Kai Daniel Schmid nimmt eine integrierte stabilitätstheoretische Analyse der Zinspolitik vor, welche die Anpassungen der Produktionskapazität an Veränderungen der Güternachfrage berücksichtigt. Der Autor zeigt auf, inwiefern kurzfristige Zinsimpulse auch in der langen Frist...

We demonstrate that upward-looking comparisons induce “keeping up with the richer Joneses”-behaviour. Using data from the German Socio-Economic Panel, we estimate the effect of reference consumption, defined as the consumption level of all households who are perceived to be richer, on...

type="main" xml:id="sjpe12050-abs-0001" <title type="main">Abstract</title> <p>We show that actively stabilizing economic activity plays a more prominent role in the conduct of monetary policy when potential output is subject to hysteresis. We augment a basic New Keynesian model by hysteresis in potential output and contrast...</p>

Abstract Against the ongoing assessment of the root causes of rising economic inequality in industrialized countries, analyses of the distribution of savings along the income and wealth distribution are of high interest. We analyze the concentration of household savings in Germany by estimating...

Using micro data from the German Socio-Economic Panel we examine the interplay between changes in the functional distribution of income and the distribution of market income among individuals. In particular, we categorize and evaluate the implications of changing income shares from asset flows...