The paper analyzes the possible efficiency base of intergovernmental grants between rich and poor regions in a federal state.

In the paper a growth model is developed which admits endogenous growth. Endogenous growth is due to simultaneous efficient accumulation of physical as well as human capital. In contrast to similar growth models, we assume that output can be transformed into either physical or human capital...

Using two examples we have shown that large fluctuations in real exchange rates cannot normally be attributed to "overshooting" in the Dornbusch sense. We proposed to use the interest differential between to countries as a direct and reliable measure of the extend of overshooting. Observing that...

The article discusses the validity of Walras' Law in case of quantity constraints.

In our paper we have shown that, avoiding logical inconsistencies, one cannot interpret the IS-curve as an equilibrium locus for the goods market. In the neoclassical synthesis the goods market is depicted by the AD/AS-diagram and, therefore, it cannot be represented by the IS-curve...

The article analyzes the welfare impact of Germany's tenant protection law. It shows why tenants do not demand protection in a market equilibrium, notwithstanding that moving expenses may be considerable. Under this assumption, tenant protection enforced by the law makes tenants worse off in the...

The article discusses the question whether or not family allowances have a strictly economic rationale.

The authors outline a public pension reform where contribution rates are reduced to zero over a very long horizon and in a Pareto-improving fashion.

The book offers a comprehensive treatment of tax theory and policy. It surveys the German tax system, portrays tax history, and describes principles of tax administration and the construction of schedules. Tax shifting, optimal taxation theory, and questions of tax justice are considered in...

The book studies growth paths in an overlapping generations model with land and exhaustible resources as factors of production. It is shown that land rules out inefficient growth paths.