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Young and Out in Germany : On the Youths' Chances of Labor Market Entrance in Germany

Franz, Wolfgang; Inkmann, Joachim; Pohlmeier, Winfried; … - 2021

This paper deals with the labor market entrance of young people in the Federal Republic" of Germany. The main focus is … on failures during this stage. First, an overview of the youth" labor market in Germany is given. Then, the transition …

Persistent link: https://www.econbiz.de/10013222219

German and American Wage and Price Dynamics : Differences and Common Thenes

Franz, Wolfgang; Gordon, Robert J. - 2021

The evolution of unemployment in West Germany and the U. S. stands in sharp contrast, with German unemployment much … big difference berween the two countries is that there is no feedback from wages to prices in Germany, and so high … unemployment does not put downward pressure on the inflation rate. During the 19705 and 19805 in Germany there emerged a growing …

Persistent link: https://www.econbiz.de/10013237265

The Duration of Youth Unemployment in West Germany : Some Theoretical Considerations

Franz, Wolfgang - 2021

This paper presents a theoretical model dealing with the duration of youth unemployment in West Germany. Duration can …

Persistent link: https://www.econbiz.de/10013249173

The Reservation Wage of Unemployed Persons in the Federal Republic of Germany : Theory and Empirical Tests

Franz, Wolfgang - 2021

This study examines the determinants of the reservation wage of unemployed persons in the Federal Republic of Germany …

Persistent link: https://www.econbiz.de/10013249255

Insurance and Taxation Over the Life Cycle

Farhi, Emmanuel - 2011

We consider a dynamic Mirrlees economy in a life cycle context and study the op- timal insurance arrangement. Individual productivity evolves as a Markov process and is private information. We use a first order approach in discrete and continuous time and obtain novel theoretical and numerical...

Persistent link: https://www.econbiz.de/10013130780

Bubbly Liquidity

Farhi, Emmanuel - 2011

This paper analyzes the possibility and the consequences of rational bubbles in a dy- namic economy where financially constrained firms demand and supply liquidity. Bub- bles are more likely to emerge, the scarcer the supply of outside liquidity and the more limited the pledgeability of...

Persistent link: https://www.econbiz.de/10013130781

Fiscal Devaluations

Farhi, Emmanuel - 2011

We show that even when the exchange rate cannot be devalued, a small set of conventional fiscal instruments can robustly replicate the real allocations attained under a nominal exchange rate devaluation in a dynamic New Keynesian open economy environment. We perform the analysis under...

Persistent link: https://www.econbiz.de/10013117401

Fiscal Multipliers : Liquidity Traps and Currency Unions

Farhi, Emmanuel - 2012

We provide explicit solutions for government spending multipliers during a liquidity trap and within a fixed exchange regime using standard closed and open-economy models. We confirm the potential for large multipliers during liquidity traps. For a currency union, we show that self-financed...

Persistent link: https://www.econbiz.de/10013100679

Fiscal Unions

Werning, Iván - 2012

We study cross-country risk sharing as a second-best problem for members of a currency union using an open economy model with nominal rigidities and provide two key results. First, we show that if financial markets are incomplete, the value of gaining access to any given level of aggregate risk...

Persistent link: https://www.econbiz.de/10013102600

Dealing with the Trilemma : Optimal Capital Controls with Fixed Exchange Rates

Farhi, Emmanuel - 2012

We lay down a standard macroeconomic model of a small open economy with a fixed exchange rate and study optimal capital controls (defined as maximizing the utility of a representative household). We provide sharp analytical and numerical characterizations for a variety of shocks. We find that...

Persistent link: https://www.econbiz.de/10013104392