Terrorist models often focus on one kind of agent as well as one motive to pursue terrorism. Our model diverges from such standard approaches by taking account of the reasoning of the terrorist-organization leader as well as the reasoning of the individual terrorist. This allows us to observe...

In this paper we give an overview, with special emphasis on Germany, of the recent development of the market for venture capital. We analyse the financial contracting problems that arise when entrepreneurs need capital from outside investors, and demonstrate how these problems are addressed by...

The main purpose of this introductory chapter is to be briefly review the ongoing debate in the field of sustainability and economic growth. First we provide an introduction to current empirical research. Results of empirical analyses as well as methodological problems concerning the analysis of...

Analyzing the rationale for climate policy, one utility category is often neglected: secondary benefits. This is surprising because the consideration of secondary benefits would increase the attractiveness of climate policies from a national point of view. It would however also affect the...

New policy approaches to facilitate the co-existence of wildlife and livestock are needed for situations where predation incidents greatly impact households’ income and retaliatory killing threatens endangered carnivore species’ survival. In this paper, models are developed to assess how two...

Purpose - The purpose of this paper is to examine the commonly used policy approach to subsidize the private provision of public goods by granting agents deductions with respect to their income or corporate tax burden. Design/methodology/approach - In the framework of a microeconomic...

We provide evidence on the fit of the hybrid New Keynesian Phillips curve for selected Euro zone countries, the US and the UK. Instead of imposing rational expectations and estimating the Phillips curve by the Generalized Method of Moments, we use direct measures of inflation expectations from...

This paper evaluates the performance of simple policy rules in an open economy. By introducing a high degree of exchange rate uncertainty we find that policy rules with an important feedback from movements in the real exchange rate are very robust to uncertainty about the true exchange rate...

Currently informal and formal international negotiations on climate change take place in an intensive way since the Kyoto Protocol expires already in 2012. A post-Kyoto regulation to combat global warming is not yet stipulated. Due to rapidly increasing greenhouse-gas emission levels,...