The legal regulations require the minimum wage in Germany to be adjusted biennially which gives rise to a policy discontinuity. From the perspective of rational expectations models, such policy features render standard local approximation techniques infeasible. The paper presents a stylised...

The legal regulations require the minimum wage in Germany to be adjusted biennially which gives rise to a policy discontinuity. From the perspective of rational expectations models, such policy features render standard local approximation techniques infeasible. The paper presents a stylised...

Expectations formation of future output fluctuations as a factor for explaining CostaRican business cycle is the main subject addressed in this paper. The main contributionof this research is the proposition of an econometric model for estimating the effect thatan increase in the next quarter...

В статье проанализированы динамические свойства разработанных эконометрических моделей потребления, которые в условиях нестабильности и структурных...