Drei Probleme der Risikobewertung bei öffentlichen Investitionen werden behandelt. Erstes Thema ist die Frage nach der richtigen Diskontrate bei unsicherem Wirtschaftswachstum. Zentrales Ergebnis ist, dass die übliche Ramsey-Gleichung bei Unsicherheit keine Gültigkeit mehr hat und einer...

The measurement of the effective tax burden on profitable investments encounters many methodological problems. Some of them can be overcome by using an approach presented by Devereux and Griffith. Based on their methodology, we develop a measure for effective tax rates for profitable investments...

We analyse the Polish wage and unemployment structure between 1992 and 1995 on the basis of the Polish Labour Force Survey. It is shown that within this period wage inequality has stabilised. Surprisingly, wage inequality is lower in the private than in the public sector. Our test results show...

State capacity is optimized when public institutions are staffed by individuals with public-service motivation. However, when motivated agents value the collective reputation of their place of employment, steady-state equilibria with both high and low aggregate motivation (reputation) in the...