) income distribution dynamics, intergenerational community formation and growth. In a world in which redistributive policies … long run. -- growth ; Community formation ; human capital ; redistribution ; social mobility …

contracting is infeasible. One example is the study by Berg et al. (1995) of the investment game. In this game the person who … receives the investment is the one who may reward the investor. This is a direct reward game. Similar to Dufwenberg et al … investor may only be rewarded by a third person who did not receive his investment. Furthermore we investigate the influence of …

in the two countries and in (ii) the interaction of investment and financing decisions. This paper investigates the … impact of financing, investment, and dividend decisions on the value of stock corporations in Germany and the US. The … investment creates value in excess of cost, but the US industrial sector seems to be more efficient in making value …

To assess the predictive content of the interest rate term spread for future economic growth, we distinguish short … predictive content of the yield spread for future output growth. For U.S. data we observe good leading indicator properties at …

contributes to the polarization of the world income distribution. -- economic growth ; neoclassical convergence ; technological … world income distribution dynamics. Formal statistical hypothesis tests allow us to discriminate between two competing … growthmodels: (i) the standard neoclassical growth model similar to that employed by Mankiw, Romer, and Weil (1992), (ii) an …