Distributional National Accounts: a Macro-Micro Approach to Inequality in Germany
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Estimating the Effects of Fiscal Policy in OECD Countries
Estimating the e®ects of ¯scal policy in OECD countries Roberto Perotti¤ This version: November 2004 Abstract This paper studies the e®ects of ¯scal policy on GDP, in°ation and interest rates in 5 OECD countries, using a structural Vector Autoregression approach. Its main results can be summarized as follows: 1) The e®ects of ¯scal policy on GDP tend to be small: government spending multipliers larger than 1 can be estimated only in the US in the pre-1980 period. 2) There is no evidence that tax cuts work faster or more e®ectively than spending increases. 3) The e®ects of government spending shocks and tax cuts on GDP and its components have become substantially weaker over time; in the post-1980 period these e®ects are mostly negative, particularly on private investment. 4) Only in the post-1980 period is there evidence of positive e®ects of government spending on long interest rates. In fact, when the real interest rate is held constant in the impulse responses, much of the decline in the response of GDP in the post-1980 period in the US and UK disappears. 5) Under plausible values of its price elasticity, government spending typically has small e®ects on in°ation. 6) Both the decline in the variance of the ¯scal shocks and the change in their transmission mechanism contribute to the decline in the variance of GDP after 1980. ¤IGIER - Universitµa Bocconi and Centre for Economic Policy Research. I thank Alberto Alesina, Olivier Blanchard, Fabio Canova, Zvi Eckstein, Jon Faust, Carlo Favero, Jordi Gal¶³, Daniel Gros, Bruce Hansen, Fumio Hayashi, Ilian Mihov, Chris Sims, Jim Stock and Mark Watson for helpful comments and suggestions. -
Introduction to Macroeconomics Lecture Notes
Introduction to Macroeconomics Lecture Notes Robert M. Kunst March 2006 1 Macroeconomics Macroeconomics (Greek makro = ‘big’) describes and explains economic processes that concern aggregates. An aggregate is a multitude of economic subjects that share some common features. By contrast, microeconomics treats economic processes that concern individuals. Example: The decision of a firm to purchase a new office chair from com- pany X is not a macroeconomic problem. The reaction of Austrian house- holds to an increased rate of capital taxation is a macroeconomic problem. Why macroeconomics and not only microeconomics? The whole is more complex than the sum of independent parts. It is not possible to de- scribe an economy by forming models for all firms and persons and all their cross-effects. Macroeconomics investigates aggregate behavior by imposing simplifying assumptions (“assume there are many identical firms that pro- duce the same good”) but without abstracting from the essential features. These assumptions are used in order to build macroeconomic models.Typi- cally, such models have three aspects: the ‘story’, the mathematical model, and a graphical representation. Macroeconomics is ‘non-experimental’: like, e.g., history, macro- economics cannot conduct controlled scientific experiments (people would complain about such experiments, and with a good reason) and focuses on pure observation. Because historical episodes allow diverse interpretations, many conclusions of macroeconomics are not coercive. Classical motivation of macroeconomics: politicians should be ad- vised how to control the economy, such that specified targets can be met optimally. policy targets: traditionally, the ‘magical pentagon’ of good economic growth, stable prices, full employment, external equilibrium, just distribution 1 of income; according to the EMU criteria, focus on inflation (around 2%), public debt, and a balanced budget; according to Blanchard,focusonlow unemployment (around 5%), good economic growth, and inflation (0—3%). -
