Many economic decisions implicitly or explicitly rely on a projection of the medium- or long-term economic development of a country or region. In this paper, we provide a federal long-run projection model for Germany and the German states. The model fea-tures a top-down approach and, as major...

The study evaluates different ESF-funded labour market programmes by comparing the labour market status at different points in time after the treatment. In order to solve the selection problem we employ a standard matching algorithm with a multi-dimensional distance measure. The effects of the...

The evaluation of economic effects of workers participation is not simple from the methodical point of view because of specific characteristics of establishments with works councils. Especially recent studies show contradictory results. In this study problems are pointed out, discussed, and...

Many empirical studies consider either training activities of the unemployed or training activities of the employees in Germany. However, a comprehensive comparison of both groups is missing. The paper closes this gap. Using data of the latest time use survey (Zeitbudgeterhebung) of the Federal...

The paper evaluates the effects of two labor market programs in Germany, namely the Job Creation- /Structural Adjustment Scheme and Vocational Training, on the unemployment duration of long term unemployed persons. The study uses data from the Mikrozensus Sachsen. A two step...

This study evaluates the effects of further training on the individual unemployment duration of different groups of persons representing individual characteristics and some aspects of the economic environment. The Micro Census Saxony enables us to include additional information about a person's...

Informationally efficient prices are a necessary requirement for optimal resource allocation in the real estate market. Prices are informationally efficient if they reflect buildings’ benefit to marginal buyers, thereby taking account of all available information on future market development....

The economic and financial crisis that emerged in 2008 also initiated an intense discussion on macroeconomic research and the role of economists in society. The debate focuses on three main issues. Firstly, it is argued that economists failed to predict the crisis and to design early warning...

This paper analyzes the role of common data problems when identifying structural breaks in small samples. Most notably, we survey small sample properties of the most commonly applied endogenous break tests developed by Brown, Durbin, and Evans (1975) and Zeileis (2004), Nyblom (1989) and Hansen...

In this paper we develop a small open economy model explaining the joint determination of output, inflation, interest rates, unemployment and the exchange rate in a multi-country framework. Our model – the Halle Economic Projection Model (HEPM) – is closely related to studies recently...