Hat man im den letzten Jahren insbesondere versucht, die Gewinne der Unternehmen über Kosteneinsparungen zu steigern, so steht heute bei vielen Managern das Wachstum wieder ganz oben auf der Agenda. Damit dieses Wachstum langfristig zu Gewinnen führt, muss es nachhaltig gestaltet werden....

This paper examines to what extent the build-up of "global imbalances" since the mid-1990s can be explained in a purely real open-economy DSGE model in which agents' perceptions of long-run growth are based on filtering observed changes in productivity. We show that long-run growth estimates...

Since the so-called Hartz IV reforms around 2005 and during the global crisis of 2008/2009, the German labor market featured mainly declining unemployment rates. We develop a search and matching model with heterogeneous skills to explore the role of structural and cyclical policies for this...

We provide an analysis that might help distinguish rationally justified movements in house prices from potentially non-rational movements, using a two-sector business cycle model, in which investment in housing is subject to collateral constraints. A large portion of the evolution of U.S. house...