This paper explores how revenue-neutral tax reforms impact employment and economic growth in a model of endogenous growth and search frictions on the labor market. We analyze how savings and the incentive to create new jobs are affected by tax swaps between wage income taxes, payroll taxes,...

An Hand eines OLG-Modells vom Auerbach-Kotlikoff-Typ werden in dieser Arbeit die gesamtwirtschaftlichen Wirkungen einer ökologischen Steuerreform untersucht. Das Aufkommen aus einer indirekten Steuer auf den Umweltverbrauch wird zur Senkung der Beiträge zur Sozialversicherung verwendet. Es...

Post-apartheid South Africa is facing three major economic problems: (1) slack economic growth, (2) high and growing unemployment and (3) among the world's highest income inequality and poverty indices. South Africa is currently caught in a macro-economic straight-jacket of tight monetary,...

The representation of the economic system, from a complexity perspective, focuses on interactions among heterogeneous agents in conditions of uncertainty. Heterogeneity entails asymmetric reactions to shocks and, through interaction mechanisms and feedback loops at micro, macro and meso level,...

A fall in house prices due to a change in its fundamental value redistributes wealth from those long housing (for whom the fundamental value of the house they own exceeds the present discounted value of their planned future consumption of housing services) to those short housing. In a closed...

The paper investigates the impact the provision of public capital has on the demand for private capital and labour using a cost function with public capital included as a fixed unpaid factor of production. Special attention is paid to the examination of the influence tax vs. debt financing of...

This paper examines whether the productivity growth in the West-German states is influenced by the provision of public infrastructure. Medium-term labour productivity growth and output growth varies a lot between German states. This differences are more pronounced during the eighties. The...

The present paper presents an analysis of the impact of public infrastructure capital on regional economic developments in Germany. After presenting some descriptive statistical data on the economies of the 11 regions in (West) Germany a simple theoretical model of a cost-minimizing firm is...

By applying the concepts of institutional and constitutional economics, this paper addresses the question to what extent a reform of the stability pact will be efficient and appropriate. The starting point of the analysis is the assumption that the stability pact will yield disciplining effects...

A fall in house prices due to a change in fundamental value redistributes wealth from those long housing (for whom the fundamental value of the house they own exceeds the present discounted value of their planned future consumption of housing services) to those short housing. In a closed economy...