We estimate a monthly income process using annual longitudinal household-level income data, in order to understand the nature of income risk faced by households at high frequency, and to provide an input for models that wish to study household decision-making at higher frequency than available...

In this paper we use detailed trade and production data and a theoretically consistent model of demand - the Almost Ideal Demand System - to estimate bilateral trade elasticities, the key parameters required for quantification of the effects of the `1992' programme. Initial results for 70 West...

In seiner Rede beim 3. Munich Economic Summit am 18. Juni 2004 setzte sich Prof. David E. Wildasin, University of Kentucky, mit der Zukunft des Sozialstaates auseinander. Er analysiert die Auswirkung der wirtschaftlichen Integration, vor allen Dingen der Integration von Arbeits- und...

The paper discusses the current target interest rate, which is closed to zero with the new experiment of quantitative easing since 2009 and has reduced the rate of return and the income and has made the real savings rate negative. This target rate has not reduced unemployment and has not...