We analyze a generalized neoclassical growth model that combines a normalized CES production function and possible asymmetries of savings out of factor incomes. This generalized model helps to shed new light on a recent debate concerning the impact of factor substitution and income distribution...

Using a normalized CES function with factor-augmenting technical progress, we estimate a supply-side system of the US economy from 1953 to 1998. Avoiding potential estimation biases that have occurred in earlier studies and putting a high emphasis on the consistency of the data set, required by...

The elasticity of substitution between capital and labor and, in turn, the direction of technical change are critical parameters in many fields of economics. Until recently, though, the application of production functions with non-unitary substitution elasticities (i.e., non Cobb Douglas) was...

Zusammenfassung Die Problematik des staatlichen Interventionismus steht im Zentrum ordnungspolitischer Analysen über Gründe oder Hemmnisse für wirtschaftliches Wachstum. Im Rahmen dieses Beitrags wird versucht, die Auswirkungen einer weit verbreiteten Spielart des Interventionismus auf die...

Zusammenfassung In diesem Beitrag wird untersucht, inwieweit das Gesundheitswesen in Deutschland die Nachfrage nach medizintechnischen Innovationen - am Fallbeispiel bildgebender Verfahren - positiv beeinflußt. Der Analyserahmen dafür ist der „Diamant“-Ansatz Porters, der eine...

Summary The aim of the following paper is to examine the complementarities (and divergences) between the ‘Paleo-liberal’ Adam Smith and the Ordoliberal Walter Eucken. Following the hypothesis that Smith is among the forerunners and predecessors of Ordoliberalism and Social Market Economy, we...

Summary The article analyzes the inherent risks of paternalistic economic policies associated with the newly established economic sub-disciplines of behavioral economics, happiness economics and economic psychology. While the authors in general welcome these sub-disciplines for enriching and...

We analyze a generalized neoclassical growth model that combines a normalized CES production function and possible asymmetries of savings out of factor incomes. This generalized model helps to shed new light on a recent debate concerning the impact of factor substitution and income distribution...