This paper analyzes some of the elements of the new economy. What is really new is first of all the technological innovation. In economic terms what is new is a new product. The new IT product brought about by the new technology means two different things: a new device to handle data and to...

Wir verwenden eine neue, auf der Burr-Verteilung basierende Spezifikation aus der Familie der Autoregressive Conditional Duration (ACD) Modelle zur ökonometrischen Analyse der Transaktionsintensitäten während der Börseneinführung (IPO) der Deutsche Telekom Aktie. In diesem Fallbeispiel wird...

Persistently high unemployment, tight government budgets and the growing scepticism regarding the effects of active labour market policies (ALMP) are the basis for a growing interest in evaluating these measures. This paper intends to explain the need for evaluation on the micro- and...

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...

Job creation schemes have been one of the most important programmes of active labour market policy in Germany throughout the 1990s and into the first decade of the new century. A number of studies have analysed the effects of job creation schemes in Germany, presenting an overall disappointing...

This paper discusses the goal conflict between social protection and economic growth as well as employment. Taking the German economy as an example for the large continental economies of Old Europe, it analyzes twenty mechanisms that affect the fundamentals of the economy negatively and imply...