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Rethinking the Concept of Long-Run Economic Growth

Groth, Christian; Koch, Karl-Josef; Steger, Thomas - CESifo - 2006

This paper argues that growth theory needs a more general “regularity” concept than that of exponential growth. This offers the possibility of considering a richer set of parameter combinations than in standard growth models. Allowing zero population growth in the Jones (1995) model serves...

Persistent link: https://www.econbiz.de/10005094481

Do Employers Discriminate Less if Vacancies are Difficult to Fill? Evidence from a Field Experiment

Baert, Stijn; Cockx, Bart; Gheyle, Niels; Vandamme, Cora - CESifo - 2013

We empirically test the relationship between hiring discrimination and labour market tightness at the level of the occupation. To this end, we conduct a correspondence test in the youth labour market. In line with theoretical expectations, we find that, compared to natives, candidates with a...

Persistent link: https://www.econbiz.de/10010607469

Journey into the Unknown? Economic Consequences of Factor Market Integration under Increasing Returns to Scale

Schäfer, Andreas; Steger, Thomas - CESifo - 2011

What are the dynamic consequences of comprehensive integration shocks? The answer to this question appears all but trivial. We set up a dynamic macroeconomic model of a small open economy where both capital and labor are mobile and there are increasing returns to scale at the aggregate level....

Persistent link: https://www.econbiz.de/10009645233

Dynamically Optimal R&D Subsidization

Grossmann, Volker; Steger, Thomas; Trimborn, Timo - CESifo - 2010

Previous research on optimal R&D subsidies has focussed on the long run. This paper characterizes the optimal time path of R&D subsidization in a semi-endogenous growth model, by exploiting a recently developed numerical method. Starting from the steady state under current R&D subsidization in...

Persistent link: https://www.econbiz.de/10008498993

Quantifying Optimal Growth Policy

Grossmann, Volker; Steger, Thomas; Trimborn, Timo - CESifo - 2010

The optimal mix of growth policies is determined within a comprehensive endogenous growth model. The analysis captures important elements of the tax-transfer system and accounts for transitional dynamics. Currently, for calculating corporate taxable income US firms are allowed to deduct...

Persistent link: https://www.econbiz.de/10008572585

History, Expectations, and Public Policy: Economic Development in Eastern Germany

Schäfer, Andreas; Steger, Thomas - CESifo - 2010

Motivated by the process of economic development in Eastern Germany since the German reunification we set up a dynamic macroeconomic model of a small open economy where both capital and labor are mobile and there are increasing returns to scale at the aggregate level. The model features multiple...

Persistent link: https://www.econbiz.de/10008671695

Overeducation at the Start of the Career - Stepping Stone or Trap?

Baert, Stijn; Cockx, Bart; Verhaest, Dieter - CESifo - 2012

This study investigates whether young unemployed graduates who accept a job below their level of education accelerate … or delay the transition into a job that matches their level of education. We adopt the Timing of Events approach to … started searching for a job right after leaving formal education. We find that overeducation is a trap. This trap is …

Persistent link: https://www.econbiz.de/10010550834