Average wage growth is closely related to aggregate productivity growth across countries and within countries over time. The commonality of patterns across OECD countries suggests that common factors are at work. Are productivity-based explanations of wage changes consistent with increasing...

Wirtschaftspolitik greift in vielen Bereichen zum Mittel direkter Vereinbarungen mit den Marktakteuren, um ihre Ziele zu verfolgen. So hat die Wohnungspolitik 1993 im Rahmen des so genannten Altschuldenkompromisses eine explizite Vereinbarung mit der Wohnungswirtschaft getroffen, die vorsieht,...

" What is a market? To most people it is a shopping center or an abstract space in which stock prices vary minutely. In reality, a market is something much more fundamental to being human, and it affects not just the price of tomatoes but the boundaries of everything we value. Reading the...

"We analyze the relationship between financial development and inter-industry resource allocation in the short- and long-run. We suggest that in the long-run, economies with high rates of financial development will devote relatively more resources to industries with a 'natural' reliance on...