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This paper estimates a medium-scale open economy DSGE model for Germany and the rest of the Euro Area (REA). The … parameter estimates indicate that there is a modest degree of structural heterogeneity between Germany and the rest of the Euro … Area. In particular, (i) the private sector in Germany tends to adjust its capital stock faster than its counterpart in the …
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We decompose the persistent satisfaction gap between East and West Germany into effects of objective circumstances and …
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We combine particular features of the German civil service with the unique event of German reunification to test the theory of precautionary savings and to quantify the importance of self-selection into occupations due to differences in risk aversion. In the presence of self-selection, failing...
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This paper presents an estimated DSGE model for the European Monetary Union. Our approach, contrary to the previous studies, accounts for heterogeneity within the euro area. We advance the empirical literature by estimating an open-economy model with unfiltered data, which is a much more...
Persistent link: https://www.econbiz.de/10003300280