The American Recovery and Reinvestment Act of 2009 is a massive piece of legislation that was enacted on the heels of the most significant financial crisis of modern time. It was aimed at avoiding a depression. The provisions of the Act were aimed at calming the panic that had gripped investors...

Seit einiger Zeit ist das Gebot der Schaffung „gleichwertiger Lebensverhältnisse“, das im Grundgesetz verankert ist, Gegenstand reger Diskussionen. Landes- und Kommunalpolitiker richten auf seiner Grundlage Anspruchshaltungen auf, die emotional und öffentlichkeitswirksam diskutiert werden...

Seit einiger Zeit ist das Gebot der Schaffung „gleichwertiger Lebensverhältnisse“, das im Grundgesetz verankert ist, Gegenstand reger Diskussionen. Landes- und Kommunalpolitiker richten auf seiner Grundlage Anspruchshaltungen auf, die emotional und öffentlichkeitswirksam diskutiert werden...

Schumpeter's concept of creative destruction as the engine of capitalist development is well-known. However, that the destructive part of creative destruction is a social cost and therefore biases our estimate of the impact of the innovation on NNP and on welfare is hardly acknowledged, with the...

Cross-country growth regressions have become an increasingly common tool in empirical development research. But these regressions typically do not attempt to distinguish among countries in different stages of development. Two empirical methods are used to test for such differences. Several of...

Is aid subject to diminishing returns? This paper addresses this issue, thereby contributing to the literature on effective allocation of aid. We test the hypothesis of diminishing returns to aid. Using an appropriate econometric technique for detecting thresholds, we find that aid only becomes...

Schumpeter’s concept of creative destruction as the engine of capitalist development is well-known. However, that the destructive part of creative destruction is a social cost and therefore biases our estimate of the impact of the innovation on NNP and on welfare is hardly acknowledged, with...

We present cross-country evidence that a country's macroeconomic volatility, measured either by the standard deviation of output growth or the occurrence of trend-growth breaks, is significantly affected by the country's historical variables. In particular, countries with longer histories of...