While historians of economics have noted the transition toward empirical work in economics since the 1970s, less understood is the shift toward \quasi-experimental" methods in applied microeconomics. Angrist and Pischke (2010) trumpet the wide application of these methods as a \credibility...

The aviation industry changed dramatically in the wake of the Airline Deregulation Act of 1978. My paper looks at an element of this transformation - the policy according to which take off and landing slots were allocated at congested airports including a proposal to change this policy - an...

Zusammenfassung Mit Argumenten aus der „Theorie des Marktversagens“ und der „Neuen Politischen Ökonomie“ kann gezeigt werden, daß Universitäten und Forschungsinstitute spezielle „Öffentliche Güter“ produzieren, die eine Grundfinanzierung durch den Staat unter...

Arguably, one of the most important developments in the field of applied economics during the last decades has been the emergence of systematic policy evaluation, with its distinct focus on the establishment of causality.By contrast to the natural sciences, the objects of our scientific interest...

An important puzzle in international macroeconomics is the exchange rate disconnect puzzle. Based on recent empirical literature by Mussa (1986), Baxter and Stockman (1989), and Flood and Rose (1995), high exchange rate volatility under floating rates appear not to be related to the high...

The Australian Trade Deficit (TD) has been increasing in the past 50 years, and this deficit has become more significant in the last few decades. This rising TD level in Australia has brought the national debt level to a new height, making this country one of the world?s highest debt-ridden...

With the rapid development of the global economy, intellectual capital has become a critical driver of a business's sustainability. The essential difference between companies operating in the 'old' and the 'new' economy is that, where value in the past was created within industrial sectors such...

Douglass North gehört zu den führenden Sozialwissenschaftlern des 20. Jahrhunderts. Er wurde für seine bahnbrechenden Leistungen auf dem Gebiet der ökonomischen Geschichtstheorie mit dem Nobelpreis ausgezeichnet. Dieser Aufsatz rekonstruiert (a) seine kliometrische Diagnose der Moderne, (b)...

The geographical definition of markets is a crucial challenge for economists. With the availability of multiple tools to compare prices, the idea of market definition is entering a new era as it infiltrates the digital sphere. Since December 1st, 2013 the market transparency unit of the Federal...