This paper surveys the link between imperfect competition and the effects of fiscal policy on output, employment and welfare. We examine static and dynamic models, with and without entry under a variety of assumptions using a common analytical framework. We find that in general there is a robust...

In this paper we incorporate a labor market with matching frictions and wage rigidities into the New Keynesian business cycle model. In particular, we analyze the effect of a monetary policy shock and investigate how labor market frictions affect the transmission process of monetary policy. The...

This paper theoretically investigates the impact of European integration on employment by developing a new-keynesian model where fiscal policy effectively reduces firms? market power. Stronger product market competition is shown to reduce the marginal ability of governments to improve employment...

This paper discusses fiscal policy using a DSGE model with search and matching in the labour market. Fiscal policy is effective mainly via its impact through the labour market. Although public intervention tends to crowd out private consumption, public spending also improves the matching between...

This paper estimates the impact of training incidence and duration on employment transitions accounting for the endogeneity of program participation and duration. We specify a very flexible bivariate random effects probit model for employment and training participation and we use Bayesian Markov...

Die wirtschaftspolitische Diskussion in Deutschland wird durch eine angebotsorientierte Sichtweise dominiert. Wird dieser Ansatz den wirtschaftlichen Problemen gerecht? Welche finanzpolitische Strategie verfolgten erfolgreichere Länder als Deutschland? Welcher Policy-Mix ist in der aktuellen...