Should we be more critical and nuanced when it comes to the metaphorical, notional and representational worlds that define innovation ecosystem? Through a deconstruction of two important ecosystem metaphor, we reveal a pronounced disaccord between the normative charge of respective notions on...

The article illustrates how the integration of modern theory of finance and stochastic dynamic macroeconomic analysis provides a deeper understanding of the link between asset prices and consumption. It shows that this approach gives only a partial explanation for recent trends in US...

Recent econometric evidence has noticeably changed views on the desirability and the appropriate design of explicit Deposit Insurance Schemes (DIS). The purpose of this paper is to take a second look at the data. After surveying recent empirical work and providing a theoretical framework, we...

Die Bundesregierung hat mit dem sog. "Konjunkturpaket II" auf die Wirtschaftskrise reagiert und stellt insgesamt fast 50 Mrd. € zur Verfügung. Die Mittel sollen großenteils für Investitionen in Infrastruktur genutzt werden. Ulrich Klüh und Wolfgang Wiegard, Sachverständigenrat zur...

This paper presents a proposal for a regulatory regime aimed at reducing systemic risk effectively and internationally. Systemic relevance should be internalized with a levy (or tax), the level of which (or tax rate) rises with the systemic relevance of an institution (Pigouvian taxation). The...

Aktuell ist eine Einschätzung der zukünftigen Wirtschaftslage dringend nötig. Gleichzeitig ist es aber ausgesprochen schwierig, verlässliche Vorhersagen zu machen. Zudem ist zu befürchten, dass die Prognosen selbst Reaktionen bei den Wirtschaftsbürgern auslösen.Was wird von Prognosen...

Against the backdrop of the present crisis this Forum is dedicated to the discussion of measures to prevent future breakdowns of the global economy. Daniel Gros, Ulrich Klüh and Beatrice Weder di Mauro regard as the biggest flaw in the existing structures the lack of an institution that has the...

How can we toughen up the state against the backdrop of the transformative challenges of climate change, planetary boundaries, and technological progress? I examine this question through a fundamental analysis of the dimensions of democratic politics and the "management" of public affairs. I...