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Persistent link: https://www.econbiz.de/10010295024
Locational competition is geographic competition, competition between places, between cities, between regions, and between countries. These spatial units compete with each other for the mobile production factors in factor markets, i.e., for mobile capital, for mobile technical know-how, and for...
Persistent link: https://www.econbiz.de/10010295057
Die Konjunktur in Deutschland befindet sich am Beginn einer Schwächephase. Es ist keineswegs ausgeschlossen, dass die …
Persistent link: https://www.econbiz.de/10010295114
An Englishman once watched his first American football game. He looked intently as the team gathered into a huddle after each play. His American host asked him what he thought of the proceedings. “Not a bad sport,” remarked the visitor, “but they do seem to engage in an excessive number of...
Persistent link: https://www.econbiz.de/10010295156
The obsolete capital stock in eastern Germany has to be rebuilt. This will increase the capital demand in Germany for the next few years. In addition to the increased demand for capital, government transfers need to be financed. The macroeconomic accounting identity requires that net savings of...
Persistent link: https://www.econbiz.de/10010295185
Persistent link: https://www.econbiz.de/10010261678
The paper compares the pay-as-you-go system and a capital funded system of old age insurance. The capital funded system has a higher rate of return. Pension income can be obtained at lower costs for the individual. This implies efficiency gains in terms of higher savings and reduced distortion...
Persistent link: https://www.econbiz.de/10010265339
Germany's capital market relies on bank-intermediated products and not so much on capital market processes. Two of the pillars in Germany's three-pillar banking system, the savings banks and the cooperative banks, have special statutes and are not exposed to the control of the capital market...
Persistent link: https://www.econbiz.de/10010265410
The member states of the European Union have given up sovereignty in quite a number of policy areas and subjected themselves to joint decisionmaking at the European level. Policy instruments are no longer available nationally in many policy areas, including monetary policy, trade policy, the...
Persistent link: https://www.econbiz.de/10010265421
This paper analyzes Germany's fiscal policy position. Half of GDP passes through the hands of government, a high debt to GDP ratio limits the maneuvering, and the revenue sharing mechanism prevents a competitive federalism. Most importantly for the future, the federal finance minister has to...
Persistent link: https://www.econbiz.de/10010265427