Empirical studies support the hysteresis hypothesis that recessions have a permanent effect on the level of output. We analyze the implications of hysteresis for fiscal policy in a DSGE model. We assume a simple learning-by-doing mechanism where demand-driven changes in employment can affect the level of productivity permanently, leading to hysteresis in output. We show that the fiscal output multiplier ...
Welche Zuwanderer sollten nach Deutschland kommen dürfen? Auf Basis einer repräsentativen Umfrage zeigen wir, dass sich die Meinungen der Befragten mit dem geltenden Recht und seiner philosophischen Begründung durch Kant decken. (1) Sie plädieren trotz erwarteter Nachteile für eine Aufnahme von Flüchtlingen, solange legitime Fluchtgründe bestehen. (2) Zu regulären Migranten überwiegen Nützlichkeitsüberlegungen: ...
Despite political efforts, balancing work and family life is still challenging. This paper provides novel evidence on the effect of firm level interventions that seek to reduce the work-life conflict. The focus is on how a specific workplace policy, namely childcare support, affects the well-being, working time, and caring behavior of mothers with young children. We exploit the fact that since the ...
Last week, 16 PhD graduates received their certificates. With a festive ceremony, the new PhDs were honored by DIW Berlin President Marcel Fratzscher and outgoing Graduate Center Dean Helmut Lütkepohl. We wish each and every one much success with their future careers! Video
