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New Trade Theory Takes Over Monetary Theory

Gani, M - EconWPA - 2004

Prevailing trade theory is a neglected stepchild of economics. Micro rejects the sole reason for trade’s occurrence. It declares zero profit in equilibrium. Monetary theory and macroeconomics dismiss concerns of trade financing. They assert that money has nothing to do with traded output, but...

Persistent link: https://www.econbiz.de/10005408069

Labor Force Status Dynamics in the German Labor Market: Individual Heterogeneity and Cyclical Sensitivity

Kluve, Jochen; Schaffner, Sandra; Schmidt, Christoph M. - Institut für Wirtschafts- und Sozialstatistik, … - 2006

between the three core labor force states, employment, unemployment, and inactivity. The dynamics of these transitions depend …The aggregate average unemployment rate in a given country is essentially the result of individual workers' transitions … factors to translate unobserved shocks to the labor market into observed cellspecific unemployment rates as well as bilateral …

Persistent link: https://www.econbiz.de/10009216945

Is corporatism feasible?

Acocella, Nicola; Bartolomeo, Giovanni Di - EconWPA - 2003

In this paper we consider a standard policy game between the Government and a union. In such a framework, we first investigate the effects of corporatism on macroeconomic performance vis-à-vis different kinds of non-co-operative equilibria. Afterwards, we introduce in the literature the issue...

Persistent link: https://www.econbiz.de/10005076716

Staggered prices and trend inflation: some nuisances

Ascari, Guido - EconWPA - 2004

Most of the papers in the sticky-price literature are based on a log- linearization around the zero inflation steady state, a simplifying but counterfactual assumption. This paper shows that when trend inflation is considered, both the long-run and the short-run properties of DGE models based on...

Persistent link: https://www.econbiz.de/10005076806

Is corporatism feasible?

Acocella, Nicola; Bartolomeo, Giovanni Di - EconWPA - 2005

This paper investigates the effects of cooperation (corporatism) on macroeconomic performance by considering a rather standard policy game between the government and a monopoly union. We stress the shortcomings of the traditional way used to model cooperation in policy games (the maximization of...

Persistent link: https://www.econbiz.de/10005412619

Do Small and Medium-Sized Enterprises Stabilize Employment? Theoretical Considerations and Evidence from Germany

Fendel, Ralf; Frenkel, Michael - EconWPA - 1996

The hypothesis that the behavior of firms in adjusting the number of their employees along a business cycle depends on the size of the firms has often been mentioned in the literature. Several authors argue that small and medium sized enterprises are more hesitant in hiring additional employees...

Persistent link: https://www.econbiz.de/10005135008

THE WAGE-PRICE CONTROL EXPERIMENT--DID IT WORK?

Feige, Edgar L.; Pearce, Douglas K. - EconWPA - 2004

This paper analyses the consequences of the Nixon Administration’s policy of wage-price controls and finds that the controls were essentially ineffective in reducing inflation.

Persistent link: https://www.econbiz.de/10005561070