Wie die Prinzipien der Sozialen Marktwirtschaft bei der Lösung globaler Probleme helfen können.

Finanzmarktkrisen entstehen häufig in Folge von Immobilienpreisblasen. In dieser Arbeit wird die Entstehung von Immobilienpreisblasen unter Berücksichtigung der spezifischen Eigenschaften von Immobilienmärkten sowie von Wechselwirkungen zwischen Immobilien- und Finanzmärkten untersucht und...

When potential shareholders cannot observe the business conditions of the firms, the latter desiring to acquire capital by an IPO and operating under less favourable business conditions have a strong incentive to appear more successful.

We discuss the effects of AD-protection in a standard Dixit model of entry deterrence. In an AD-regime, the newcomer is constrained by a minimum-price rule in addition to existing irreversible entrance costs. For minimum prices which lie below the Stackelberg one, we find that AD-rules distort...

The purpose of the paper is to explain why and how American universities have taken the lead in continuing education compared to their European counterparts. In a first step we will discuss different notions of continuing education and develop an analytical framework to handle its various forms....

This paper provides new empirical evidence on the relationship between real effective exchange rate uncertainty and aggregate investment in six Latin American economies. Its main contributions are that it explicitly tests for linear as well as non-linear effects of uncertainty in a time-series...

Climate change and its consequences are the focus of many environmental policies in the European Union but also in other countries. Whereas in the US marketable instruments like permit trading have already been implemented since the 1980s, the EU first implemented permit trading for CO2...

There is a lack of competition in the German water and sewerage sector. According to economic theory levels of service can be expected to be inefficient. I will check this hypothesis and therefore take a closer look at various categories of levels of service. In analysing the internet pages of...