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Low Wage Services : Interpreting the US - German Difference

Freeman, Richard B. - 2000

-wage services in the US and Germany. We find a clear low-wage service jobs deficit' in Germany but this is not due to excessively …

Persistent link: https://www.econbiz.de/10012471159

Skill Compression, Wage Differentials and Employment : Germany vs. the US

Freeman, Richard B. - 2000

Germany's more compressed wage structure is taken by many analysts as the main cause of the German-US difference in job … creation. We find that the US has a more dispersed level of skills than Germany but even adjusted for skills, Germany has a …

Persistent link: https://www.econbiz.de/10012471160

Expectations Hypotheses Tests

Bekaert, Geert - 2000

We investigate the Expectations Hypotheses of the term structure of interest rates and of the foreign exchange market using vector autoregressive methods for the U.S. dollar, Deutsche mark, and British pound interest rates and exchange rates. In addition to standard Wald tests, we formulate...

Persistent link: https://www.econbiz.de/10012471161

Why a Funded Pension System is Useful and Why It is Not Useful

Sinn, Hans-Werner - 2000

Based on explicit present value calculations, the paper criticizes the view that the PAYGO system wastes economic resources. In present value terms, there is nothing to be gained from a transition to funded system even though the latter offers a permanently higher rate of return. The sum of the...

Persistent link: https://www.econbiz.de/10012471177

Germany's Economic Unification : An Assessment after Ten Years

Sinn, Hans-Werner - 2000

A political miracle occurred when Germany was reunited, and at first glance an economic miracle has followed. Real … west Germany. Excessively high wages coupled with investment incentives that made the cost of capital negative rank high …

Persistent link: https://www.econbiz.de/10012471183

Why Do People Still Live in East Germany?

Hunt, Jennifer - 2000

In 1997 GDP per capita in East Germany was 57% of that of West Germany, wage rates were 75% of western levels, and the … bring convergence, labor flows would respond, enhancing overall efficiency. Yet net emigration from East Germany has fallen … from high levels in 1989-1990 to close to zero. Using state-level data for all of Germany, available from 1991-1996, I am …

Persistent link: https://www.econbiz.de/10012471211

The Role of Wage and Skill Differences in US-German Employment Differences

Freeman, Richard B. - 2000

Greater job creation in the US than in Germany has often been related to greater wage dispersion coupled with less … jobs problem in Germany is one of a general lack in demand for labor …

Persistent link: https://www.econbiz.de/10012471302

G3 Exchange Rate Relationships : A Recap of the Record and a Review of Proposals for Change

Clarida, Richard H. - 1999

This paper is a recap of G3 exchange rate relationships since the collapse of Bretton Woods and an analysis of recent proposals for changing the way the G3 countries currently conduct exchange rate policy. We seek to understand these proposals in the context of the status quo monetary policies...

Persistent link: https://www.econbiz.de/10012471348

Banks, the IMF, and the Asian Crisis

Kho, Bong-Chan - 1999

This paper examines the impact of the Asian crisis on bank stocks across four Western countries and six Asian countries. In the second half of 1997, Western banks experienced positive returns. In contrast East Asian bank indices incurred losses in excess of 60% in each of the crisis countries....

Persistent link: https://www.econbiz.de/10012471423

Incentive Effects of Social Security Under an Uncertain Disability Option

Boersch-Supan, Axel - 1999

Incentive effects of pension systems are usually estimated under the assumption that the institutional environment provides a single optimal 'pathway' for retirement. However, many countries provide competing pathways which may include several early retirement options in addition to normal...

Persistent link: https://www.econbiz.de/10012471445