Previous assessments of nominal exchange rate determination have focused upon a narrow set of models typically of the 1970 s vintage, including monetary and portfolio balance models. In this paper we re-assess the in-sample fit and out-of-sample prediction of a wider set of models that have been...

This paper reports the results of a survey among private sector economists about credibility and transparency of central banks. In line with the survey of Alan Blinder among central bankers, we asked participants in Ifo s World Economic Survey to answer questions on the importance and...

Many governments have banned strikes in public transportation. Whether this can be justified depends on whether strikes endanger public safety or health. We use time-series and cross-sectional variation in powerful registry data to quantify the effects of public transit strikes on urban...

The purpose of this paper is to analyse the impact of market-oriented institutional reforms in German network industries. A disaggregated approach is chosen, which differentiates between network services, infrastructure management and network infrastructure. The gradual opening of network...

The end of communism in the 1990s probably is the most fundamental restructuring of institutions witnessed in recent history. At its core was the large-scale redistribution of previously state-owned companies. We construct a unique firm-level dataset to study this redistribution in East Germany...

Based on contribution patterns to parties in Germany and elsewhere, we suggest that democracies should use a mixed system where private funding can play a larger role than public funding. In Germany the high level of public funding for parties can be reduced without expecting undesirable effects...