This dissertation is a collection of four essays dealing with topics of the production of health and health care finance. In almost all industrialized countries public health care expenditure continues to increase at a faster pace than GDP. Thus, debate on health policy often focuses on limiting...

This dissertation investigates important and cutting-edge issues surrounding new product development failure and its consequences for market values of innovation-driven firms. Although a substantial body of literature demonstrates that new product development failure harms some companies more...

My thesis is centered on the macroeconomic causes and consequences of income inequality. The first two essays develop theoretical frameworks to analyze the impact of income inequality on technical change and long-term economic growth. These essays sprung from the very fruitful collaboration with...

Demographic change belongs to the mega-trends of the 20th and the 21st century. The ongoing aging process in major industrialized countries gives rise to the relative scarcity of raw labor and the relative abundance of physical capital. Standard macroeconomic models suggest that this depresses...