In an evolutionary approach to macroeconomics, the market disequilibrium dynamics resulting from structural change need to be properly represented at the aggregate level. As suggested by the late F.A.Hayek, a suitable equilibrium concept required to this end as a frame of reference, is that of a...

This article summarises the results of a study on the Germany energy crisis and the need for an extension and modificationsof the electricity price break. The study shows that the energy crisis led to a short-run output loss comparable to the output losses as-sociated with the COVID-19 crisis in...

This article summarises the results of a study on the Germany energy crisis and the need for an extension and modificationsof the electricity price break. The study shows that the energy crisis led to a short-run output loss comparable to the output losses as-sociated with the COVID-19 crisis in...

In 1999 the red/green administration in Germany induced an ecological tax reform, which burdens energy consumption and uses the tax revenue to reduce social security distributions. As in other countries the design of the taxation does not follow textbook considerations, but is marked by many...

The issue of whether employees who work more hours than they want to suffer adverse health consequences is important not only at the individual level but also for governmental formation of work time policy. Our study investigates this question by analyzing the impact of the discrepancy between...

The issue of whether employees who work more hours than they want to suffer adverse health consequences is important not only at the individual level but also for governmental formation of work time policy. Our study investigates this question by analyzing the impact of the discrepancy between...

The issue of whether employees who work more hours than they want to suffer adverse health consequences is important not only at the individual level but also for governmental formation of work time policy. Our study investigates this question by analyzing the impact of the discrepancy between...

Wage Dispersion and Efficiency. It is often assumed that markets generate efficient allocations, but these are not necessarily fair. The widening of wage differentials that is currently observed is interpreted in this manner: Skill-biased technological progress increases demand for skilled work...

Wage Dispersion and Efficiency. It is often assumed that markets generate efficient allocations, but these are not necessarily fair. The widening of wage differentials that is currently observed is interpreted in this manner: Skill-biased technological progress increases demand for skilled work...

Most self-employed would apparently earn higher earnings if they were working in paid employment. One explanation for this “return-to-entrepreneur-ship puzzle” could be that entrepreneurship entails substantial non-monetary bene-fits, such as autonomy, flexibility, and task variety....