The social norm of unemployment suggests that aggregate unemployment reduces the well-being of the employed, but has a far smaller effect on the unemployed. We use German panel data to reproduce this standard result, but then suggest that the appropriate distinction may not be between employment...

Based on new, exceptionally informative and large German linked employer-employee administrative data, we investigate the question whether the omission of important control variables in matching estimation leads to biased impact estimates of typical active labour market programs for the...

We estimate short, medium, and long-run individual labor market effects of training programs for unemployed by following program participation on a monthly basis over a ten-year period. Since analyzing the effectiveness of training over such a long period is impossible with experimental data, we...

In this paper we estimate a simple New-Keynesian DSGE model withIn diesem Diskussionspapier schätzen wir ein einfaches Neukeynesianisches dynamisches Gleichgewichtsmodel für deutsche Daten und den Zeitraum zwischen dem ersten Quartal 1970 und dem letzten Quartal 1998. Im Unterschied zu einer Reihe