Die zur Weltrezession ausgeweitete Finanzmarktkrise setzt im öffentlichen Diskurs auch die Wirtschaftswissenschaften unter Druck, ihre Erklärungs- und Beratungskompetenz werden bezweifelt. In Deutschland kulminiert die Debatte in einem leidenschaftlichen Streit um die künftige Ausrichtung der...

This paper provides a summary and a critical assessment of the evaluation studies on sectoral minimum wages in Germany, which were commissioned by the Federal Ministry of Labour and Social Affairs (BMAS). The evaluation of sectoral minimum wages is an important and successful example for the...

This paper investigates the effects of ordinal regressors in linear regression models. Each ordered categorical variable is interpreted as a rough measurement of an underlying continuous variable as it is often done in microeconometrics for the dependent variable. It is shown that using ordinal...

The polychoric correlation is an ML estimator for the correlation parameter between two latent variables. Each latent variable is only observed as an ordered categorical indicator. This estimator is based on an assumption on the joint distribution for the latent variables which in this case is...

In this paper, I review the literature on the formulation and estimation of dynamic stochastic general equilibrium (DSGE) models with a special emphasis on Bayesian methods. First, I discuss the evolution of DSGE models over the last couple of decades. Second, I explain why the profession has...

The economic analysis of sustainable consumption structures concentrates on the extent to which it is possible and recommendable to foster substitution of flows by stocks (improving the thermal quality of buildings, more energy-efficient transport systems). Also of relevance is the role that...

Verläßliche und rasch vorliegende Informationen über den zu erwartenden Absatz sind in einer rezessiven Phase für die Unternehmen besonders wichtig. An zwei neueren empirischen Untersuchungen wird gezeigt, daß bei durchaus vertretbarem Zeitaufwand treffsichere quantitative Ansätze...