In this paper I aim to try defining New Political Economy (NEP) as the economic study of politics, with a macroeconomic focus. It emerged from the influences mainly from the criticism of theory of economic policy, political business cycle research, public choice theory and new institutional...

In dieser Arbeit wird der Nachweis erbracht, dass es im Rahmen der neoklassischen Theorie nicht möglich ist, grundlegende Probleme der Transformation realsozialistischer Wirtschafssysteme im Hinblick auf Unternehmen zu erkennen. Um diesen Defiziten begegnen zu können, wird der Versuch eines...

This paper analyzes the design of innovation contests when the quality of an innovation depends on the research approach, but the best approach is unknown. Inducing a variety of research approaches generates an option value. We show that suitable contests can induce such variety. The...

This paper presents a model in which a central and a local supervisor contribute their efforts to obtain information on the solvency of a local bank, which is then used by the central supervisor to decide on its early liquidation. This hierarchical model is contrasted with the alternatives of...