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Sectoral differences in wage freezes and wage cuts: evidence from a new firm survey
Radowski, Daniel; Bonin, Holger - Deutsche Bundesbank - 2008
, using a new and large employer survey on wage and price setting behaviour for Germany. We observe that wage freezes are more …
Persistent link: https://www.econbiz.de/10005083206
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Has the export pricing behaviour of German enterprises changed? Empirical evidence from German sectoral prices
Stahn, Kerstin - Deutsche Bundesbank - 2006
exchange rate pass-through and pricing-to-market for export pricing in Germany to shift since the 1990s is addressed by testing …
Persistent link: https://www.econbiz.de/10005083076
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Unemployment and employment protection in a unionized economy with search frictions
Stähler, Nikolai - Deutsche Bundesbank - 2007
protection decreases job creation as well as job destruction. However, in most models, wages are bargained individually between … workers and firms. Using a conventional matching model in which a monopoly union sets wages, I show that employment protection …
Persistent link: https://www.econbiz.de/10005083255
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Estimation of linear dynamic panel data models with time-invariant regressors
Kripfganz, Sebastian; Schwarz, Claudia - Deutsche Bundesbank - 2013
This paper considers estimation methods and inference for linear dynamic panel data models with unit …-invariant variables in a dynamic version of the Hausman and Taylor (1981) model. We propose a two-stage estimation procedure to identify … errors are adjusted to take into account the first-stage estimation uncertainty. As potential first-stage estimators we …
Persistent link: https://www.econbiz.de/10010957091
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Employment protection and temporary work agencies
Baumann, Florian; Mechtel, Mario; Stähler, Nikolai - Deutsche Bundesbank - 2008
Employers who use temporary agency staff in contrast to regular staff are not affected by employment protection regulations when terminating a job. Therefore, services provided by temporary work agencies may be seen as a substitute for regular employment. In this paper, we analyze the effects of...
Persistent link: https://www.econbiz.de/10005083218
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The Forecasting Performance of German Stock Option Densities
Keller, Joachim; Glatzer, Ernst; Craig, Ben R.; … - Deutsche Bundesbank - 2003
In this paper we will be estimating risk-neutral densities (RND) for the largest euro area stock market (the index of which is the German DAX), reporting their statistical properties, and evaluating their forecasting performance. We have applied an innovative test procedure to a new, rich, and...
Persistent link: https://www.econbiz.de/10005083099
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Long-Run Links Among Money, Prices, and Output: World-Wide Evidence
Reimers, Hans-Eggert; Herwartz, Helmut - Deutsche Bundesbank - 2001
Regarding inflation as being a monetary phenomenon in the long-run is a widely-held view in modern macro economics. We analyse this topic by means of a P-star model. Based on the quantity theory of money, this approach explains inflation via a supposed equilibrium price level (P-star), which...
Persistent link: https://www.econbiz.de/10005083108
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How strong is the impact of exports and other demand components on German import demand? Evidence from euro-area and non-euro-area imports
Stirböck, Claudia - Deutsche Bundesbank - 2006
This paper presents a single error-correction analysis of German total, euro-area (intra) and non-euro-area (extra) import demand for the 1980-2004 period and the more recent 1993-2004 period. German import demand is mainly driven by domestic demand and foreign demand for German goods; by...
Persistent link: https://www.econbiz.de/10005083110
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How to treat benchmark revisions? The case of German production and orders statistics
Knetsch, Thomas A.; Reimers, Hans-Eggert - Deutsche Bundesbank - 2006
Elements of an econometric examination of benchmark revisions in real-time data are suggested. Structural break tests may be applied to detect heterogeneities within vintages. Systems cointegration tests are helpful to reveal inconsistencies across vintages. Differencing and rebasing, often used...
Persistent link: https://www.econbiz.de/10005083117
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Threshold dynmamics of short-term interest rates: empirical evidence and implications for the term structure
Archontakis, Theofanis; Lemke, Wolfgang - Deutsche Bundesbank - 2007
Germany and the US. Based on the estimated short-rate dynamics we derive the implied arbitrage-free term structure of interest …
Persistent link: https://www.econbiz.de/10005083162