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Confronting the Representative Consumer with Household-Size Heterogeneity
Koulovatianos, Christos; Schröder, Carsten; Schmidt, Ulrich - Institut für Weltwirtschaft (IfW) - 2010
Much analysis in macroeconomics empirically addresses economy-wide incentives behind consumer/investment choices by using insights from the way a single representative household would behave. Heterogeneity at the micro level can jeopardize attempts to back up the representative consumer...
Persistent link: https://www.econbiz.de/10008727755
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Current Account Imbalances and Income Inequality: Theory and Evidence
Al-Hussami, Fares; Remesal, Álvaro Martín - Institut für Weltwirtschaft (IfW) - 2012
account balance. We develop a model with consumption externalities and heterogeneous agents which explains how an increase in …
Persistent link: https://www.econbiz.de/10010886828
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Trend Growth and the Dynamic Effects of Government Spending
Tesfaselassie, Mewael F. - Institut für Weltwirtschaft (IfW) - 2011
consumption and the fiscal multiplier given that consumption and labor are somewhat complementary …
Persistent link: https://www.econbiz.de/10008805609
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The Japanese economy in crises: A time series segmentation study
Cheong, Siew Ann; Fornia, Robert Paulo; Lee, Gladys Hui Ting - Institut für Weltwirtschaft (IfW) - 2011
We performed a comprehensive time series segmentation study on the 36 Nikkei Japanese industry indices from 1 January 1996 to 11 June 2010. From the temporal distributions of the clustered segments, we found that the Japanese economy never fully recovered from the extended 1997-2003 crisis, and...
Persistent link: https://www.econbiz.de/10009223284
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Costs of Housing Crises: International Evidence
Aßmann, Christian; Hogrefe, Jens; Jannsen, Nils - Institut für Weltwirtschaft (IfW) - 2009
This analysis provides evidence for the costs housing crises induce in terms of GDP growth and under what circumstances these crises are particularly costly. Housing crises are often followed by recessions that are longer and deeper than other recessions. According to empirical estimates,a...
Persistent link: https://www.econbiz.de/10005258422
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The Macroeconomic Effects of Fiscal Consolidation in Dynamic General Equilibrium
Schwarzmüller, Tim; Wolters, Maik - Institut für Weltwirtschaft (IfW) - 2014
of credit-constrained households who cannot smooth consumption has a large impact on the overall output and welfare … decreases. By contrast, for a consolidation via government consumption, transfers or the consumption tax rate, output recovers …
Persistent link: https://www.econbiz.de/10010933265
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Does Short-Time Work Save Jobs? A Business Cycle Analysis
Balleer, Almut; Gehrke, Britta; Lechthaler, Wolfgang; … - Institut für Weltwirtschaft (IfW) - 2013
This paper analyzes the effects of short-time work (i.e., government subsidized working time reductions) on unemployment and output fluctuations. The central question is whether the rule based component (i.e., the existence of the institution short-time work) and the discretionary component...
Persistent link: https://www.econbiz.de/10010886965
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The housing wealth effect on consumption reconsidered
Lindner, Fabian - Institut für Weltwirtschaft (IfW) - 2014
Much of the literature on the effect of housing wealth on consumption has been embedded in a simple life-cycle model in … changes in consumption. However, this might constitute a fallacy of composition. Such models ignore that changes in housing … classic Ando-Modigliani consumption function augmented by housing wealth can be deduced. It is shown that the deeper …
Persistent link: https://www.econbiz.de/10010956068
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BioRegio, BioProfile and the Rise of the German Biotech Industry
Dohse, Dirk; Staehler, Tanja - Institut für Weltwirtschaft (IfW) - 2008
growth potential through clustering. There is, however, little systematic analysis of their actual impact on the development …
Persistent link: https://www.econbiz.de/10005566218
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Through which channels can remittances spur economic growth in MENA countries?
Mim, Sami Ben; Ali, Mohamed Sami Ben - Institut für Weltwirtschaft (IfW) - 2012
This paper studies the remittances' effect on economic growth. Using panel data techniques, the authors estimate several specifications to provide support of such relationship for MENA countries over the period 1980-2009. The findings provide new robust evidence on how remittances are used in...
Persistent link: https://www.econbiz.de/10009646511