In this paper, we compare the empirical properties of closed- and open-economy DSGEmodels estimated on Euro area data. The comparison is made along several dimensions;we examine the models in terms of their marginal likelihoods, forecasting performance,variance decompositions, and their...

The present paper examines the relationship between fixed-term employment and jobsatisfaction using individual-level data from the German Socio Economic Panel (GSOEP).According to theoretical expectations, fixed-term employment should be associated with arelative low level of job satisfaction,...

This paper analyses the effects of discretionary fiscal policy by presenting new empiricalevidence for Germany within a structural vector autoregression (SVAR) framework. FollowingBlanchard and Perotti (2002), the SVAR model is identified by applying institutionalinformation. We find no...

We investigate to what extent convergence in production levels per worker has beenachieved in Germany since unification. To this end, we model the distributionof GDP per employee across German districts using two-component normal mixtures.While in the first year after unification, the two...