elsby et al. 2010). It first became clear that the financial sector had become in effect self-referential and too much removed from its traditional role of allocating finance throughout the whole economy (Menkhoff and Meyer, 2010). Following this, the structural weaknesses of the Euro were exposed leading to serious questions about the long-term sustainability of the most ambitious currency union ever attempted. Policy Implications• The on-going economic crisis has shown that the constitution of different political economies and government involvement are key to creating resilient and sustainable economies.• In particular, the important SME sector is dependent on a supportive economic framework.• Economic policy-making needs to be embedded in a broader analytical framework.• The 'strategic econsystem' approach offers such a framework that allows us to capture and examine all policy-relevant aspects.

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The current travails of Europe's social democratic parties can only worsen if they fail to respond to the digital revolution's impacts on the labour market, society, and even their core values. Henning Meyer discusses how new approaches to policy can ensure that human freedom, justice and solidarity can thrive alongside the robots.