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Why Germany Has Such a Weak Growth Performance

Siebert, Horst - Institut für Weltwirtschaft (IfW) - 2003

Germany has had an extremely low growth performance since 1995. The paper looks at the long-run reasons for this loss of economic dynamics besides German unification: These include leaving labor idle, a declining share of investment in GDP, a weaker innovative activity, an ineffective system for...

Persistent link: https://www.econbiz.de/10005818909

DSGE Models and Central Banks

Tovar, Camilo Ernesto - Institut für Weltwirtschaft (IfW) - 2008

Over the past 15 years there has been remarkable progress in the specification and estimation of dynamic stochastic general equilibrium (DSGE) models. Central banks in developed and emerging market economies have become increasingly interested in their usefulness for policy analysis and...

Persistent link: https://www.econbiz.de/10005083409

Unions Power, Collective Bargaining and Optimal Monetary Policy

Faia, Ester; Rossi, Lorenza - Institut für Weltwirtschaft (IfW) - 2009

fluctuations relatively to a DNK model with walrasian labour markets. The optimal monetary policy must trade-off counteracting …

Persistent link: https://www.econbiz.de/10005076091

An Iron Law of Currency Crises: The Divergence of the Nominal and the Real Exchange Rate and Increasing Current Account Deficits

Siebert, Horst - Institut für Weltwirtschaft (IfW) - 2002

The currency crises of the 1990s all exhibit a divergence of the nominal and the real exchange rate together with an increase in the negative current account. The nominal rate does not reflect inflation differences fully and the ensuing real appreciation leads to a negative current account. This...

Persistent link: https://www.econbiz.de/10005700507

Sticky Information vs. Sticky Prices: A Horse Race in a DSGE Framework

Trabandt, Mathias - Institut für Weltwirtschaft (IfW) - 2007

How can we explain the observed behavior of aggregate inflation in response to e.g. monetary policy changes? Mankiw and Reis (2002) have proposed sticky information as an alternative to Calvo sticky prices in order to model the conventional view that i) inflation reacts with delay and gradually...

Persistent link: https://www.econbiz.de/10005700564

Macroeconomic Interval Forecasting: The Case of Assessing the Risk of Deflation in Germany

Borbély, Dora; Meier, Carsten-Patrick - Institut für Weltwirtschaft (IfW) - 2003

This paper proposes an approach for estimating the uncertainty associated with model-based macroeconomic forecasts. We argue that estimated forecast intervals should account for the uncertainty arising from selecting the specification of an empirical forecasting model from the sample data. To...

Persistent link: https://www.econbiz.de/10005700569

China and the G-21: A New North-South Divide in the WTO After Cancún?

Langhammer, Rolf J. - Institut für Weltwirtschaft (IfW) - 2004

big players. Thus, China would be well-advised to remain unconstrained in its trade policies and does not become member of …

Persistent link: https://www.econbiz.de/10005076099

The Distance Puzzle: On the Interpretation of the Distance Coefficient in Gravity Equations

Buch, Claudia M.; Kleinert, Jörn; Toubal, Farid - Institut für Weltwirtschaft (IfW) - 2003

Globalization seems to have diminished the importance of geographical distance. However, empirical studies find that distance coefficients in gravity equations change little over time. This paper argues that changes in distance coefficients do not carry much information on changes in distance...

Persistent link: https://www.econbiz.de/10005700516

Where Enterprises Lead, People Follow? Links between Migration and German FDI

Buch, Claudia M.; Kleinert, Jörn; Toubal, Farid - Institut für Weltwirtschaft (IfW) - 2003

and trade in goods. From a theoretical point of view, the interaction between the different channels of integration can …

Persistent link: https://www.econbiz.de/10005818795

Wechselkursunsicherheit und Außenhandel: Eine Analye der theoretischen Literatur

Fischer, Malte - Institut für Weltwirtschaft (IfW) - 1997

The impact of exchange rate uncertainty on international trade has been discussed controversially in economic policy … the influence of exchange rate uncertainty on trade, conclude that exchange rate uncertainty has a negative impact on the … trade volume and may induce changes of the prices of traded goods. These results, however, are due to the very restrictive …

Persistent link: https://www.econbiz.de/10009276144