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Previous assessments of nominal exchange rate determination have focused upon a narrow set of models typically of the 1970 s vintage, including monetary and portfolio balance models. In this paper we re-assess the in-sample fit and out-of-sample prediction of a wider set of models that have been...
Persistent link: https://www.econbiz.de/10011507659
Survey data from the United States, West Germany and East Germany are analyzed to compare individual attitudes towards … political redistribution in each country. In West Germany the homo oeconomicus effect , the social rivalry effect and the public … effect disappears. In East Germany both the second and the third effect disappear. …
Persistent link: https://www.econbiz.de/10009780207
Persistent link: https://www.econbiz.de/10011409015
This note provides evidence for the relationship between income comparisons and subjective well-being (SWB), using novel German data on self-reported comparison intensity and perceived relative income for seven reference groups. We find negative correlations between comparison intensity and SWB...
Persistent link: https://www.econbiz.de/10011346880
Persistent link: https://www.econbiz.de/10009781501
Based on explicit present value calculations, the paper criticizes the view that the PAYGO system wastes economic resources. In present value terms, there is nothi ng to be gained from a transition to a funded system even though the latter offers a permanently higher rate of return. The sum of...
Persistent link: https://www.econbiz.de/10009781690
and Germany to condition the relationship between real wages and business fluctuations on the phase of the cycle, it is … general, the evidence for countercyclical wages is stronger in Germany than for the US, but taken together there is no clear …
Persistent link: https://www.econbiz.de/10011449261
We analyze current account imbalances through the lens of the two largest surplus countries; China and Germany. We … its current account surplus, Germany’s surplus has continued to increase throughout and after the crisis. Second, for … turned from being undervalued to overvalued, Germany’s currency has erased its level of overvaluation and become undervalued …
Persistent link: https://www.econbiz.de/10012024585
treatments in Switzerland using identical survey techniques previously used in Germany and the United States. In Switzerland …
Persistent link: https://www.econbiz.de/10012123030
Daily data from the German and U.S. equity markets before and after the introduction of the Euro are used to study the effect of exchange rate regime choices on equity markets. It is found that, since the introduction of the Euro, the volatility and the persistence of the German stock index have...
Persistent link: https://www.econbiz.de/10011397990