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Economic policy interventions of a scale as effected in eastern Germany can be expected to have a significant impact on …
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restrictive and sometimes pro-cyclical fiscal policies and overly moderate wage policies in Germany since the mid 1990s. This view … Germany urgently needs more expansive fiscal and monetary policies in the short run, and that in the medium run the conditions … for nominal wage growth in Germany according to the sum of long run national productivity growth and the ECB's inflation …
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Four alternative but related approaches to empirical evaluation of policy interventions are studied: social experiments, natural experiments, matching methods, and instrumental variables. In each case the necessary assumptions and the data requirements are considered for estimation of a number...
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