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A forecast comparison of volatility models: does anything beat a GARCH(1,1)? ...
We compare 330 ARCH-type models in terms of their ability to describe the conditional variance. The models are compared out-of-sample using DM?$ exchange rate data and IBM... -
How well do Markov switching models describe actual business cycles? The case...
The objective of this paper is to evaluate the effectiveness of using a Markov switching model to measure the synchronization of business cycles. We use a Bayesian, Gibbs... -
Monitoring structural change in dynamic econometric models (replication data)
The classical approach to testing for structural change employs retrospective tests using a historical data set of a given length. Here we consider a wide array of... -
Did the German minimum wage reform influence (un)employment growth in 2015? E...
Using the variation across space, age and sex and the variation across space and sectors, we analyze the relationship between the minimum wage and (un-)employment growth in... -
The Effects of Germany’s New Minimum Wage on Employment and Welfare Dependency
In January 2015, Germany introduced a federal, statutory minimum wage of 8.50 Euro per hour. This study evaluates the effects of this policy on regular and marginal employment... -
Worker Personality: Another Skill Bias beyond Education in the Digital Age
We present empirical evidence suggesting that technological progress in the digital age will be biased not only with respect to skills acquired through education but... -
Wage Performance of Immigrants in Germany
This paper updates and deepens our understanding of the wage performance of immigrants in Germany. Using the German Socio-Economic Panel, it documents that immigrant workers... -
Public Preferences for Government Spending Priorities: Survey Evidence from G...
Employing data from a representative survey conducted in Germany, this paper examines public preferences for the size and composition of government expenditure. We focus on...
