Hajo Riese introduced the concept of market constellations to analyse the changing macroeconomic effects of German monetary policy from the 1950s to the 1980s, when monetary policy, focused on internal and external price stability in Germany, enabled continued net export surpluses. Yet changing...

This study analyses gender differences in the intergenerational earnings mobility of second-generation migrants in Germany. Thereby it takes into account the influence of assortative mating and the parental integration. First, intergenerational earnings elasticities are estimated at the mean and...

Purpose – The purpose of this paper is to estimate whether sexual activity is associated with wages, and also to estimate potential interactions between individuals’ characteristics, wages and sexual activity. Design/methodology/approach – The central hypothesis behind this research is...

We study optimal monetary policy in the presence of asymmetric wage indexation. We find that the monetary authorities do not react to small output shocks, and that their reaction to large shocks is asymmetric, insofar as they absorb positive shocks more than negative ones. As a consequence, we...