This paper constitutes an interim report on the development of a macroeconometric disequilibrium model. Despite several caveats the model as it stands can be used already for two purposes. First, it is possible to investigate the models forecasting abilities. While the estimation period of the...

The present paper is confined to a macroeconometric disequilibrium model for the Federal Republic of Germany. The model consists of three main building blocks: goods and labour markets and a monetary sector. Allowing for spillovers between goods and labour markets our main concern is to explain...

This paper deals with the importance of rationing for international trade flows. The analysis is based on a macroeconometric rationing model for the Federal Republic of Germany. Besides a theoretical treatment of various channels through which rationing occurs, an estimation of a rationing model...

This paper gives a short overview of the unemployment problem in Germany during the last decade. In a disequilibrium macroeconomic framework there are strong linkages between spillovers of domestic demand on trade flows and labor demand. In the econometric part of the paper these linkages are...

Dieser Beitrag untersucht die gesamtwirtschaftlichen Auswirkungen der Immigration von Gastarbeitern in die Bundesrepublik Deutschland im Rahmen eines makroökonometrischen Rationierungsmodells. Das Modell beruht auf einem expliziten Aggregationsansatz über Mikromärkte, auf denen...

This paper is devoted t.o an interpretation of both vacancy data and the Beveridgecurve. Officially reported vacancy data are critically reviewed. The theoretical foundation and empirical application of the Beveridge-curve is examined. We find that the Beveridge-curve is everything but a...

In this paper a variety of theories concerning the wage and price formation in Germany are tested. More specifically, wage and price equations are specified in a fairly general manner which nests several theoretical arguments (such as the target real wage bargaining model, hysteresis effects,...

In this paper, a dynamic decision model of the firm with a delayed adjustment of employment and investment is developed. Special attention is devoted to dynamic inefficiencies, i.e. underutilizations of the capital stock and labour hoarding. Market disequilibrium is introduced by allowing for a...

"Despite the currently improving economic forecasts, the present labour market situation in Germany does not look too good. Especially the high and further increasing unemployment in eastern Germany is a key problem for current economic policy. Rigidities on the labour market, which manifest...

Despite rapid economic integration and massive help from the Federal Government East German productivity catching up faded out in the nineties. This paper presents panel-data estimates of the productivity adjustment based on a production function framework and a stylized adjustment model of the...