Current explanations why a growing economy necessarily goes through booms and recessions predict countercyclical R&D investment. As this is very controversial from an empirical perspective, a stochastic Poisson model of endogenous business cycles and growth is presented where the determinants of...

A country with Cournot competition and free entry experiences an increase of its market size either due to economic growth or international integration of goods markets. The implied increase in competition leads to shrinking mark-ups and forces firms to reduce overhead costs relative to output....

Worker movements played a crucial role in making workplaces safer. Workplace safety is costly for firms but increases labour supply. A laissez-faire approach leaving safety of workplaces unknown is suboptimal. Safety standards set by better-informed trade unions are output and welfare...

Getting a tenured position in economics in Germany is viewed as a random outcome where the probability of tenure depends on the quantity and qual- ity of publications, age and years since PhD. We measure publications both in units of Top 5 journals and in units of the European Economic Review...

Stylized facts derived from wage pattern analysis in the U.S. point to the importance of non-standard explanations for changes of relative wages. Learning while working is predicted to be able to account for wage divergence so far unexplained. Increases in productivity differ among individuals...

The analysis of distributions is central to search and matching models. Wage distributions are a central concern but distributions of productivities, fi?rm types, human capital, entitlement to unemployment benefi?ts and wealth become increasingly important. We present a method - the...

Getting a tenured position in economics in Germany is viewed as a random outcome where the probability of tenure depends on the quantity and qual- ity of publications, age and years since PhD. We measure publications both in units of Top 5 journals and in units of the European Economic Review...

During the last decades, some Asian countries have experienced a substantial change of their production structure leading to a change of their trade patterns. Whereas formerly high-tech goods were imported, they now constitute an important fraction of the countries' exports. Possible reasons for...

Global stability properties of dynamic two-country models can be easily studied in the case of international capital flows and simple capital market no-arbitrage conditions. With internationally constant relative productivities, long-run balanced growth path values for factor prices will hold on...

The prediction of trade patterns is usually based on physical factor abundance. In a context of endogenous growth, however, physical factor richness does not always predict trade patterns in a reliable way. In a world where countries differ only in their factor endowment trade patterns can...