This paper analyses the impact of technological capabilities on convergence. While looking at the relevance of differences in technological capabilities has a long tradition in economics when it comes to explaining persistent deviations in income, we provide econometric tests on the role of...

Die konjunkturelle Erholung in Deutschland hat im Jahresverlauf 2021 wieder spürbar an Schwung eingebüßt. Nach den Belastungen zum Jahresanfang durch den Lockdown im Gefolge der zweiten und dritten Infektionswelle der Corona-Pandemie machen den Industrie- und Bauunternehmen fehlende...

This paper replicates the article Fiorito and Kollintzas (2004) "Public goods, merit goods, and the relationship between private and government consumption". The authors investigated whether government consumption crowds out private consumption by splitting government consumption into two...

We utilize a relatively standard endogenous growth model with intermediaries and research and development (R&D). We augment the setup with government regulations to study the effect of regulations on aggregate allocations. The novelty is that we endogeneize the problem of the regulator, so the...

We consider the aggregate and distributional impact of Universal Basic Income (UBI). We develop a model to study a wide range of UBI programs and financing schemes and to highlight the key mechanisms behind their impact. The most crucial channel is the rise in distortionary taxation (required to...

Die Corona-Pandemie bestimmt zwei Jahre nach ihrem erstmaligen Auftreten in Deutschland nach wie vor das gesellschaftliche und ökonomische Leben. Selbst wenn im Jahresverlauf 2022 die gesamtwirtschaftliche Leistung wieder das Vorkrisenniveau erreicht, entstehen weiterhin Einbußen im Vergleich...

Small island developing states (SIDS), such as Barbados, must continually adapt in the face of uncertain external drivers. These include demand for exports, tourism demand, and extreme weather events. Climate change introduces further uncertainty into the external drivers. To address the...

This paper examines how the governance context and financial institutions may relate to different aspects of a country's financial system before and after a crisis. Using a fixed-effects regression model for panel data and a comparative perspective, we assess longitudinal trends in the...

"Creating conditions for more people to have property income" has become a national policy after the 17th National Congress of the Communist Party of China. Based on the micro survey data from Chinese Family Panel Studies (CFPS) in 2010, 2012, 2014, 2016 and the macro panel data at the...

Using administrative wealth records from Denmark, we study the effects of wealth taxes on wealth accumulation. Denmark used to impose one of the world's highest marginal tax rates on wealth, but this tax was drastically reduced and ultimately abolished between 1989 and 1997. Due to the specific...