We estimate a small-scale, structural general equilibrium model of a small open economy using Bayesian methods. Our main focus is the conduct of monetary policy in Australia, Canada, New Zealand and the U.K., as measured by nominal interest rate rules. We consider generic Taylor-type rules,...

Seit 1998 - und verstärkt im Zuge der so genannten Hartz-Reformen - werden Vermittlungsdienstleistungen privater Anbieter zunehmend öffentlich über Contracting Out und Gutscheinverfahren gefördert und als Alternative zur öffentlichen Arbeitsvermittlung diskutiert. Das vorliegende Papier...

The contracting-out of job brokerage and case management services is a major international trend in the reform of the Public Employment Service. Instead of a public agency, private providers are contracted to deliver these services for the jobseekers. Australia and the Netherlands have...

This paper analyzes the stabilizing properties of alternative monetary policy regimes. In practice there is a choice between two broad types of monetary policy regimes: a fixed exchange rate regime or a floating exchange rate regime. In this paper I compare exchange rate targeting with different...

We examine the evolution of monetary policy rules in a group of inflation targeting countries (Australia, Canada, New Zealand, Sweden and the United Kingdom), applying a moment-based estimator in a time-varying parameter model with endogenous regressors. Using this novel flexible framework, our...