The Inca Empire was the last of a long series of highly developed cultures in pre-colonial South America. It stretched across parts of the current territories of Argentina, Bolivia, Chile, Colombia, Ecuador and the whole of Peru. The Inca Road was its 30,000-kilometer-long transportation system....

In diesem Papier wird untersucht, ob bzw. wie sich im Rahmen des Kyoto Protokolls die globalen Emissionsreduktionsziele mit der ökonomischen Rationalität der beteiligten Länder in Einklang bringen lassen. Den äußeren Rahmen der Analyse bildet eine spieltheoretische Darstellung der...

The financial trilemma states that financial stability, financial integration and national financial policies are incompatible. Any two of the three objectives can be combined but not all three; one has to give. This paper develops a model to underpin the financial trilemma. Our findings for...

Cross-border banking needs cross-border recapitalisation mechanisms. Each mechanism, however, suffers from the financial trilemma, which is that cross-border banking, national financial autonomy and financial stability are incompatible. In this paper, we study the efficiency of different burden...

Die Präzision ökonomischer Prognosen und die Qualität politischer Handlungsempfehlungen hängen in entscheidendem Ausmaß von der Qualität des zugrunde liegenden Verhaltensmodells ab. Nur ein empirisch gut fundiertes Modell ökonomischen Handelns erlaubt es, die Konsequenzen politischer...

Fundraising interventions may lift donations and/or shift their composition and timing, making it important to study their effect across charity space and time. We find that major fundraising appeals lift total donations, but surprisingly shift donations to other charities across time. To...

Texas engaged in a large-scale policy experiment when it instituted the Top 10% Plan. This policy guarantees automatic admission to their state university of choice for all high school seniors who graduate in the top decile of their high school class. We find evidence that households reacted...