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Help wanted: The drivers and implications of labour shortages
Groiss, Martin; Sondermann, David - 2023
Labour shortages have become prevalent across advanced economies. Yet, little is known about which firms are more likely to face them and the impact they have on the labour market. We create a firm-level data set spanning 28 EU countries, 283 regions and 18 sectors, contributing to close this...
Persistent link: https://www.econbiz.de/10014543591
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Pensions and fertility: back to the roots - The introduction of Bismarck's pension scheme and the European fertility decline
Fenge, Robert; Scheubel, Beatrice - 2014
Fertility has long been declining in industrialised countries and the existence of public pension systems is considered … pension system depresses fertility. Our theoretical framework highlights that the effect of a public pension system on … fertility works via the impact of contributions in such a system on disposable income as well as via the impact on future …
Persistent link: https://www.econbiz.de/10011605779
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Pensions and Fertility : Back to the Roots -- The Introduction of Bismarck's Pension Scheme and the European Fertility Decline
Fenge, Robert - 2014
Fertility has long been declining in industrialised countries and the existence of public pension systems is considered … pension system depresses fertility. Our theoretical framework highlights that the effect of a public pension system on … fertility works via the impact of contributions in such a system on disposable income as well as via the impact on future …
Persistent link: https://www.econbiz.de/10013047746
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Climate transition risk in the banking sector: What can prudential regulation do?
Grill, Michael; Popescu, Alexandra; Rancoita, Elena - 2024
Climate-related risks are due to increase in coming years and can pose serious threats to financial stability. This paper, by means of a DSGE model including heterogeneous firms and banks, financial frictions and prudential regulation, first shows the need of climate-related capital requirements...
Persistent link: https://www.econbiz.de/10014543601
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Losers amongst the losers: The welfare effects of the Great Recession across cohorts
Ferrari, Alessandro - 2020
This paper studies the effect of deep recessions on intergenerational inequality by quantifying the welfare effects on households at different phases of the life cycle. Deep recessionary episodes are characterized by large declines in the prices of real and financial assets and in employment....
Persistent link: https://www.econbiz.de/10012422171
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Putting the New Keynesian DSGE model to the real-time forecasting test
Kolasa, Marcin; Rubaszek, Michał; Skrzypczyński, Paweł - 2009
Dynamic stochastic general equilibrium models have recently become standard tools for policy-oriented analyses. Nevertheless, their forecasting properties are still barely explored. We fill this gap by comparing the quality of real-time forecasts from a richly-specified DSGE model to those from...
Persistent link: https://www.econbiz.de/10011605156
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Real convergence and its illusions
Kolasa, Marcin - 2010
This paper uses the EAGLE, a multi-country dynamic general equilibrium model, to illustrate dynamic adjustments in a small open economy undergoing real convergence. We consider the effects of productivity catch-up and misperceptions about future productivity developments. Our results indicate...
Persistent link: https://www.econbiz.de/10011605277
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A decade (and a global financial crisis) after Blinder: The interaction between researchers and policy-makers in central banks
Bussière, Matthieu; Stracca, Livio - 2010
Periods of economic and financial stress traditionally give rise to profound changes in economic theory and in the way policy decisions are taken. Motivated by the recent interest in renewing macroeconomics after the global financial crisis, we collected the views of senior central bank staff in...
Persistent link: https://www.econbiz.de/10011605306
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Interest rate effects of demographic changes in a New-Keynesian life-cycle framework
Kara, Engin; von Thadden, Leopold - 2010
This paper develops a small-scale DSGE model which embeds a demographic structure within a monetary policy framework. We extend the tractable, though non-monetary overlapping-generations model of Gertler (1999) and present a small synthesis model which combines the set-up of Gertler with a...
Persistent link: https://www.econbiz.de/10011605319
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Interest Rate Effects of Demographic Changes in a New-Keynesian Life-Cycle Framework
Kara, Engin - 2010
This paper develops a small-scale DSGE model which embeds a demographic structure within a monetary policy framework. We extend the tractable, though non-monetary overlapping-generations model of Gertler (1999) and present a small synthesis model which combines the set-up of Gertler with a...
Persistent link: https://www.econbiz.de/10013135617