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Labour market developments in the Euro area diverged significantly since 2008. Economic literature frequently refers to labour mobility as pillar for the functioning of currency areas. Applying the CGE model PuMA, we quantitatively analyse to what extent labour mobility can contribute to...
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After hitting the lower bound on interest rates, the Eurosystem engaged in a public sector purchase programme (PSPP) and forward guidance (FG). We use prior and posterior predictive analysis to evaluate the importance of parameter uncertainty in an analysis of these policies. We model FG as an...
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Das Europäische Emissionshandelssystem stellt eine Zäsur in der europäischen Umwelt- und Energiepolitik dar. Zum ersten Mal werden Stromunternehmen und Betriebe aus energieintensiven Industriebranchen zu CO2-Einsparungen verpflichtet. Damit wird das klimaschädliche Gas auch zum ersten Mal...
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