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In this paper six authors propose guidelines for German labor market policy, to overcome current discouragement and lead to a new balance of social security and individual competetiveness. Crucial aspects in this regard should be a reformed tax system based on excise instead of income taxes, and...
Persistent link: https://www.econbiz.de/10011294519
a financial accelerator of about 3.6 (exogenous wages) to 4.5 (endogenous wages). Both match Shimer (2005)'s elasticity …" assumption in Hagedorn and Manovskii (2008): we keep the value of wages over productivity below 0.78. We conclude that financial …
Persistent link: https://www.econbiz.de/10008810695