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Will the (German) NAIRU Please Stand up?

Franz, Wolfgang - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2003

" (NAIRU) for Germany. There are quite a few obstacles to perceiving the NAIRU as an understandable and easy-to-use analytical …, cointegration issues, and a time variability of the NAIRU and its confidence intervals. Despite many serious caveats a new attempt … is made to estimate a NAIRU for Germany based on conventional Phillips curves as well as on new approaches such as using …

Persistent link: https://www.econbiz.de/10005097479

The Phillips Curve and NAIRU Revisited: New Estimates for Germany

Fitzenberger, Bernd; Franz, Wolfgang; Bode, Oliver - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2007

This paper provides new estimates of a time?varying NAIRU for Germany taking account of the structural break caused by … inflation rates is employed. Therefore, either the NAIRU concept is not applicable to Germany or, as it is our suggestion, one … inflation target put forward by the European Central Bank. The estimates presented in this paper suggest that the NAIRU …

Persistent link: https://www.econbiz.de/10005098258

The Phillips Curve: (In)stability, the role of credit, and implications for potential output measurement

Schleer, Frauke; Kappler, Marcus - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2014

The path of output prior to the financial and economic crisis turned out to be not sustainable and lower than previously estimated in some European crisis countries. Specifically, the output gaps have been underestimated (and inversely potential output overestimated) before the recent crisis. It...

Persistent link: https://www.econbiz.de/10010957684

Institutions and unemployment: Do interactions matter?

Sachs, Andreas - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2011

Isolated effects of labor and product market institutions as well as the interaction between both aforementioned categories on unemployment have been extensively discussed in the empirical literature. However, interaction effects between individual labor market institutions have been widely...

Persistent link: https://www.econbiz.de/10009323188

A macroeconomic model for the evaluation of labor market reforms

Krebs, Tom; Scheffel, Martin - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2010

We develop a tractable macroeconomic model with employment risk and labor market search in order evaluate the effects of labor market reform on unemployment, growth, and welfare. The model has a large number of risk-averse households who can invest in risk-free physical capital and risky human...

Persistent link: https://www.econbiz.de/10008646450

A Bayesian approach to determine the impact of institutions on the unemployment rate

Sachs, Andreas - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2010

Labor and product market regulations affect the unemployment rate of a country without doubt. Econometricians, however, have yet to establish an unequivocal significance of this impact. Model mis-specification, one of the main underlying problems, is overcome by adopting a Bayesian Model...

Persistent link: https://www.econbiz.de/10008646453

An international cohort comparison of size effects on job growth

Anyadike-Danes, Michael; Bjuggren, Carl-Magnus; … - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2014

The contribution of different-sized businesses to job creation continues to attract policymakers' attention, however, it has recently been recognized that conclusions about size were confounded with the effect of age. We probe the role of size, controlling for age, by comparing the cohorts of...

Persistent link: https://www.econbiz.de/10011095352

Unemployment and labor reallocation in Europe

Hogrefe, Jan; Sachs, Andreas - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2014

We ask whether sectoral shocks and the subsequent labor reallocation are responsible for unemployment within selected European economies. Our measure of sectoral labor reallocation is adjusted for aggregate influences and the remaining variation is linked to unemployment in country specific...

Persistent link: https://www.econbiz.de/10010961633

Youth unemployment in the OECD: The role of institutions

Sachs, Andreas; Smolny, Werner - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2014

This paper analyzes the role of labor market institutions for youth unemployment, as contrasted to total unemployment. The empirical results are basically consistent with an insider view of labor market institutions. Labor market institutions tend to protect (older) employees but might harm...

Persistent link: https://www.econbiz.de/10010957666

Labour market performance in OECD countries: A comprehensive empirical modelling approach of institutional interdependencies

Sachs, Andreas; Schleer, Frauke - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2013

Reducing institutional rigidities in product and labour markets is key to lowering unemployment. The impact of such labour and product market reforms, however, depends crucially on the country-specific regulatory framework. In this paper, we estimate the country-specific impact of changes in six...

Persistent link: https://www.econbiz.de/10010957711