The paper reviews the recent conduct of monetary policy and the central bank's rule-based behavior in Russia. Using different policy...

This paper explores the influence of wage and price staggering on monetary persistence. First, our analysis indicates that the degree...

The East German labor market has hardly made any progress since German reunification, despite massive migration flows and support from...

Based on a quarterly regulatory dataset for German banks from 1999 to 2004, this paper analyzes the effects of banks’ regulatory...

This paper provides a theoretical and quantitative analysis of various types of wellknown employment subsidies. Two important...

Based on a quarterly regulatory dataset for German banks from 1999 to 2004, this paper analyzes the effects of banks’ regulatory...

This paper addresses the question of why prolonged regional unemployment differentials tend to persist even after their proximate...

This paper analyzes the cost of disin‡ation under real wage rigidities in a micro- founded New Keynesian model. Unlike Blanchard and...

This paper analyses theoretically and empirically how employment subsidies should be targeted. We contrast measures involving...

This paper analyses theoretically and empirically how employment subsidies should be targeted. We contrast measures involving...

This paper explores the influence of wage and price staggering on monetary persistence. We show that, for plausible parameter values,...

This paper analyzes the cost of disinflations under real wage rigidities in a micro-founded New Keynesian model. The consensus is that...

This paper indicates that East Germany’s unemployment originates primarily in the labor market, caused by the fast wage adjustment...

It is common knowledge that the standard New Keynesian model is not able to generate a persistent response in output to temporary...

This paper shows that the German labor market is more volatile than the US labor market. Specifically, the volatility of the cyclical...

In the standard New Keynesian sticky price model the central bank faces no contradiction between the stabilization of inflation and...

This paper analyzes the effects of different labor market institutions on inflation and output volatility. The eurozone offers an...

This paper analyzes the role of the extensive vis-à-vis the intensive margin of labor adjustment in Germany and in the United States....

We study the design of optimal monetary policy in a New Keynesian model with labor turnover costs in which wages are set according to...

This paper presents a theory of the labor market matching process in terms of incentive-based, two-sided search among heterogeneous...