National authorities are presently not willing to install a supranational authority vested with the competencies required to internalize global environmental externalities. Therefore we adopt a dynamic framework of two economies (i.e. Europe and rest of world) and analyze their strategic...

This paper investigates economic convergence in real income per capita between 27 European Union countries. We employ a non-linear latent factor framework to study transitional behavior among economies between 1970 and 2010. Our results offer important insights on the economic catch-up exhibited...

Commodities do not only serve the purpose of satisfying direct needs in the production and con-sumption process. Some of them can also be used to display social status and to affect the position of an individual in society. This paper addresses the question under which circum-stances...

Wirtschaftliches Wachstum wird in aggregierten Größen wie dem Bruttoinlandprodukt ausgedrückt. Gängige Wachstumstheorien setzen ebenfalls makroökonomische Größen wie etwa die Sparneigung, die Investitionsquote und die Veränderung des Kapitalstocks zueinander in Beziehung, um das...