We present the estimated large-scale three-region DSGE model GEAR picturing Germany, the Euro Area and the Rest of the … world. Compared to existing models of this type, GEAR incorporates a comprehensive fiscal block, involuntary unemployment … present-value multipliers for distinct fiscal instruments, and to assess how discretionary fiscal policy in Germany and the …

States, Canada, Germany, and several other OECD countries during and after the Great Recession of 2008-09. Unemployment rates … increased moderately in Canada. More recent data also show that, unlike Germany and Canada, the U.S. unemployment rate remains … did not change substantially in Germany, increased and remained at relatively high levels in the United States, and …

States, Canada, Germany, and several other OECD countries during and after the Great Recession of 2008-09. Unemployment rates … increased moderately in Canada. More recent data also show that, unlike Germany and Canada, the U.S. unemployment rate remains … did not change substantially in Germany, increased and remained at relatively high levels in the United States, and …

economies and includes countries such as Germany, Finland, the Netherlands, or Denmark. The second group includes regional and …, such as GDP per capita, employment/unemployment rates, household savings and use them to compare the regional disparities …