The focus of this paper is the empirical evaluation of the German Accelerated Vehicle Retirement program, that was implemented in January 2009 to stimulate automobile consumption. In order to adress this question a unique monthly dataset of new car registrations owned by private consumers from...

We develop a tractable macroeconomic model with employment risk and labor market search in order evaluate the effects of labor market reform on unemployment, growth, and welfare. The model has a large number of risk-averse households who can invest in risk-free physical capital and risky human...