Zwischen Bullay " Traben)Trarbach ... Die Region Entdecken
Freizeitbrosch re_MWB_2005.qxd 27.02.2006 16:17 Seite 1 www.der-takt.de Zwischen Bullay & Traben-Trarbach ... die Region entdecken Moselwein-Bahn Freizeitbrosch re_MWB_2005.qxd 27.02.2006 16:17 Seite 2 www.der-takt.de Liebe Fahrgäste, Inhalt zwischen Eifel und Hunsrück schafft die Mosel ein atembe- Übersichtskarte Rheinland-Pfalz Nord . .4 raubendes Landschaftsbild, das von Weinbergen und male- Bullay . .6 rischen Weindörfern geprägt wird. Diese Region mit ihren Reil . .9 romantischen Städten und ihrer faszinierenden Natur bietet Kövenig . .12 Ihnen eine Vielzahl an Freizeitaktivitäten. Traben-Trarbach . .15 Rund um die Mosel Die Freizeitbroschüre „Moselwein-Bahn“ bringt Ihnen die Moselradweg . .18 Faszination und Schönheit der Region um die Mittelmosel Von der Bahn aufs Schiff . .20 näher. Neben Informationen zu Bullay, Reil, Kövenig und Rheinland-Pfalz Ticket . .22 Traben-Trarbach finden Sie hier Ausflugstipps in die nähere Infostellen . .23 Umgebung sowie attraktive Möglichkeiten zur Freizeitge- staltung. Hinweise auf jährlich stattfindende Veranstaltun- gen sollen Ihnen bei der Wahl Ihres Ziels helfen. Dabei haben wir natürlich darauf geachtet, dass Sie alle Ziele gut Streckenübersicht: mit Bus und Bahn erreichen können. In nur knapp 20 Minuten von Bullay nach Traben-Trarbach oder auch zurück – da bleibt genug Zeit, die Region zu ent- decken! Wir wünschen Ihnen eine gute Fahrt. trans regio Zweckverband Deutsche Regionalbahn GmbH SchienenPersonenNahVerkehr Rheinland-Pfalz Nord 2 3 Freizeitbrosch re_MWB_2005.qxd 27.02.2006 16:17 Seite 4 www.der-takt.de Übersichtskarte Rheinland-Pfalz Nord 4 5 Freizeitbrosch re_MWB_2005.qxd 27.02.2006 16:17 Seite 6 www.der-takt.de Bullay Die Gemeinde Bullay ist mit ihren 1.500 Einwohnern das sturm. -
A Structural Model of the Unemployment Insurance Take-Up
A Structural Model of the Unemployment Insurance Take-up Sylvie Blasco∗ Fran¸coisFontainey GAINS, University of Aarhus, BETA-CNRS, CREST and IZA LMDG and IZA. January 2012 - IN PROGRESSz Abstract A large fraction of the eligible workers do not claim the unemployment insurance when they are unemployed. This paper provides a structural framework to identify clearly, through the esti- mates, the economic mechanisms behind take-up. It incorporates take-up in a job search model and accounts for the determinants of claiming, especially the level of the unemployment benefits and the practical difficulties to make a claim. It provides a simple way to model selection into participation and sheds new light on the link between the job search and the claiming efforts. We estimate our model using a unique administrative dataset that matches a linked employer - employee data and the records of the national employment agency. Keywords: Unemployment Insurance Take-up, Job Search JEL Classification numbers: J64, J65, C41 ∗Address : Universit´e du Maine, Av. Olivier Messiaen, 72085 Le Mans Cedex 9, France ; Email: [email protected] yUniversity of Nancy 2, Email: [email protected]. zWe thank Jesper Bagger, Sebastian Buhai, Sam Kortum, David Margolis, Dale Mortensen, Fabien Postel-Vinay, Jean-Marc Robin, Chris Taber and participants at the Tinbergen Institute internal seminar, CREST-INSEE, Nancy and Royal Holloway seminars, the ESEM conference, the AFSE, IZA-Labor Market Policy Evalation, LMDG, T2M workshops for comments and discussions. This is a preliminary version of the paper, the readers are invited to check on the authors' websites for newer versions. -
Reducing Income Inequality While Boosting Economic Growth: Can It Be Done?
