This theoretical contribution shows a simple way in which the quantity equation can be derived as a long-term equilibrium solution for the case of a closed economy and an open economy, respectively. It is shown first for the case of a closed economy which parameters stand behind "velocity" and...

The role of product innovations is growing in the world economy, and the EU and the US are key players here. The analysis presented herein explains product innovations in the EU25 for the period 2006-2012, namely through lagged R&D (relative to GDP), cumulated FDI inflows (relative to the host...

The innovative approach presented introduces a modified neoclassical growth model which includes a new bias of technological progress in a quasi-endogenous growth model in which part of labor is used in the research & development sector. The combination of a macroeconomic production function and...

The international economic debate on the Transatlantic Trade and Investment Partnership (TTIP) has focused mainly on trade induced real income gains while the FDI related and innovation induced benefits have been largely neglected, although the EU and the US are leading FDI host countries and...

Europa ist nach wie vor ein beliebtes Investitionsland für chinesische Investoren. Dies beweisen die vielen Übernahmen der letzten beiden Jahre und auch bekannt gewordene Fälle wie der Aufkauf des Roboterherstellers KUKA. Doch was bedeuten diese Aufkäufe für die Mitbestimmungsakteure in den...

Die Wurzeln der Finanzkrise liegen in den Zielen und Praktiken, die die Banken schon seit den 90er Jahren des letzten Jahrhunderts verfolgen. Die Bankenaufsicht hat nicht rechtzeitig gegengesteuert. Um in Zukunft Krisen zu verhindern, schlägt Paul J.J. Welfens vor, die Bankenaufsicht zu...

This paper analyzes the link between structural change, growth and bazaar effects in the context of open economies. At first we consider the theoretical basis of structural change and discuss the interdependencies between trade, foreign direct investment and innovation dynamics. The empirical...

Prior to the Brexit referendum, the UK government sent an information brochure to households across the country. Surprisingly, key findings of a study by the UK Treasury – including an expected per capita income loss of £1800 – were not included in the brochure. Calculations indicate that...

Brexit is not only a historical chapter of the British - EU relationship, but it also carries immense challenges for fi nancial market stability in the short and medium run for the 28 member states of the European Union. The scale of these challenges depends heavily on the outcome of EU-UK...