The German unemployment rate shows strong signs if non-stationarity over the course of the previous decades. This is in line with an insider-outsider model under full hysteresis. We applied a "theory-guided view" to the data using the structural VAR model as developed by Balmaseda, Dolado and López-Salido (2000) allowing for full hysteresis on the labour market. Our identification of the model implies ...
Typically, laboratory experiments suffer from homogeneous subject pools and selfselection biases. The usefulness of survey data is limited by measurement error and by the questionability of their behavioral relevance. Here we present a method integrating interactive experiments and representative surveys thereby overcoming crucial weaknesses of both approaches. One of the major advantages of our approach ...
Die experimentelle Ökonomie führt typischerweise Labor-Untersuchungen durch, die mit homogenen und selektiven Versuchspersonen arbeiten. Repräsentative Surveys leiden hingegen unter Messfehlern und der Frage, ob hypothetisches Verhalten, das erhoben wird, mit tatsächlichem Verhalten korrespondiert. Deswegen präsentieren wir eine Methode, mit der man die Schwächen beider Ansätze überwindet, indem man ...