By Michael Reutter
This booklet was once accredited in 1999 as doctoral thesis (Dr. oec. publ. ) via the school of economics of the Ludwig-Maximilians-Universitat in Munich. It received the dissertation expense of the Alumni-Club of the economics school within the educational yr 2000. monetary counsel by means of the German learn Asso ciation (DFG) for printing bills is gratefully said. i need to thank the folk in the back of the B\'IF,X-project, particularly Donald Knuth and Leslie Lamport, for his or her magnificent typesetting application. The supervisors of my thesis have been Prof. Dr. G. Flaig and Prof. Dr. D. Marin. i want thank either for his or her thorough analyzing of the booklet and their rules and demanding comments. lowe a lot gratitude to my educational instructor Prof. Dr. G. Flaig for lots of insightful conversations approximately glossy time sequence econometrics, asymptotic thought and knowledge difficulties. His empha sis on transparent thought mixed with sound econometric tools shaped my own excellent of the way to do utilized economics. After he left the collage in 1998I had the chance to proceed my paintings on the heart for monetary reports. Prof. Dr. H. -W. Sinn and my new colleaguesat CES supplied a stim ulating setting for the final touch of my dissertation. eventually, i need to thank my mom and dad, my sister and my neighbors for being there and sharing my cheers and concerns. Munich, October 2000 Michael Reutter Our major challenge in philosophy and in technological know-how will be the hunt fortruth. Justification isn't an objective; and brilliance and cleverness as such are boring.
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Extra info for A Macroeconomic Model of West German Unemployment: Theory and Evidence
3 4 In the bargain on the firm level this may be possible. It depends on what the purpose really is. If a high wage tax is to be avoided then it might be possible to redistribute the money from lower wages in form of fringe benefits that may be tax exempt. Actually, all the parties split the chips in such a way that the monetary payoffs after exchanging the chips for money were equal. This would be the prediction of the egalitarian solution under identical utilities, which is just a special case of the PS.
In the model presented above, however, we can think of regime changes as not only driven by C, but also by changes in technological progress, taxation, output and factor prices, replacement ratios etc. This makes a change in regime an event that is the result of the usual macroeconomic shocks that are the subject of our theoretical and empirical models. In this sense the model is a step forward towards the integration of the two theories in a common framework of wage determination. The same holds for the monopoly union model.
If the parties have von Neumann-Morgenstern utility functions, the axiom ensures that only preferences and not the representation of these preferences influence the solution. This seems to be a good property on theoretical grounds, because no cardinal utility concept or interpersonal utility comparison is used. However, as discussed below, this property is not supported by empirical evidence. This result seems to have not been considered important enough to question the application of the GNBS to the union-firm bargain in the past.
A Macroeconomic Model of West German Unemployment: Theory and Evidence by Michael Reutter