This paper examines whether the productivity growth in the West-German states is influenced by the provision of public infrastructure. Medium-term labour productivity growth and output growth varies a lot between German states. This differences are more pronounced during the eighties. The...

The present paper presents an analysis of the impact of public infrastructure capital on regional economic developments in Germany. After presenting some descriptive statistical data on the economies of the 11 regions in (West) Germany a simple theoretical model of a cost-minimizing firm is...

The paper investigates the impact the provision of public capital has on the demand for private capital and labour using a cost function with public capital included as a fixed unpaid factor of production. Special attention is paid to the examination of the influence tax vs. debt financing of...

This paper examines whether the productivity growth in the West-German states is influenced by the provision of public infrastructure. Medium-term labour productivity growth and output growth varies a lot between German states. This differences are more pronounced during the eighties. The...

The present paper presents an analysis of the impact of public infrastructure capital on regional economic developments in Germany. After presenting some descriptive statistical data on the economies of the 11 regions in (West) Germany a simple theoretical model of a cost-minimizing firm is...

Population aging imposes a challenge for the public pension systems in many developed countries. The solvency of the pension system requires a broad set of policy measures. The paper addresses the following question: What are the macroeconomic consequences of increasing the social security...

We model the optimal reaction of a public PAYG pension system to demographic shocks. We compare the ex-ante first best and second best solution of a Ramsey planner with full commitment to the outcome under simple third best rules that mimic the pension systems observed in the real world. The...

Die neue Bundesregierung wird zur Finanzierung neuer Ausgabenschwerpunkte nur bedingt auf eine Kreditfinanzierung ausweichen können, da nach aktuellem Stand ab 2023 wieder die Schuldenbremse greifen wird. Auch die Möglichkeit, die Mehrausgaben durch Steuererhöhungen zu decken, kann als...

This paper investigates the impact of the 2001 tax reform in Germany on dividend announcement returns. With this major tax reform, the full imputation system was replaced by the half-income system, which had a significant impact on the relative taxation of dividends and capital gains for most...

We use a stylized model to show that, if transfers to the poor are founded on a security argument, there is a negative trade-o¤ between law enforcement expenditures and criminality. In contrast, if transfers are based on altruism, the correlation between the same variables may appear positive....