Den aktuellen Verkehrsproblemen begegnen Politik und Wissenschaft einhellig mit dem Leitbild einer integrierten Verkehrspolitik. Eine Verknüpfung der bis heute weitgehend getrennt genutzten Verkehrsträger sowie die stärkere Verschränkung von privatem und öffentlichem Verkehr soll zu einer...

In this paper we analyze the money demand functions of the four largest EMU countries and of the four-country (EMU-4) aggregate. We identify reasonable and stable money demand relationships for Germany, France and Spain as well as the EMU-4 aggregate. For the case of Italy, results are less...

Last year the German Parliament exempted biofuels from the gasoline tax. The promotion of biofuels is being justified by allegedly positive effects on climate, energy, and agricultural policy goals. The paper takes a closer look at bio-ethanol as a substitute for gasoline. We analyze the basic...

This paper provides micro-econometric evidence on the relevance of non-market interaction for the timing of initial public offerings (IPOs) in the French and German primary equity markets. The surge of IPO volume in the late 1990s appears to be consistent with rational expectations, not with...