This paper aims at analyzing the implications of individuals' consumption jealousy on the dynamic structure of a two-sector model economy. We find that status-seeking substantially influences both, the long-term properties and the adjustment behavior of the model. Depending on the status motive,...

This paper presents a novel theoretical and empirical approach to the analysis of long-run economic growth. It shows that most traditional theoretical models share the feature of pair-wise cointegration among the main variables. An augmented Kaldor model is proposed in contrast to the standard...

In this paper, we use both patents' individual life span and foreign patenting activities in Germany to identify the most valuable patents of the 21 most innovative countries (except for Germany) from the European Core, the European periphery and overseas between 1877 and 1932. Our empirical...

Die Wachstumsschwäche der deutschen Wirtschaft fordert Erklärungsansätze heraus. Während viele Ökonomen die Ursachen für die deutsche Wachstums- und Beschäftigungskrise bei den Angebotsbedingungen sehen, plädieren Dr. Heiner Flassbeck und Remi Maier-Rigaud dafür, der Nachfrageseite und...

In this paper, a new approach to disclose the impact of politics on economic growth is presented: we use data derived from content analysis of party manifestos as measures of party preferences. In a panel of 23 OECD countries, we detect a positive impact of party support for various...

This paper investigates the short run as well the long run relationships between money supply, inflation, government expenditure and economic growth by employing the Error Correction Mechanism (ECM) and Johansen co-integration test respectively for the case of Cyprus using annual data from 1980...