The upward sloping trend of rents and house prices has initiated a debate on the consequences of surging housing costs for wealth inequality and welfare. We employ a frictionless two-sectoral macroeconomic model with a housing sector to investigate the dynamics of wealth inequality and the...

What are the dynamic consequences of comprehensive integration shocks? The answer to this question appears all but trivial. We set up a dynamic macroeconomic model of a small open economy where both capital and labor are mobile and there are increasing returns to scale at the aggregate level....

Die bisherigen Daten scheinen auf eine lediglich begrenzte Einkommenskonvergenz zwischen Ost- und Westdeutschland anstatt auf eine Angleichung in absehbarer Zeit hinzudeuten. In diesem Beitrag konzentrieren sich die Autoren auf die Frage, ob in Deutschland zukünftig vollständige Konvergenz der...

We investigate the dynamic effects of interregional labor market integration on migration flows, capital formation, and the price for housing services. The co-evolution of these variables depends on initial conditions at the time of labor market integration. In an initially capital-poor economy,...

Dieser Mitbestimmungsreport widmet sich der aktuellen Situation der Belegschaftsaktien und Belegschaftsaktionäre in deutschen Großunternehmen. Belegschaftsaktien sind in Deutschland nach wie vor die am stärksten verbreitete Form der Mitarbeiterkapitalbeteiligung. Dazu tragen insbesondere die...

This paper sets up a simple AK-type growth model with heterogeneous consumption goods. It is shown that the (overall) intertemporal elasticity of substitution, the saving rate, and the growth rate of income unambiguously increase in the course of economic development. Moreover, the model offers...

The market solution of a general R&D-based endogenous growth model is developed. The model is general in two respects: First, general formulations are used and restrictions are only introduced provided that these become necessary. Second, each factor of production (labour, capital and...