Browsing by Author "Weder, Mark"

Now showing items 1-12 of 12

2003-11-19Buch

A Heliocentric Journey into Germany’s Great Depression

Weder, Mark

The paper finds empirical evidence on the ripple effect of sunspots on the interwar German economy. It identifies a sequence of negative shocks to expectations for the 1927 to 1932 period. The artificial economy predicts ...
1997-07-01Buch

Animal Spirits, Technology Shocks and the Business Cycle

Weder, Mark

In this paper a two-sector growth model allowing indeterminacy to occur at relatively mild degrees of increasing returns is developed. It is shown that these economies of scale need only be present in one sector of the ...
1999-05-21Buch

Complementarity of Labor Market Institutions, Equilibrium Unemployment and the Persistence of Business Cycles

Burda, Michael; Weder, Mark
2001-07-07Buch

Complementarity of Labor Market Institutions, Equilibrium Unemployment and the Propagation of Business Cycles

Burda, Michael; Weder, Mark

This paper evaluates complementarities of labor market institutions and the business cycle in the context of a stochastic dynamic general equilibrium model economy. Matching between workers and vacancies with endogenous ...
2002-03-25Buch

Did Sunspot Cause the Great Depression?

Harrison, Sharon G.; Weder, Mark

We apply a dynamic general equilibrium model to the period of the Great Depression. In particular, we examine a modi¯cation of the real business cycle model in which the possibility of indeterminacy of equilibria arises. ...
1998-12-18Buch

Endogenes Wachstum, gleichgewichtige Arbeitslosigkeit und persistente Konjunkturzyklen

Burda, Michael; Weder, Mark
1999-03-16Buch

Indeterminacy in the Small Open Economy Ramsey Growth Model

Weder, Mark
1997-07-01Buch

Indeterminacy, Business Cycles, and Modest Increasing Returns to Scale

Weder, Mark

In this paper a dynamic model of monopolistic competition with entry and exit has been presented and examined. It is shown that the model displays indeterminacy at modest degrees of increasing returns in cases where the ...
2010-08-31Buch

Payroll Taxes, Social Insurance and Business Cycles

Burda, Michael C.; Weder, Mark

Payroll taxes represent a major distortionary influence of governments on labor markets. This paper examines the role of payroll taxation and the social safety net for cyclical fluctuations in a nonmonetary economy with ...
2003-09-23Buch

Taylor Rules and Macroeconomic Instability

or How the Central Bank Can Pre-empt Sunspot Expectations

Weder, Mark

This paper derives new results on the effects of employing Taylor rules in economies that are subject to real market imperfections such as production externalities. Taylor rules that aggressively respond to output can ...
2017-05-29Diskussionspapier

The Economics of German Unification after Twenty-five Years: Lessons for Korea

Burda, Michael C.; Weder, Mark

This paper reviews the performance of the East German economy in the turbulent quarter-century following reunification and draws some conclusions for the reunification of North and South Korea. In this period, the gap in ...
2001-07-19Buch

The Great Demand Depression

Weder, Mark

This paper entertains the notion that disturbances on the demand side play a central role in our understanding of the Great Depression. In fact, from Euler equation residuals we are able to identify a series of unusually ...