During the economic crisis of 2008 and 2009, governments in Europe stabilized their economies by means of fiscal policy. After decades of absence, deficit spending was used to counteract the heavy decline in demand. In Germany, public spending went partially into R&D subsidies in favor of small...

In the decade prior to the economic and financial crisis, Germany’s net exports increased in absolute terms as well as relative to the growing level of import intensity of domestically produced export goods and services. This article analyses the direct and indirect employment effects induced...

Abstract: Viele Indizien aus der Historie der Aktienmärkte weisen auf Ineffizienz hin. Aber warum spielt die Effizienz der Aktienmärkte eine Rolle? Da sie eine zentrale Voraussetzung für hohes volkswirtschaftliches Wachstum darstellt. (Mishkin und Eakins, 2006, S. 3-4)In drei Aufsätzen...

Summary A common joke among economist is: Why has god created meteorologists? To make the forecasts of economist look less bad! At the heart of this joke stands the critique that economic forecasts are notoriously inaccurate. Prediction Markets are an attempt to improve these forecasts by...

A common joke among economist is: Why has god created meteorologists? To make the forecasts of economist look less bad! At the heart of this joke stands the critique that economic forecasts are notoriously inaccurate. Prediction Markets are an attempt to improve these forecasts by aggregating...