"In recent years the availability of new industry-level data allowed to evaluate the impact of labour market policies more consistently than previous standard cross-country studies. In this paper an industry-level panel is exploited to evaluate the impact of Employment Protection Legislation...

"In recent years the availability of new industry-level data allowed to evaluate the impact of labour market policies more consistently than previous standard cross-country studies. In this paper an industry-level panel is exploited to evaluate the impact of Employment Protection Legislation...

"This paper analyzes training motives of firms and the allocation of productive tasks at the workplace using data from the cost-benefit-survey of the Federal Institute for Vocational Education and Training for the year 2007 (BIBB-CBS 2007). We distinguish between two training motives, the...

Zusammenfassung Die Höhe der Vorstandsgehälter von Kapitalgesellschaften wird in Deutschland von vielen kritisiert. Ist diese Kritik aber berechtigt und lässt sie sich wirtschaftswissenschaftlich fundieren? Dies will der Aufsatz nicht nur auf Basis von betriebs- und personalwirtschaftlichem...

<Para ID="Par1">We present a general equilibrium model of the new neoclassical synthesis that has the same level of generality as the Arrow–Debreu model. This involves a stochastic multi-period economy with a monetary sector and sticky commodity prices. We formulate the notion of a sticky price equilibrium...</para>

This book provides a rigorous course to the theory of intermediate microeconomics. It includes not only the basic traditional theory, but also a ¡°From the Literature¡± box in each chapter directing students to applications of the theory. The theory is developed axiomatically, with optional...

The primary objective of this paper is to investigate the interaction of formal and informal financial markets and their impact on economic activity in quasi-emerging market economies. Using a four-sector dynamic stochastic general equilibrium model with asymmetric information in the formal...

This paper sets out a tractable model which illuminates problems relating to individual bank behaviour, to possible contagious inter-relationships between banks, and to the appropriate design of prudential requirements and incentives to limit ‘excessive’ risk-taking. Our model is rich enough...

The bond yield dynamics implied by a welfare-maximizing monetary policy and its credibility are explored in general equilibrium. Credibility is captured by a regime change from discretion to commitment. The policy determines the optimal output and inflation responses to a source of inflation...

Asset-return implications of nominal price and wage rigidities are analyzed in general equilibrium. Nominal rigidities, combined with permanent productivity shocks, increase expected excess returns on production claims. This is mainly explained by consumption dynamics driven by rigidity-induced...