Should we be more critical and nuanced when it comes to the metaphorical, notional and representational worlds that define innovation ecosystem? Through a deconstruction of two important ecosystem metaphor, we reveal a pronounced disaccord between the normative charge of respective notions on...

This paper presents a proposal for a regulatory regime aimed at reducing systemic risk effectively and internationally. Systemic relevance should be internalized with a levy (or tax), the level of which (or tax rate) rises with the systemic relevance of an institution (Pigouvian taxation). The...

The article illustrates how the integration of modern theory of finance and stochastic dynamic macroeconomic analysis provides a deeper understanding of the link between asset prices and consumption. It shows that this approach gives only a partial explanation for recent trends in US...

Recent econometric evidence has noticeably changed views on the desirability and the appropriate design of explicit Deposit Insurance Schemes (DIS). The purpose of this paper is to take a second look at the data. After surveying recent empirical work and providing a theoretical framework, we...

Die Bundesregierung hat mit dem sog. "Konjunkturpaket II" auf die Wirtschaftskrise reagiert und stellt insgesamt fast 50 Mrd. € zur Verfügung. Die Mittel sollen großenteils für Investitionen in Infrastruktur genutzt werden. Ulrich Klüh und Wolfgang Wiegard, Sachverständigenrat zur...

Im Jahr 1974 verunsicherten eine Reihe von Bankenkrisen viele der größten Volkswirtschaften der Welt. Die Prominenteste, die Herstattkrise in Deutschland, verursachte große Schockwellen durch das entstehende globale Finanzsystem. Rückblickend markiert die Krise den Beginn eines langen Trends...

The article explores regional policy issues at the nexus of economic geography and the recent academic literature on the political economy of digitalization. The objective is to blend these two areas of research to derive a first set of preliminary policy implications for so called "Smart...

What should be the role of the ECB in tackling the socio-ecological challenges related to planetary boundaries, such as climate change and loss of biodiversity? A clear answer to this question is still lacking, in spite of the strategy review of 2021. Regretfully, this review has not received...

Für konkrete Veränderungen der Arbeitswelt haben Blockchains nur geringe Bedeutung. Die meisten Versprechungen der Technik wurden nicht erfüllt, auch wenn sich in den entstanden Arbeitswelten Formen guter digitaler Arbeit finden. Als Digitalisierungsmythos beeinflussen Blockchains aber...

How can we toughen up the state against the backdrop of the transformative challenges of climate change, planetary boundaries, and technological progress? I examine this question through a fundamental analysis of the dimensions of democratic politics and the "management" of public affairs. I...