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* 22 Results

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    • Publications (22)
  • Topics

    • Business Cycle (3)
    • Business Cycle World (3)
    • Fiscal Policy & National Budgets (3)
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    • Working Paper (14)
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    • Macroeconomic Research (12)
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  • Tags: Business cycles
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  1. Publication

    A Reappraisal of the Inflation-Unemployment Tradeoff

    01.01.2005

    This paper offers a reappraisal of the inflation–unemployment tradeoff, based on frictional growth, describing the interplay between nominal frictions and money growth. When the money supply grows in the presence of price inertia (due to staggered...

  2. Publication

    The German Labor Market During the Great Recession: Shocks and Institutions

    24.05.2019

    This paper analyzes Germany’s unusual labor market experience during the Great Recession. We estimate a general equilibrium model with a detailed labo

  3. Publication

    Does Short-Time Work Save Jobs? A Business Cycle Analysis

    01.05.2016

    In the Great Recession most OECD countries used short-time work (publicly subsidized working time reductions) to counteract a steep increase in unemployment. We show that short-time work can actually save jobs. However, there is an important...

  4. Publication

    What drives Endogenous Growth in the United States?

    01.07.2010

    This paper estimates whether learning-by-doing effects or cleansing effects of recessions drive the endogenous component of productivity in the United States. Using Bayesian estimation techniques we find that external and internal learning-by-doing...

  5. Publication

    The European Phillips Curve: Does the NAIRU Exist?

    01.01.2003

    This paper has two aims. First, it provides simple theoretical models that highlight two channels whereby monetary shocks have permanent real effects and the interactions between these channels. Second, it presents an empirical dynamic model,...

  6. Publication

    On the (de)stabilizing effects of news shocks

    01.08.2009

    This paper analyzes the impacts of news shocks on macroeconomic volatility. Whereas anticipation amplifies volatility in any purely forward-looking model, such as the baseline New Keynesian model, the results are ambiguous when including a...

  7. Publication

    On the (de)stabilizing effects of news shocks

    01.03.2012

    This paper analyzes the impacts of news shocks on macroeconomic volatility. Whereas anticipation amplifies volatility in any purely forward-looking model, such as the baseline New Keynesian model, the results are ambiguous when including a...

  8. Publication

    Labour Market Asymmetries in a Monetary Union

    01.06.2007

    This paper takes a first step in analysing how a monetary union performs in the presence of labour market asymmetries. Differences in wage flexibility, market power and country sizes are allowed for in a setting with both country-specific and...

  9. Publication

    Evaluating the performance of the search and matching model with sticky wages

    01.01.2011

    Several authors have proposed staggered wage bargaining as a way to introduce sticky wages into search and matching models while preserving individual rationality. I evaluate the quantitative implications of such an approach. I feed through a series...

  10. Publication

    Does Short-Time Work Save Jobs? A Business Cycle Analysis

    01.02.2013

    This paper analyzes the effects of short-time work (i.e., government subsidized working time reductions) on unemployment and output fluctuations. The central question is whether the rule based component (i.e., the existence of the institution...

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