We develop a growth model with endogenous technological progress in which the financial sector plays an explicit role. Thereby we discuss the role of different financial regimes in the growth process. We contrast a bank-dominated financial system with a market-dominated system. In the first one...

In diesem Aufsatz wird im Rahmen eines dynamischen spieltheoretischen Oligopolmodells die gewinnoptimale Preis- und Werbeentscheidung untersucht. Diese Entscheidungen sind strategisch miteinander verknüpft. In der ersten Spielstufe werden unter Berücksichtigung der Auswirkung auf das...

We analyze the possibility and consequences of coalition-formation amongst suppliers of retail services. We first provide a framework in which producers of Substitutes have an incentive to Cluster in market places in order to attract consumers dispersed in space. Owing to spatial externalities,...

This paper constructs a dynamic two-regional general equilibrium model, in which the interregional production and trade patterns are endogenously determined. By embedding an endogenous growth mechanism in this approach, it becomes possible to show why and how localized growth with different...

Recent empirical work has shown that there exists a negative relation between wages and unemployment estimated across regions. Our model recognises the spatial dimension of the so-called wage curve by using a Hotelling/Salop framework in which a finite number of firms compete for heterogeneous...

Das wesentliche Ergebnis dieses Beitrags ist lediglich eine Anwendung des von Pigou (1947) behaupteten und Atkinson/Stern (1974) formal bestätigten Theorems, daß ein Tausch einer neutralen Finanzierungsquelle durch eine verzerrende Steuer die optimale Höhe öffentlicher Ausgaben an der Grenze...

Problems related to labor migration on a large scale in South-North as well as in East-West direction are high on the agenda. This papers presents an endogenous growth model for two regions with human capital formation as the engine of growth. The model is used to analyze the growth (rate)...

This paper analyzes the influence Leveraged Buyouts (LBOs) have on the operating performance of the LBO target companies' direct competitors. A unique and hand-collected data set on LBOs in the United States in the period 1985-2009 allows us to analyze the effects different restructuring...

[Ausgangssituation] Seit geraumer Zeit sind die Auswirkungen des anhaltenden Niedrigzinsumfelds Gegenstand der politischen Diskussion und in der breiteren Öffentlichkeit. Sparer erhalten für ihre Einlagen nahezu keine Nominalverzinsung mehr. Die Verzinsung von deutschen Bundesanleihen kurzer...

This paper aims to analyze the effects of financial constraints and the financial crisis on the financing and investment policies of newly founded firms. Thereby, the analysis adds important new insights on a crucial segment of the economy. We make use of a large and comprehensive data set of...