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This paper develops a model with multiple steady states (low tax and unemployment rate versus high tax and unemployment rate) in which equilibrium selection is not conditioned on a sunspot variable. Instead, large enough shocks initiate unavoidable transitions from one regime to the other. The...
Persistent link: https://www.econbiz.de/10009635968
In this paper a simultaneous-equations model of firm closing and wage determination is specified in order to analyse how wages adjust to unfavorable product demand shocks that raise the risk of displacement through firm closing, and to what extent an exogenous wage change affects the exit...
Persistent link: https://www.econbiz.de/10009640400
This paper investigates a dynamic general equilibrium model with search. In particular, search externalities are reßected by an increasing returns to scale matching function, which may imply an indeterminate equilibrium. Hence, the model is capable to generate business ßuctuations, driven by...
Persistent link: https://www.econbiz.de/10009635902
In order to explain the joint fluctuations of output, inflation and the labor market, this paper first develops a general equilibrium model that integrates a theory of equilibrium unemployment into a monetary model with nominal price rigidities. Then, it estimates a set of structural parameters...
Persistent link: https://www.econbiz.de/10009636527
This Monitoring report on the implementation of FP6 during the year 2006 represents a unique endeavour, as it is … bridging from the traditional approach to monitoring in FP6 (and previous Framework Programmes) to the new requirements for … monitoring in FP7. …
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This first FP7 Monitoring Report covers the year 2007 and is the first one based on a completely new approach: While in … FP6 and previous Framework Programmes monitoring had been implemented through annual panels of independent experts which … selected specific areas of FP implementation and performance to analyse and report on, the FP7 monitoring system is designed as …
Persistent link: https://www.econbiz.de/10009639578
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