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The economics of insurance, its borders with finance and implications for systemic regulation
Thimann, Christian - 2015
Global financial regulators are currently reflecting on the nature of the insurance business. Specifically, they are trying to classify insurance into "traditional" and "non-traditional" activities, and to distinguish them from "non-insurance" activities. Subsequently, they will seek to apply...
Persistent link: https://www.econbiz.de/10010479958
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Sweden : from macroeconomic failure to macroeconomic success
Calmfors, Lars - 2012
Major economic reforms have been carried through in Sweden during the last two decades. Most of the reforms have been made in response to long-standing rather than to acute problems. There has usually been a strong perception among economists, policy makers and the general public of the problems...
Persistent link: https://www.econbiz.de/10009532656
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The Greek crisis and financial assistance programmes : an evaluation
Arghyrou, Michael Georgiou - 2015
We analyse the background of the Greek debt crisis and evaluate the three Greek financial assistance programme. The crisis and the first programme's (2010-11) failure were mainly the result of misguided internal policies. The second programme (2012-14) achieved progress towards recovery but this...
Persistent link: https://www.econbiz.de/10011384358
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Hartz IV and the decline of German unemployment : a macroeconomic evaluation
Hochmuth, Brigitte; Kohlbrecher, Britta; Merkl, Christian; … - 2021
This paper proposes a new approach to evaluate the macroeconomic effects of the “Hartz IV” reform, which reduced the generosity of long-term unemployment benefits. We propose a model with different unemployment durations, where the reform initiates both a partial effect and an equilibrium...
Persistent link: https://www.econbiz.de/10012485370
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Analyzing structural reforms using a behavioral macroeconomic model
De Grauwe, Paul; Ji, Yuemei - 2017
We use a behavioral macroeconomic model to analyze how structural reforms affect the economy in the short and in the long run. We consider two types of structural reforms. The first one increases the flexibility of wages and prices; the second one raises potential output in the economy. We find...
Persistent link: https://www.econbiz.de/10011663556
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Public employment agency reform, matching efficiency, and German unemployment
Merkl, Christian; Sauerbier, Timo - 2023
Our paper analyzes the role of public employment agencies in job matching, in particular the effects of the restructuring of the Federal Employment Agency in Germany (Hartz III labor market reform) for aggregate matching and unemployment. Based on two microeconomic datasets, we show that the...
Persistent link: https://www.econbiz.de/10014247120
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Comparative venture capital governance : private versus labour sponsored venture capital funds
Cumming, Douglas J.; MacIntosh, Jeffrey G. - 2003
Private independent limited partnership venture capital funds receive capital from institutional investors, without tax incentives. Limited partnership investment activities are governed by restrictive covenants that are determined by negotiated contract between the fund managers (general...
Persistent link: https://www.econbiz.de/10011514156
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Labor in the boardroom
Jäger, Simon; Schoefer, Benjamin; Heining, Jörg - 2019
We estimate the effects of a mandate allocating a third of corporate board seats to workers (shared governance). We study a reform in Germany that abruptly abolished this mandate for certain firms incorporated after August 1994 but locked it in for the older cohorts. In sharp contrast to the...
Persistent link: https://www.econbiz.de/10012138860
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Fiscal sustainability, fiscal reactions, pitfalls and determinants
Afonso, António; Coelho, José Carlos - 2022
conclude for the existence of panel cointegration between government revenues and expenditures; primary government balance and … one-period lagged public debt-to-GDP ratio; and public debt-to-GDP ratio and one-period lagged primary government balance … with trade openness, current account balances, government effectiveness index, after 2010, and with sovereign ratings …
Persistent link: https://www.econbiz.de/10013162289
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Fiscal sustainability and low interest rates : a note
Werding, Martin - 2021
public finances in EU member states (“S2”) is also defined if government borrowing rates are assumed to be permanently lower …
Persistent link: https://www.econbiz.de/10012421177