This paper analyses the accession to the Euro-Area by new members using a stylized new-Keynesian model. We analyze macro-economic adjustment in the pre- and post accession case and calculate welfare in both…
This paper analyzes monetary policy in a stylized New-Keynesian model. A number of issues are focused upon: (i) optimal monetary policy under commitment or discretion versus ad-hoc monetary policy based on…
Contributions to Edited Volumes and Conference Proceedings
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2007
In Germany, the streaming of students into an academic or nonacademic track at age 10 can be revised at later stages of secondary education. To investigate the importance of such revisions, we use administrative…
Deutlicher Preisanstieg im Strassengüterverkehr erwartet
Die Kosten für Gütertransporte mit dem Lkw werden im kommenden halben Jahr in Deutschland deutlich steigen. Im internationalen Kombinierten Verkehr sowie…
The paper examines real and nominal wage rigidities. We estimate a switching regime model, in which the observed distribution of individual wage changes, computed from West German register data for 1976-1997,…
