A unified framework for understanding asset prices and aggregate fluctuations is critical for understanding both issues. I show that a real business cycle model with external habit preferences and capital adjustment costs provides one such framework. The estimated model matches the first two...

The two notions of temporal and thermodynamic irreversibility are distinguished. It is shown that the irreversibility concept of Arrow-Debreu, while establishing temporal irreversibility, does not encompass thermodynamic irreversibility. This means, the standard irreversibility concept of...

Das Lehrbuch bietet eine leicht zugängliche Einführung in die Theorie betrieblicher Wertschöpfung. In einem einheitlichen Rahmen behandelt es sowohl wesentliche Modelle und Aussagen der traditionellen Produktions- und Kostentheorie als auch grundlegende Aspekte des Produktionsmanagement. Der...

The purpose of this chapter is to review dental economics in three major areas: (i) demand for and utilisation of dental care, (ii) productivity, technical efficiency and economies of scale in dental care production, and finally (iii) economic evaluation of dental care procedures and programmes....