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Persistent link: https://www.econbiz.de/10011527042
Despite significant measures to reinforce the EMU's institutional set-up, there is widespread consensus that more needs to be done in order to better deal with cyclical and structural heterogeneity in the EU. Market-based adjustment mechanisms are necessary but not sufficient to advance...
Persistent link: https://www.econbiz.de/10010429828
Persistent link: https://www.econbiz.de/10002645253
This paper studies theoretically and empirically why and how labor policies may reduce productivity and employment in order to stabilize labor incomes and redistribute resources. It proposes a specific stylized model where the tradeoffs facing labor policies are influenced by structural factors,...
Persistent link: https://www.econbiz.de/10013073087
The likely impact of the EMU on the variability and level of employment is analyzed. The major conclusions are as follows: (i) Although an inflation-target regime will constrain monetary policy of a non-participant in the EMU, it still leaves considerable scope for exchange-rate changes in the...
Persistent link: https://www.econbiz.de/10014208221
Persistent link: https://www.econbiz.de/10015076512
Steht das hoffnungsvoll gehegte, weltweit bewunderte europäische Integrationsprojekt heute vor dem Scheitern? Die Konflikte und Spannungen um die Stabilität der Währungsunion ("Eurokrise") und die enormen Herausforderungen der Flüchtlingskrise haben die Grundfesten der Europäischen Union...
Persistent link: https://www.econbiz.de/10011566357
Using a newly constructed macroeconometric model for Germany and the rest of the Euro area, we investigate the … macroeconomic effects of structural labor market reforms in Germany. We find that neither the fact that Germany can no longer pursue … Germany by implementing labor market reforms themselves constitute impediments to successful reforms. Reforms would relative …
Persistent link: https://www.econbiz.de/10003373604
. Further simulations highlight the importance of increased savings preferences in Germany to explain the latter. …
Persistent link: https://www.econbiz.de/10011316580
In this paper,we assess the impact ofmajor German structural reforms from1999 to 2008 on key macroeconomic variables within a two-country monetary union DSGE model. Bymany, these reforms, especially the Hartz reforms on the labormarket, are considered to be the root of thereafter observed...
Persistent link: https://www.econbiz.de/10010429216