In 2005, a large-scale direct job creation programme – the so-called One-Euro-Jobs – was introduced in Germany. One-Euro-Jobs are mainly temporary, part-time non-profit-sector jobs, which have to be additional and of public interest. Their central goal is to improve the employability and in...

The German government introduced in 2005 a fundamental labor market reform, which emphasizes the activation of unemployed welfare recipients. A variety of active labor market policies (ALMPs) should help the unemployed find a job or increase their employability. One important activation program...

El objetivo de este documento es investigar los efectos causales a largo plazo de la concesión de una beca del Consejo Europeo de Investigación (ERC, por sus siglas en inglés) en la productividad de los investigadores, en la excelencia de su trabajo y en su capacidad para obtener nuevas becas...

We consider a Diamond-type model of endogenous growth in which there are three assets: fiat money, government bonds, and equity. Because of productivity shocks, the equity return is uncertain, and risk-averse investors require a positive equity premium. Typically, there exist two steady states,...

We incorporate a wage-bargaining structure in a dynamic general equilibrium model and show how this feature changes short- and long-run properties of equilibria compared with a perfectly competitive setting.We discuss how employment, capital and income shares respond to wage-setting shocks and...

This paper considers an endogenous growth model with productive government spending in which overlapping generations of agents vote sequentially on policy. With sequential majority voting, there is a multiplicity of politico-economic equilibria originating from self-fulfilling policy...

In this paper, we analyze how to utilize discount rates in intergenerational projects. Firstly, neoclassical decision-making is depicted in Ramsey and overlapping-generations models (OLG-models). Afterwards we investigate the utilization of time preference rates and opportunity cost rates in an...

The 1980s and 1990s have been marked with a series of financial and banking crises all over the world. This turned the attention of economists to such questions as how a financial system should be structured in order to reduce the vulnerability of an economy to the risk of a crisis, or what...

In this article we extend the recent literature on overlapping generations with a pollution sector by allowing generations to have a certain pollution perception with regards to the stock of pollution. Pollution perception, assumed to be part of the generations' preferences, can be either a...

The basic machines of macroeconomics. Ramsey, Solow, Samuelson-Diamond, RBCs, ISLM, Mundell-Fleming, Fischer-Taylor. How they work, what shortcuts they take, and how they can be used. Half-term subject. From the course home page: Course Description This half semester class presents an...