The role of human capital has so far not been well documented at the macroeconomic level. Many empirical studies lack a consistent theoretical foundation and there are measurement problems due to a very narrow concept of human capital focusing on formal education. Future empirical research...

The analysis provides a new explanation for two widespread problems concerning European unemployment policy: the disappointingly small effect of many past reform measures on unemployment, and the political difficulties in implementing more extensive reform programs. We argue that the heart of...

"Innovation und Technischer Fortschritt im Energiebereich" ist das Thema des Modellexperiment V des Forums für Energiemodelle. In diesem Zusammenhang sollen die am Experiment beteiligten Modelle in Bezug auf die Abbildung von technischem Fortschritt verbessert und unterschiedliche Szenarien...

This paper explores the optimal design of subsidies for hiring unemployed workers ('employment vouchers' for short) in the context of a dynamic model of the labor market. Focusing on the short-term and long-term effects of the vouchers on employment and unemployment, the analysis shows how the...

The analysis of climate change is confronted with large uncertainties that need to be taken into account to arrive at meaningful policy recommendations. The main contribution of economics to this interdisciplinary task is to provide formal frameworks and techniques for analyzing climate policy...