This paper investigates whether the inherent non-stationarity of macroeconomic time series is entirely due to a random walk or also to non-linear components. Applying the numerical tools of the analysis of dynamical systems to long time series for the US, we reject the hypothesis that these...

Der heutige Vortrag zum Thema Warum scheint die Sonne? Ökonomische Mutmaßungen über Zukunft und Herkunft irdischen Lebens ist der fünfte und letzte einer Reihe von öffentlichen Vorträgen in einer für Nichtfachleute nachvollziehbaren Form im November und Dezember dieses Jahres im Berliner...

The German railway project “Stuttgart-Ulm” is part of the high-speed line between Paris/France and Budapest/Hungary as well as Bratislava/Slovakia. It includes the parts “Stuttgart 21” (abbreviation of “Stuttgart in 21st century”) and the new railway-line Wendlingen-Ulm (to cross the...

[...]Our analysis is composed of three parts. First, we provide adiscussion of what the effects of welfare reform on thecomposition of the caseload—primarily measured by labormarket skill level—should be, in principle. Perhaps surprisingly,we argue that different welfare reform policies...

In the view of most policymakers and economists,competition in retail banking takes place in localmarkets covering a relatively small geographic area.Banks are thought to design their services and settheir loan and deposit rates in response to the supply anddemand conditions prevailing in a...

This paper explores the connections betweenbroad economic indicators in the New Yorkmetropolitan region and their national counterparts.It compares the performance of theregion in recent years with that of the nation and assessesthe importance of national and local developments for thearea’s...

[...]This paper investigates employment fluctuationsin the New York metropolitan area with the goal of understandingthe similarities and differences between theregion and the rest of the nation. The investigation has twoparts. The first part describes cyclical movements andlong-run shifts in...

[...]This paper analyzes the industrial restructuringprocess in the New York metropolitan area in the first halfof the 1990s.1 It shows that the restructuring was accompaniedby a decline in the labor force, particularly in NewYork, where the decline persisted through the first half ofthe 1990s....

[...]The loss of manufacturing jobs has created a widespreadsense that manufacturing in New York City has nofuture, that the decline is unstoppable and “largely inevitableand foreordained” (Fitch 1993, p. 107). Even theoptimistic report of the Commission on the Year 2000,New York Ascendant,...