Michael Neugart

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We develop an agent-based macroeconomic model featuring a distinct geographical dimension and heterogeneous workers with respect to skill types. The model, which will become part of a larger simulation platform for European policymaking (EURACE), allows us to conduct ex-ante evaluations of a wide range of public policy measures and their interaction. In(More)
This essay argues that experience from more than three decades of labour market forecasting shows that forecasting helps greasing the wheels of labour markets. Applied correctly – not in the sense of old fashioned manpower planning models-sufficiently disaggregated employment outlooks support individuals in making better informed decisions on human capital(More)
Enrolment rates to higher education reveal quite large variation over time which cannot be explained by productivity shocks alone. We develop a human capital investment model in an overlapping generations framework that features endogenous fluctuations in the demand for education. Agents are heterogeneous in their beliefs about future wage differentials. An(More)
Large parts of the paper were written while the first author was a guest at the Department of Economics at the University of Göteborg. He would like to thank Henry Ohlsson and Donald Storrie for their invitation and kind hospitality. Comments on our work by Henry Ohlsson, as well as the other participants of the Labor and Public Economics Seminar at the(More)
The results concerning evaluation studies of training measures are contradictory. The majority of impact analyses give an inconsistent picture about the employment effects. Some empirical analyses show that the systematic monitoring of qualification needs on the regional level can lead to better results. This is the starting point of this report: The(More)
We report results of economic policy experiments carried out in the framework of the EURACE agent-based macroeconomic model featuring a distinct geographical dimension and heterogeneous workers with respect to skill types. Using a calibrated model able to replicate a range of stylized facts of goods and labor markets, it is examined in how far effects(More)
The matching function has become a popular tool in labor economics. It relates job creation – a flow variable – to two stock variables: vacancies and job searchers. In most studies the matching function is exogenous and assumed to fulfill certain properties. This study looks at the properties of an endogenous matching function. For that purpose we program(More)