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Optimal factor taxation under wage bargaining : a dynamic perspective

Koskela, Erkki; Thadden, Leopold von - 2002

We consider the issue of steady-state optimal factor taxation in a Ramsey-type dynamic general equilibrium setting with two distinct distortions: i) taxes on capital and labour are the only available tax instruments for raising revenues, and ii) labour markets are subject to a static...

Persistent link: https://www.econbiz.de/10011431853

Precautionary saving and income uncertainty in Germany : a new evidence from microdata

Bartzsch, Nikolaus (contributor) - 2006

alternative measures of income uncertainty in a cross-section of households. In addition to the usual controls, risk aversion is …

Persistent link: https://www.econbiz.de/10003404862

Optimal savings for retirement : the role of individual accounts and disaster expectations

Le Blanc, Julia; Scholl, Almuth - 2011

We employ a life-cycle model with income risk to analyze how tax-deferred individual accounts affect households …' savings for retirement. We consider voluntary accounts as opposed to mandatory accounts with minimum contribution rates. We …

Persistent link: https://www.econbiz.de/10009424907

Monetary policy with model uncertainty distribution forecast targeting

Svensson, Lars E. O. (contributor); … - 2005

We examine optimal and other monetary policies in a linear-quadratic setup with a relatively general form of model uncertainty, so-called Markov jump-linear-quadratic systems extended to include forward-looking variables. The form of model uncertainty our framework encompasses includes: simple...

Persistent link: https://www.econbiz.de/10003126167

Consumption smoothing across states and time : international insurance vs. foreign loans

Von Furstenberg, George M. (contributor) - 2004 - [Elektronische Ressource]

Persistent link: https://www.econbiz.de/10002137088

Evaluating macroeconomic risk forecasts

Knüppel, Malte; Schultefrankenfeld, Guido - 2011

Macroeconomic risk assessments play an important role in the forecasts of many institutions. A risk forecast is related … to the potential asymmetry of the forecast density. In this work, we investigate how the optimality of such risk … possible. In general, tests for macroeconomic risk forecast optimality tend to have at best moderate power given the …

Persistent link: https://www.econbiz.de/10009159238

Firm-specific productivity risk over the business cycle : facts and aggregate implications

Bachmann, Ruediger; Bayer, Christian - 2009

; countercyclical risk ; aggregate shocks ; idiosyncratic shocks ; heterogeneous firms ; news shocks ; uncertainty shocks. …

Persistent link: https://www.econbiz.de/10003857672

The cross-section of firms over the business cycle : new facts and a DSGE exploration

Bachmann, Ruediger; Bayer, Christian - 2009

; cross-sectional firm dynamics ; lumpy investment ; countercyclical risk ; aggregate shocks ; idiosyncratic shocks …

Persistent link: https://www.econbiz.de/10003857682

Uncertainty about perceived inflation target and monetary policy

Aoki, Kōsuke (contributor); Kimura, Takeshi (contributor) - 2007

We analyse the interaction between private agents' uncertainty about inflation target and the central bank's data uncertainty. In our model, private agents update their perceived inflation target and the central bank estimates unobservable economic shocks as well as the perceived inflation...

Persistent link: https://www.econbiz.de/10003529538

Quantifying risk and uncertainty in macroeconomic forecasts

Knüppel, Malte (contributor); … - 2007

This paper discusses methods to quantify risk and uncertainty in macroeconomic forecasts. Both, parametric and non … macroeconometric model of the Bundesbank for Germany. Forecast intervals that integrate judgement on risk and uncertainty are obtained. …

Persistent link: https://www.econbiz.de/10003546003