In dieser Studie wird die kürzlich von Feldstein (1996) aufgeworfene Frage für die Bundesrepublik Deutschland empirisch untersucht: "If the true and fully anticipated rate of inflation has stabilized at a low level, i.e. two per cent, is the gain from reducing inflation to zero worth the...

This study empirically investigates for the case of Germany the following question, recently posed by Feldstein (1996): "lf the true and fully anticipated rate of inflation has stabilized at a low level, i.e. two per cent, is the gain from reducing inflation to zero worth the sacrifice in output...

This study provides a unied growth theory to correctly predictthe initially negative and subsequently positive relationship between child mortalityand net reproduction observed in industrialized countries over the courseof their demographic transitions. The model captures the intricate...

This article investigates economic performance when enforceable propertyrights are missing and basic needs matter for consumption. It suggests anew view of the so-called voracity eect according to which windfall gains inproductivity induce behavior that leads to lower economic growth. Takinginto...

In an inuential article Tornell and Lane (1999) considered an economy populatedby multiple powerful groups in which property rights in the formal sectorof production are not protected. They obtained conditions under which thegroups appropriate output from the formal sector in order to invest it...