Economic Policy Reforms 2012 Going for Growth © OECD 2012 PART II Chapter 5 Reducing income inequality while boosting economic growth: Can it be done? This chapter identifies inequality patterns across OECD countries and provides new analysis of their policy and non-policy drivers. One key finding is that education and anti-discrimination policies, well-designed labour market institutions and large and/or progressive tax and transfer systems can all reduce income inequality. On this basis, the chapter identifies several policy reforms that could yield a double dividend in terms of boosting GDP per capita and reducing income inequality, and also flags other policy areas where reforms would entail a trade-off between both objectives. 181 II.5. REDUCING INCOME INEQUALITY WHILE BOOSTING ECONOMIC GROWTH: CAN IT BE DONE? Summary and conclusions In many OECD countries, income inequality has increased in past decades. In some countries, top earners have captured a large share of the overall income gains, while for others income has risen only a little. There is growing consensus that assessments of economic performance should not focus solely on overall income growth, but also take into account income distribution. Some see poverty as the relevant concern while others are concerned with income inequality more generally. A key question is whether the type of growth-enhancing policy reforms advocated for each OECD country and the BRIICS in Going for Growth might have positive or negative side effects on income inequality. More broadly, in pursuing growth and redistribution strategies simultaneously, policy makers need to be aware of possible complementarities or trade-offs between the two objectives. -
Streckenkarte Regionalverkehr Rheinland-Pfalz / Saarland
Streckenkarte Regionalverkehr Rheinland-Pfalz / Saarland Niederschelden Siegen Mudersbach VGWS FreusburgBrachbach Siedlung Eiserfeld (Sieg) Niederschelden Nord Köln ten: Kirchen or Betzdorf w Au (Sieg) ir ant Geilhausen Hohegrete Etzbach Köln GrünebacherhütteGrünebachSassenroth OrtKönigsstollenHerdorf Dillenburg agen – w Breitscheidt WissenNiederhövels (Sieg)Scheuerfeld Alsdorf Sie fr Schutzbach “ Bonn Hbf Bonn Kloster Marienthal Niederdreisbach ehr Köln Biersdorf Bahnhof verk Obererbach Biersdorf Ort Bonn-Bad Godesberg Daaden 0180 t6 „Na 99h 66 33* Altenkirchen (Ww) or Bonn-Mehlem Stichw /Anruf Rolandseck Unkel Büdingen (Ww) Hattert Oberwinter Ingelbach Enspel /Anruf aus dem Festnetz, HachenburgUnnau-Korb Bad BodendorfRemagen Erpel (Rhein) *20 ct Ahrweiler Markt Heimersheim Rotenhain Bad Neuenahr Walporzheim Linz (Rhein) Ahrweiler bei Mobilfunk max. 60 ct Nistertal-Bad MarienbergLangenhahn VRS Dernau Rech Leubsdorf (Rhein) Westerburg Willmenrod Mayschoß Sinzig Berzhahn Altenahr Bad Hönningen Wilsenroth Kreuzberg (Ahr) Bad Breisig Rheinbrohl Siershahn Frickhofen Euskirchen Ahrbrück Wirges Niederzeuzheim Brohl Leutesdorf NeuwiedEngers Dernbach Hadamar Köln MontabaurGoldhausenGirod Steinefrenz Niederhadamar Namedy Elz Andernach Vallendar Weißenthurm Urmitz Rheinbrücke Staffel Miesenheim Dreikirchen Elz Süd Plaidt Niedererbach Jünkerath Mendig KO-Lützel Limburg (Lahn) KO-Ehrenbreitstein Diez Ost Gießen UrmitzKO-Stadtmitte Thür Kruft Diez Eschhofen Lissendorf Kottenheim KO-Güls Niederlahnstein Lindenholzhausen Winningen (Mosel) BalduinsteinFachingen -
Causality and Interdependence in Pasinetti's Works and in the Modern
Causality and interdependence in Pasinetti’s works and in the modern classical approach Enrico Bellino and Sebastiano Nerozzi Centro Sraffa Working Papers n. 10 January 2015 ISSN: 2284 -2845 Centro Sraffa working papers [online] Causality and interdependence in Pasinetti’s works and in the modern classical approach* Enrico Bellinoa and Sebastiano Nerozzib a Università Cattolica del Sacro Cuore, Milano b Università degli studi di Palermo One of the items that Pasinetti rightfully emphasizes in characterizing the Cambridge school, and differentiating it from mainstream neoclassicism, is causality versus interdependence. (Leijonhufvud, 2008, 537) Abstract. The formal representation of economic theories normally takes the shape of a model, that is, a system of equations which connect the endogenous variables with the values of the parameters which are taken as given. Sometimes, it is possible to identify one or more equations which are able to determine a subset of endogenous variables priory and independently of the other equations and of the value taken by the remaining variables of the system. The first group of equations and variables are thus said to causally determine the remaining variables. In Pasinetti’s works, this notion of causality has often been emphasized as a formal property having the burden of conveying a profound economic meaning. In this paper, we will go through those works of Pasinetti where the notion of causality plays a central role, with the purpose of contextualizing it within the econometric debate of the Sixties, enucleate its economic meaning, and show its connections with other fields of the modern classical approach. Keywords: causality, interdependence, modern classical approach, Ricardo distribution theory, Keynes’s analysis, ‘given quantities’, surplus approach, structural dynamics, vertical integration. -
