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Wage rigidities in Western Germany? Microeconometric evidence from the 1990s

Puhani, Patrick A. - 2001

This paper investigates whether and in what sense the west German wage structure has been ?rigid? in the 1990s. To test the hypothesis that a rigid wage structure has been responsible for rising low-skilled unemployment, I propose a methodology which makes less restrictive identifying...

Persistent link: https://www.econbiz.de/10010297774

Forecasting economic activity in Germany: how useful are sentiment indicators?

Schröder, Michael; Hüfner, Felix P. - 2002

We analyze four economic sentiment indicators for the German economy regarding their ability to forecast economic activity. Using cross correlations and Granger causality tests we find that the ifo business expectations (ifo), the Purchasing Managers Index (PMI) and the ZEW Indicator of Economic...

Persistent link: https://www.econbiz.de/10010297904

A Test of the 'Krugman Hypothesis' for the United States, Britain, and Western Germany

Puhani, Patrick A. - 2003

large data sets from the U.S., Britain, and western Germany to test the Krugman hypothesis for the 1990s, when unemployment … in Germany increased (unlike in the U.S. and Britain, where it fell). British and German evidence is further backed up … with alternative data sets for these countries. I find evidence for the Krugman hypothesis when Germany is compared to the …

Persistent link: https://www.econbiz.de/10010297281

Multifaktormodelle zur Erklärung deutscher Aktienrenditen: eine empirische Analyse

Stehle, Richard; Schulz, Anja; Schröder, Michael; … - 2003

Bundesrepublik Deutschland die zeitliche Streuung von Aktienrenditen nur schlechter abbilden. Dagegen werden Portfolio-Renditen im …

Persistent link: https://www.econbiz.de/10010297296

Modeling Asset Returns: A Comparison of Theoretical and Empirical Models

Lüders, Erik; Schröder, Michael - 2004

large economies, USA, United Kingdom, Germany, France and Japan. The empirical results show that although the pure NGARCH …

Persistent link: https://www.econbiz.de/10010297345

The Dynamics of Overconfidence: Evidence from Stock Market Forecasters

Deaves, Richard; Lüders, Erik; Schröder, Michael - 2005

As a group, market forecasters are egregiously overconfident. In conformity to the dynamic model of overconfidence of Gervais and Odean (2001), successful forecasters become more overconfident. What?s more, more experienced forecasters have ?learned to be overconfident,? and hence are more...

Persistent link: https://www.econbiz.de/10010297495

Employment Effects of Publicly Financed Training Programs The East German Experience

Kraus, Florian; Puhani, Patrick A.; Steiner, Viktor - 1997

We analyze the effectiveness of publicly financed training and retraining programs in east Germany as measured by their …

Persistent link: https://www.econbiz.de/10010297569

What's on their mind: do exchange rate forecasters stick to theoretical models?

Schröder, Michael; Dornau, Robert - 1999

Do financial market analysts use structural economic models when forecasting exchange rates? This is the leading question analysed in this paper. In contrast to other studies we use expectations data instead of observable variables. Therefore we analyse the implicit structural models forecasters...

Persistent link: https://www.econbiz.de/10010297610

Labour mobility - an adjustment mechanism in Euroland? Empirical evidence for Western Germany, France and Italy

Puhani, Patrick A. - 1999

European Union. Regression results are provided for Western Germany, France, and Italy. It is shown that labour mobility is … highest in Germany, followed by France, and Italy. However, even in Germany, the accommodation of a shock to unemployment by …

Persistent link: https://www.econbiz.de/10010297645

Unternehmens- versus Analystenbefragungen: Zum Prognosegehalt von ifo-Geschäftserwartungen und ZEW-Konjunkturerwartungen

Hüfner, Felix P.; Schröder, Michael - 2001

In der vorliegenden Arbeit untersuchen wir die Eignung der ifo-Geschäftserwartungen und der ZEW-Konjunkturerwartungen als Frühindikatoren für die deutsche Industrieproduktion. Anhand von Granger-Kausalitätstests wird gezeigt, dass die auf Umfragen unter Finanzanalysten basierenden...

Persistent link: https://www.econbiz.de/10010297738