In this paper we estimate a simple New-Keynesian DSGE model with German data for the sample period 1970:q1 to 1998:q4. Contrary to a number of recent similar papers estimated with US and euro-area data, we find that real money balances contribute significantly to the determination of inflation...

In this paper we estimate a simple New-Keynesian DSGE model with German data for the sample period 1970:q1 to 1998:q4. Contrary to a number of recent similar papers estimated with US and euro-area data, we find that real money balances contribute significantly to the determination of inflation...

In this paper we estimate a simple New-Keynesian DSGE model withIn diesem Diskussionspapier schätzen wir ein einfaches Neukeynesianisches dynamisches Gleichgewichtsmodel für deutsche Daten und den Zeitraum zwischen dem ersten Quartal 1970 und dem letzten Quartal 1998. Im Unterschied zu einer Reihe

This paper considers the distributional dynamics of a well‐known corruption index. Specifically, we are interested in evaluating whether corruption is best characterized as multimodal (i.e. pointing to clusters of countries with persistently different levels of corruption) and whether there...

This paper considers the distributional dynamics of a well-known corruption index. Specifically, we are interested in evaluating whether corruption is best characterized as multimodal (i.e. pointing to clusters of countries with persistently different levels of corruption) and whether there have...

We develop a horizontal R&D growth model that allows us to investigate the different channels through which financial reforms affect R&D investment and patent activity. First, a "micro" reformthat abolishes barriers to entry in the banking sector produces a straightforward result: a decrease in...

We contribute a new method for dealing with the problem of endogeneity of the threshold variable in threshold vector auto-regression (TVAR) models. Drawing on copula theory, enables us to capture the dependence structure between the threshold variable and the vector of TVAR innovations,...