Durch den Maastrichter Vertrag soll Europa auf den Weg zu einer solidarischen und subsidiären Währungsunion gebracht werden. Nach einer Übersetzung dieser Begriffe in ökonomische Termini werden die Konsequenzen für die Fortentwicklung der EG-Finanzen untersucht. Es zeigt sich, daß das...

Neben der EU-Agrarpolitik ist es vor allem die EU-Kohäsionspolitik, die in ihrer derzeitigen Gestalt eine Osterweiterung kaum finanzierbar erscheinen läßt. Die Kohäsionspolitik hat das Ziel, regionale Entwicklungsunterschiede einzuebnen. Sie ist dabei mit der Gefahr behaftet, daß sie...

An important question for the development of the East German labour market in the transition to a market economy is whether wage differentials by qualification, industry or region which were relatively small in the former GDR adjust to those in market economies which are more in line with...

We study an investment experiment with a representative sample of German households. Respondents invest in a safe asset and a risky asset whose return is tied to the German stock market. Experimental investments correlate with beliefs about stock market returns and exhibit desirable external...

Since the negotiation of the Maastricht Treaty in December 1991 expectations on the new European currency could possibly influence European interest rates. The focus of this paper is both on the theoretical and empirical analysis of the link between European Monetary Union (EMU) and German...

In this empirical paper we analyze the link between homeownership across cohorts and the net wealth distribution. In particular we are interested in the effect of the pattern of ownership across cohorts. Given that wealth accumulates over the life-cycle and that owners are wealthier than...

Since the financial crisis, central banks have stressed the role of trust and communication in connection with their objectives and strategies for aligning the public's inflation expectations with their own and, consequently, improving the effectiveness of monetary policy. Assessing how much the...

In this paper, we analyse the recording behaviour of German consumers in a one week diary on their point-of-sales expenditures. We are particularly interested in the effect of a behavioural experiment, eliciting respondents’ risk preferences, on their recording behaviour. In the experiment,...