Globalization has entered a new stage, with new and varying constellations of winners and losers and thus, calls for a new policy paradigm. In contrast to the traditional way of thinking - the welfare state redistributes purchasing power to the disadvantaged to support them in the event of...

This dissertation contains applications of agent-based financial market models and nonlinear econometric methods in financial economics. The first part deals with the analysis of the effectiveness of currency transaction taxes within financial market models with traders with heterogeneous...