We use data from the Survey of Consumer Finance and Survey of Income Program Participation to show that young households with children are under-insured against the risk that an adult member of the household dies. We develop a tractable macroeconomic model with human capital risk, age-dependent...

According to the pollution haven hypotheses differences in environmental regulation affect trade flows and plant location. Specifically, environmental stringency should decrease exports and increase imports of "dirty" goods. This paper estimates a gravity model to establish whether the...

Erwerbsunterbrechungen führen langfristig zu geringeren Einkommen. Eine einjährige Erwerbspause vermindert das durch die Berufserfahrung erworbene Humankapital um 33 %. Die daraus resultierenden Lohneinbußen hängen jedoch nicht nur von der Dauer, sondern auch vom Timing der Unterbrechung ab.

Different stochastic simulation methods are used in order to check the robustness of the outcome of policy simulations with a macroeconometric model. A macroeconometric disequilibriummodel of the West German economy is used to analyze a reform proposal for the tax system. The model was estimated...