The ongoing process of globalization, which is boosted by technological and political catalysts as well, increasingly raises public concerns. It is feared that international integration will be accompanied by national disintegration, since the income distribution in rich countries will become...

Entgegen der Regierungsmeinung, eine Preisexplosion im Wohnungsmarkt bremsen zu müssen, kommen wir zu dem Ergebnis, dass die Nettokaltmieten in Deutschland in den letzten 20 Jahren preisbereinigt sogar gesunken sind. Unsere Daten zeigen, dass nur einige Kreise stark ansteigende Preise...

Antitrust issues increasingly reach beyond national borders. This paper addresses the question whether such issues can reasonably be solved by an extraterritorial application of national competition law or whether they call for an international competition policy of its own. The analysis is...

Internationale Direktinvestitionen, die als entscheidender Motor der Globalisie­rung gelten, werden mehr und mehr durch Fusionsaktivitäten dominiert. Seit Mitte der neunziger Jahre ist eine ausgeprägte Welle von Direktinvestitionen und eine entsprechende Welle grenzüberschreitender Fusionen...

This paper presents some ideas about determinants of merger waves and some evidence on their effect on profitability and employment. A brief survey of previous merger waves and an analysis of the recent one give support to the hypothesis that sectoral shocks are at the root of merger waves....

Catching-up of East German productivity to West German levels has completely faded out since the mid l990s. The remaining productivity gap cannot be attributed to an inferior capital endowment. Instead, it appears to be the result of an inappropriate design of industrial policy which fostered...

National borders substantially matter in passenger air traffic. Empirical estimates based upon a new data set on domestic and international departures from German airports indicate that the German border reduces air traffic activity by a factor of four to five. This result adds a further piece...