The paper develops a unified general equilibrium model includingsavings with overlapping generations, investment and search unemploament. Long-run analytical results for the small open economy identify capital accumulation as a prime transmission channel. The effects of integration on...

This paper searches for a general equilibrium model of optimal growth and endogenous fiscal policy with the aim of explaining the interaction between private agents and fiscal authorities in the U.S., West Germany, Japan and the U.K. over the period 1960-1996. Our search is conducted in the...

Labour market reforms that are designed to stimulate labour supply at the lower end of the wage distribution can never be precisely restricted to affect only the target group. Spillovers to and feedback from other segments of the labour market are unavoidable and may counteract the direct...

Labour market reforms that are designed to stimulate labour supply at the lower end of the wage distribution can never be precisely restricted to affect only the target group. Spillovers to and feedback from other segments of the labour market are unavoidable and may counteract the direct...

Wir untersuchen die Auswirkungen von Steuer-Transfer-Reformen in einem konsistent gekoppelten Mikro-Makro-Modell mit heterogenen Arbeitsmärkten. Das Modell umfasst drei Qualifikationstypen, die in der Produktion unvollständig substituierbar sind. Die empirisch geschätzten...

Germany like many other European countries subsidize commuting by granting the right to deduct commuting expenses from the income tax base. This regulation has often been changed and has regularly been under debate during the last decades. The pros (e.g. causing efficiency gains with respect to...