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Can Germany’s economy stage an unexpected recovery?Steffen MüllerThe Economist, January 30, 2025
In countries of the eurozone periphery, payments are typically delayed by several weeks. In a first step, this characteristic is introduced into a new Keynesian small open economy model by the assumption that consumption goods are paid for with a delay of one quarter.
The Global Financial Stability Report provides an assessment of the global financial system and markets, and addresses emerging market financing in a global context.
This paper studies the effects of a series of reforms of the public pension system in Austria in 2000 and 2004.
This paper develops a dynamic evaluation approach in discrete time to estimate the impact of training programs for the unemployed on employment transitions.
The latest global survey on relative prices and income levels, for the year 2011, showed changes to relative income levels that were larger in lower-income countries, thereby narrowing the world income distribution compared to estimates based on the 2005 survey.
Existing empirical studies on the effect of monetary policy on bank lending almost exclusively focus on a closed economy setting and ignore the interactions between domestic monetary policy and international financial markets.
This study examines dynamics of solo self-employment. In particular, we investigate the extent of true state dependence and cross state dependence, i.e., whether experiencing solo self-employment causally affects the probability of becoming an employer in the future.
We show that in the overlapping generations model, global financial integration may lead to higher levels of public debt by externalizing its crowding-out effect.
The Halle Institute for Economic Research (IWH) and the International Network for Economic Research (INFER) were organising a workshop on risk spillover, current challenges for sustainable fiscal policy, and evaluations of pan-European transfers.
We offer new evidence on the real effects of credit shocks in the presence of employment protection regulations by exploiting a unique provision in Spanish labor laws: dismissal rules are less stringent for Spanish firms with fewer than 50 employees, lowering the cost of hiring new workers.