Historische Weinbaulandschaften an Der Mosel
Historische Weinbaulandschaften an der Mosel In der „Regionalinitiative Mosel“ sind Vertreter von Weinbau, Kultur und Tourismus, die Wirtschaftskammer, die Landkreise sowie die Stadt Trier zusammengefasst. Die Steuerungsgruppe der Regionalinitiative hat im November 2013 das Leitprojekt Lebendige Moselweinberge beschlossen. Im Rahmen dieses Leitprojekts soll mit vielfältigen Maßnahmen die bio- logische Vielfalt einer einzigartigen Kulturlandschaft nach Innen und nach Außen besser kommuniziert werden. Davon profitieren sowohl Einheimische als auch Gäste und schließlich erhoffen wir uns davon eine bessere Wertschöpfung für den Steilla- genweinbau. In diesem Rahmen wird auch das Projekt „Historische Weinbaulandschaften“ durch- geführt, das unter der Federführung der Dienstleistungszentren Ländlicher Raum (DLR) Mosel in Bernkastel-Kues und Westerwald-Osteifel in Mayen bearbeitet wird. Historische Weinbaulandschaften der Mosel Inhaltsverzeichnis Vorwort.....................................................................................................3 Gedanken zur historischen Weinbaulandschaft .......................................4 Tendenzen, Ziele und Handlungsbedarf ..................................................5 Qualitätskriterien zur Auswahl historischer Weinbaulandschaften...........6 Historische Weinbaulandschaften der Mosel ...........................................7 Güls / Metternich (Marienberg) ............................................................................... 8 Winningen (Röttgen / Brückstück)........................................................................ -
Radwander Broschüre DE EN 2021 Klein
Radwandern im Zeller Land Cycling in the Zeller Land Foto: Inge Faust Der Moselradweg Die deutsche Strecke des Moselradweges beginnt in Perl, nahe der französischen Grenze und führt auf ca. 275 Kilometern entlang des markanten Flusslaufs bis zum Deutschen Eck in Koblenz. Er ist eine der beliebtesten Fernstrecken für Radler und verbindet Weinkultur mit abwechslungsreicher Landschaft sowie sehenswerten Städten. Auf der durchgehenden, größtenteils asphaltierten und ufernahen Radstrecke, erlebt man alle Besonderheiten des Moseltals: Urige Weingüter, weltberühmte Weinlagen, antike Stätten und romantische Burgen. Viele Orte bieten attraktive Einkehrmöglichkeiten umgeben von Fachwerkidyll oder Jugendstileleganz. Durch die Flussnähe hat der Moselradweg ein weitgehend ebenes Höhenprol. Flussabwärts sind es insgesamt 560 abfallende und 430 ansteigende Höhenmeter. Daher eignet er sich hervorragend für Radtouren mit Kindern sowie für die Nutzung von Fahrra- danhängern und Tandems. Von den sanften Tälern der Obermosel, über die waldumsäumten Weinberge der Mittelmosel, bis zur felsigen Terrassenmosel lässt sich das faszinierende Moseltal auf dem Rad entspannt erleben! Etappenvorschläge/ tour proposals: Perl - Trier 50 km Trier - Schweich 17 km Schweich - Trittenheim 23 km Trittenheim - Bernkastel-Kues 30 km Bernkastel-Kues - Traben-Trarbach 22 km Traben-Trarbach - Zell (Mosel) 19 km Zell (Mosel) - Cochem 36 km Cochem - Hatzenport 22 km Hatzenport - Koblenz 27 km Der Moselradweg Mosel Cycle Trail Die deutsche Strecke des Moselradweges beginnt in Perl, The German stretch of the Mosel Cycle Trail starts in Perl, nahe der französischen Grenze und führt auf near the French border, and runs dramatically alongside ca. 275 Kilometern entlang des markanten Flusslaufs bis the river for nearly 275 km as far as the so-called zum Deutschen Eck in Koblenz. -
A Glossary of Fiscal Terms & Acronyms
