The German economy is running at full steam. Economic activity has further accelerated in the current year and leading indicators suggest that the rapid pace of expansion will continue in the coming year. We expect gross domestic product (GDP) to grow by 2.3 percent in 2017 (calendar-adjusted:...

Assuming inflation is a forward variable in Taylor (1999) model, this paper finds opposite policy rule recommandations with counter-cyclical policy rule parameters (Taylor principle: inflation rule larger than one and bounded upwards) in the case of optimal policy under commitment versus...

A standard model of activist macroeconomic policy derives a monetary reaction rule by assuming that governments have performance objectives, but are constrained by an augmented Phillips curve. In addition to monetary policy, governments apply a variety of instruments to influence inflation and...

Wachstum und Konjunktur − Begriffe, Erfahrungen und Hypothesen -- Ziele der Konjunkturpolitik -- Instrumente der Konjunkturpolitik -- Grundsätzliche Überlegungen zur Verstetigungspolitik -- Automatische und halbautomatische Verstetigungsmechanismen -- Diskretionäre Konjunkturpolitik im...