According to many observers the world is currently becoming more risky in many ways. In this paper we analyse how the welfare state, i.e. social insurance which works through redistributive taxation, should deal with this trend. We distinguish between risks that can be insured by the welfare...

One of the main reasons to include pay-as-you-go (PAYG) schemes in multi-pillared pension systems is that they may entail beneficial risk-sharing and diversification features. However, depending on the "pension formula" these features vary significantly for different types of PAYG schemes. We...

We augment a standard tax model by concerns about tax equity: people get upset when labour is taxed more heavily than capital. Even the slightest concern for tax equity invalidates the common recommendation for small open economies that capital should remain tax-exempt. This holds for exogenous...

Hier erhalten Sie einen Überblick über die vielfältigen Anwendungsmöglichkeiten von Künstlicher Intelligenz im Marketing. Das Buch erklärt einfach und verständlich die dahinterliegende Technologie und ihre Wirkungsmechanismen. Dabei verfolgt es einen ganzheitlichen Ansatz, der alle...

The term “metaverse” describes the merging of the virtual and physical world. The underlying technical development leads to a change in market conditions and should enable new business models – also in the area of the festival economy. The text is dedicated to the opportunities and...