Die Automobilindustrie steckt in einem tiefgreifenden Transformationsprozess. Die Digitalisierung der Produktion schreitet voran; auf die Erarbeitung automobiler Geschäftsmodelle durch Tech-Firmen reagieren Automobilfirmen mit eigenen IT-Abteilungen und Kooperationen. Nischen-Akteure gewinnen...

This paper analyzes the factors underlying the weakness of the euro. For this purpose, the framework advocated by Clarida and Gali (1994) is used. Within this model, three structural shocks drive the dynamics of the endogenous variables: aggregate supply shocks, aggregate spending shocks, and...

The prospects for labour supply in Europe are considered. The analysis begins with a so-called labour market balance covering the development on an aggregate level. Estimations to shed light on the relation between unemployment and labour force participation are given in the second part of the...

If the technological revolution which has taken place over the past decades has lowered information costs and if information costs increase in distance, distance should – ceteris paribus – become less important in determining international bank lending. We are using a dataset on assets and...

In diesem Papier werden die Grundzüge der Strommarktregulierung in den Vereinigten Staaten und in Kalifornien dargestellt. Dabei wird zunächst auf die zentralen Vorgaben des Bundesgesetzgebers (PUHCA, FPA, PURPA, EPAct) und auf die Regulierungspolitik der Bundesregulierungsbehörde für...

A shortcoming of most empirical studies on aggregate exports is their exclusive focus on the demand side. Moreover, the effect of globalization is often neglected leading to implausibly high income elasticities. This paper models export demand and supply simultaneously and incorporates a new...

In this paper, we investigate the claim that German banks are special compared to banks in other industrialised economies. We show that banks are of particular importance to the German economy?as financial intermediary, as lender to the corporate sector, and as part of the corporate governance...