"Mit dem langfristigen Anstieg der Sparquote der Haushalte ergibt sich für die Investition ein doppeltes Dilemma. Einerseits inudziert die Zunahme der Ersparnis ein Nachlassen der Konsumdynamik mit entsprechenden Absatz- und Überkapazitätsproblemen; die Risiken für Erweiterungsinvestitionen...

This paper deals with the analysis of the impact of credit rationing on the farmer's economic equilibrium and the analysis of different policy scenarios in a derived neoclassical adjustment cost framework. The theoretical model is an optimal dynamic investment model, in which the upper bound on...

The elasticity of factor substitution between capital and labor is a crucial parameter in many economic fields. However, despite extensive research, there is no agreement on its value. Utilizing 738 estimates from 41 studies published between 1961 and 2016, this paper provides the first...

We characterize the Laffer curves for labor taxation and capital income taxation quantitatively for the US, the EU-14 and individual European countries by comparing the balanced growth paths of a neoclassical growth model featuring ”constant Frisch elasticity” (CFE) preferences. We derive...