While many countries in the euro area are deep in recession due to a debt and structural crisis, the German economy appears to have excelled compared to many other euro area countries. Unemployment has fallen to the lowest level since German reunification, economic output has grown by over eight...

The development of private consumption is a crucial factor in compiling macroeconomic projections as part of national accounts. Household savings also play an important role as an explanatory variable for consumer development, since private households must decide whether to spend their incomes...

Die Entwicklung des privaten Verbrauchs ist eine entscheidende Größe bei der Erstellung makroökonomischer Prognosen im Rahmen der Volkswirtschaftlichen Gesamtrechnungen. Als erklärende Variable für die Konsumentwicklung spielt damit auch die Ersparnisbildung der Haushalte eine zentrale...

While many countries in the European Monetary Union are deep in recession due to a debt and structural crisis, the German economy appears to have excelled compared to many other euro area states. Unemployment has fallen to the lowest level since German reunification, economic output has grown by...

We use direct evidence on credit constraints to study their importance for household consumption growth and for welfare. We distentangle the direct effect on consumption growth of a currently binding credit constraint from the indirect effect of a potentially binding credit constraint that...

We study asset-tested unemployment insurance in an incomplete markets model with moral hazard during job search. Optimal asset testing is weak and yields negligible welfare gains. The optimal replacement rate of an unemployed worker with zero liquidity is 9 percentage points higher than that of...

Der Koalitionsvertrag, den CDU, CSU und SPD Ende November 2013 veröffentlich haben, enthält im Hinblick auf die wirtschaftliche und soziale Entwicklung viele konkrete und ehrgeizige Ziele: So sollen die Investitionsausgaben steigen, die Einkommenssituation ausgewählter Gruppen von Rentnern...

Die Entwicklung des privaten Verbrauchs ist eine entscheidende Größe bei der Erstellung makroökonomischer Prognosen im Rahmen der Volkswirtschaftlichen Gesamtrechnungen. Als erklärende Variable für die Konsumentwicklung spielt damit auch die Ersparnisbildung der Haushalte eine zentrale...

The development of private consumption is a crucial factor in compiling macroeconomic projections as part of national accounts. Household savings also play an important role as an explanatory variable for consumer development, since private households must decide whether to spend their incomes...