We investigate whether the macroeconomic effects of government spending shocks vary with the level of uncertainty. Using postwar US data and a Self-Exciting Interacted VAR (SEIVAR) model, we find that fiscal spending has positive output effects in tranquil times but is contractionary during...

This study analyzes the effect of fathers' parental leave-taking on the time fathers spend with their children and on mothers' and fathers' labor supply. Fathers' leave-taking is highly selective and the identification of causal effects relies on within-father differences in leave-taking for...

This paper examines the impact of a change in the German child benefit system in 1996, which led to a large increase in lump sum transfers to families with children. We analyze the impact on the labor force participation of family members. Comparing behavioral changes of adults with children...

The introduction of the German parental leave benefit (Elterngeld) applied to all children born on January 1st, 2007 or later. The new Elterngeld considerably changed the amount of transfers to families during the first two years postpartum. We show that the incentives created by using a cut-off...

Over the last decades many OECD countries introduced parental leave regulations in order to counteract low and decreasing birth rates. In general, these regulations aim at making parenthood more attractive and more compatible with a working career, especially for women. The recent German...

We analyze the importance of global shocks for the global economy and national policy makers. More specifically, we investigate whether monetary policy has become less effective in the wake of financial globalization. We also examine whether there is increasing uncertainty for central banks due...