AUGUST7,1998VOLUME13,NO .VII A Publication of the House Fiscal Analysis Department on Government Finance Issues A GLOSSARY OF FISCAL TERMS & ACRONYMS 1998 Revised Edition Abstract. This issue of Money Matters is a resource document containing terms and acronyms commonly used by and in legislative fiscal committees and in the discussion of state budget and tax issues. The first section contains terms and abbreviations used in all fiscal committees and divisions. The remaining sections contain terms for particular budget categories and accounts, organized according to fiscal subject areas. This edition has new sections containing economic development, family and early childhood, and housing terms and acronyms. The other sections are revised and updated to reflect changes in terminology, particularly the human services section. For further information, contact the Chief Fiscal Analyst or the fiscal analyst assigned to the respective House fiscal committee or division. A directory of House Fiscal Analysis Department personnel and their committee/division assignments for the 1998 legislative session appears on the next page. Originally issued January 1997 Revised August 1998 House Fiscal Analysis Department Staff Assignments — 1998 Session Committee/Division Fiscal Analyst Telephone Room Chief Fiscal Analyst Bill Marx 296-7176 373 Capital Investment John Walz 296-8236 376 EDIT— Economic Development Finance CJ Eisenbarth Hager 296-5813 428 EDIT— Housing Finance Cynthia Coronado 296-5384 361 Environment & Natural Resources Finance Jim Reinholdz 296-4119 370 Education — Higher Education Finance Doug Berg 296-5346 372 K-12 Education Finance Greg Crowe 296-7165 378 Family & Early Childhood Finance Cynthia Coronado 296-5384 361 Health & Human Services Finance Joe Flores 296-5483 385 Judiciary Finance Gary Karger 296-4181 383 State Government Finance Helen Roberts 296-4117 374 Transportation Finance John Walz 296-8236 376 Taxes — Income, sales, misc. -
Long-Term Unemployment and the 99Ers
Long-Term Unemployment and the 99ers An Emerging Issues Report from the January 2012 Long-Term Unemployment and the 99ers The Issue Long-term unemployment has been the most stubborn consequence of the Great Recession. In October 2011, more than two years after the Great Recession officially ended, the national unemployment rate stood at 9.0%, with Connecticut’s unemployment rate at 8.7%.1 Americans have been taught to connect the economic condition of the country or their state to the unemployment Millions of Americans— rate, but the national or state unemployment rate does not tell known as 99ers—have the real story. Concealed in those statistics is evidence of a exhausted their UI benefits, substantial and challenging structural change in the labor and their numbers grow market. Nationally, in July 2011, 31.8% of unemployed people every month. had been out of work for at least 52 weeks. In Connecticut, data shows 37% of the unemployed had been jobless for a year or more. By August 2011, the national average length of unemployment was a record 40 weeks.2 Many have been out of work far longer, with serious consequences. Even with federal extensions to Unemployment Insurance (UI), payments are available for a maximum of 99 weeks in some states; other states provide fewer (60-79) weeks. Millions of Americans—known as 99ers— have exhausted their UI benefits, and their numbers grow every month. By October 2011, approximately 2.9 million nationally had done so. Projections show that five million people will be 99ers, exhausting their benefits, by October 2012. -
Experience the Moselle Landscape of Wine And
EN MOSELLANDTOURISTIK WINE EVENTS & HOSTS 2019 EXPERIENCE THE MOSELLE LANDSCAPE OF WINE AND CULTURE WINE EVENTS, ARRANGEMENTS & HOSTS 2019 Dear guests and friends of the Moselle region, UNIQUE ORIGINS, we are delighted by your interest in spending your For information on your SEDUCTIVE ENJOYMENT. holiday in our attractive landscape of wine and culture. Moselle vacation contact: This brochure starts off by providing you with a Mosellandtouristik GmbH comprehensive overview of the appealing package Kordelweg 1 · 54470 Bernkastel-Kues offers available for a care-free stay by the Moselle, Saar Telephone +49(0)6531/9733-0 and Ruwer rivers. Thereafter we will introduce our local Fax +49(0)6531/9733-33 hosts, who will gladly spoil you individually with the hospitality that is typical for the Moselle region. [email protected] www. mosellandtouristik.de/en Discover the Moselle region with us – be it on a www.facebook.com/mosellandtouristik short trip or an entire holiday, as a guest in a hotel, a boarding house, in a winery, or in a holiday apartment. Please don’t hesitate to contact us directly if you are Bookinghotline: +49 (0)6531 97330 seeking advice or would like to place a booking. eMail: [email protected] Web: www.mosellandtouristik.de/en, www.facebook.com/Mosellandtouristik Have fun planning your holidays! Your Moselland Tourism EXPERIENCE THE MOSELLE LANDSCAPE OF WINE AND CULTURE Map of the region 4 in the footsteps of the Romans 21 The Mosel – One of the most beautiful Exclusive short trip to the Saarburger Land 22 river landscapes in Europe 6 UNESCO World Heritage treasures in Trier 22 The most beautiful side of country life 8 Discover the city of Trier on the Roman Wine Road 22 Moselle, with body and soul 10 Girls on Tour – Discover.