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forecasting German unemployment in the short run. Every month, the CEOs of the FEA’s regional agencies are asked about their … expectations of future labor market developments. We generate an aggregate unemployment leading indicator that exploits serial …
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This paper uses several macroeconomic and financial indicators within a Markov Switching (MS) framework to predict the turning points of the business cycle. The presented model is applied to monthly German real-time data covering the recession and the recovery after the financial crisis. We show...
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In the monthly ifo Business Survey around 9,000 German companies answer questions about their current business situation, expectations and plans for the near future as well as on other business variables. This paper provides an overview of all regular questions (monthly, quarterly, bi-annually,...
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A common method of evaluating the scope for demand expansion is to try to estimate a threshold rate of unemployment … above which policies of demand stimulus are non-inflationary. However, this non-accelerating inflation rate of unemployment … popular argument that the NAIRU itself depends on the time-path of previous actual unemployment. This effect has been …
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