In this paper, we explore the connection between optimal monetary policy and heterogeneityamong agents. We study a standard monetary economy with two types of agents inwhich the stationary distribution of money holdings is non-degenerate. Sans type-specific fiscalpolicy, we show that the...

We study several popular monetary models which generate a non-degenerate stationary distribution of money holdings. Across these environments, our principal finding is as follows: a monetary policy that sets long run nominal interest rates to zero (the Friedman rule) does not typically maximize...

"The objective of this paper is to analyse the flexibility opportunities of firms to respond to increasing labour market requirements and heterogeneity. Thereby, we focus on two groups of workers and two kinds of management events. The two groups of workers are female and older workers, while...

"This paper summarizes the findings of studies which investigate the determinants of wages in Germany, using data of the German Socioeconomic Panel (GSOEP). The empirical analyses apply least squares estimates as well as the estimators developed by Altonji and Shakotko, Rev. Econ. Stud. 54, 437...

We introduce a new two-dimensional measure for the heterogeneity of performance within groups of economic units. This measure accounts both, for the relative performance of the single units of groups and their relative size. We demonstrate that the new measure leads to a much more differentiated...

This paper analyzes the distribution of technical efficiency within manufacturing industries. Using a representative sample of 35,000 firms in 255 industries of the German cost structure census, technical efficiencies are estimated by applying a deterministic frontier production function with...

Die bisherigen Untersuchungen über die Beziehung zwischen Heterogenität und Teamperformance zeichnen sich dadurch aus, dass reale Teams mit einer eigenen Teamidentität im Untersuchungsfokus stehen, deren Heterogenitäts- und Performancewerte in Form von Beobachtungsdaten erhoben werden. Teams...