The endorsement of expansionary fiscal packages has often been based on the idea that large multipliers can contrast rising unemployment. Is that really the case? We explore those issues in a New Keynesian model in which unemployment arises because of matching frictions. We compare fiscal...

Efficient routines for multidimensional numerical integration are provided by quasi-Monte Carlo methods. These methods are based on evaluating the integrand at a set of representative points of the integration area. A set may be called representative if it shows a low discrepancy. However, in...

In the paper, some empirical results from a macroeconometric disequilibrium model for the Federal Republic of Germany are reported. In the theoretical model, a delayed adjustment of employment and investment is analyzed. Market disequilibrium is introduced by allowing for a sluggish adjustment...