Die deutsche Wirtschaft befindet sich in einer schwierigen Gemengelage aus konjunktureller Schwäche und strukturellem Wandel. Der anhaltende Auftragsmangel im Verarbeitenden Gewerbe, der zunehmende internationale Wettbewerb und die mittlerweile ebenfalls schwächelnden industrienahen Dienstleistungen schlagen inzwischen auch auf den Arbeitsmarkt durch und führen nicht nur zu Kurzarbeit, sondern trotz ...
The German economy is stuck in a difficult position as it faces both slow growth as well as structural change. The continuing lack of orders in manufacturing, increasing international competition, and sluggish development in industry-related services are now affecting the labor market and leading not only to short-time work but to layoffs too, despite the continuing skilled worker shortage. While GDP ...
We show that in a New Keynesian model with household heterogeneity, fiscal policy can be a perfect substitute for monetary policy: three simple conditions for consumption taxes, labor taxes, and the government debt level are sufficient to induce the same consumption and labor supply of each household and, thus, the same allocation as interest rate policies. When monetary policy is constrained by a ...