Das Leben in Grenzregionen innerhalb der Europäischen Union ist gerade für die jüngeren Generationen oftmals normal geworden. Das Überschreiten der Grenzen gehört zum Alltag. In den letzten Jahren, bis vor der Flüchtlingskrise, verloren nationalstaatliche Grenzen grundsätzlich im Hinblick...

We characterize the optimal linear tax on capital in an Overlapping Generations model with two period lived households facing uninsurable idiosyncratic labor income risk. The Ramsey government internalizes the general equilibrium feedback of private precautionary saving. For logarithmic utility...

We study the sustainability of pension systems using a life-cycle model with distortionary taxation that sets an upper limit to the real value of tax revenues. This limit implies an endogenous threshold dependency ratio, i.e. a point in the cross-section distribution of the population beyond...

Das Leben in Grenzregionen innerhalb der Europäischen Union ist gerade für die jüngeren Generationen oftmals normal geworden. Das Überschreiten der Grenzen gehört zum Alltag. In den letzten Jahren, bis vor der Flüchtlingskrise, verloren nationalstaatliche Grenzen grundsätzlich im Hinblick...

We consider identification and estimation of nonseparable sample selection models with censored selection rules. We employ a control function approach and discuss different objects of interest based on (1) local effects conditional on the control function, and (2) global effects obtained from...

We examine the standard New Keynesian economy's Ramsey problem written in terms of instrument settings instead of allocations. Its standard formulation makes two instruments available: the path of current and future interest rates, and an "open mouth operation" which selects one of the many...

This paper presents a new measure of capital flow pressures in the form of a recast exchange market pressure index. The measure captures pressures that materialize in actual international capital flows as well as pressures that result in exchange rate adjustments. The formulation is...

We consider identification and estimation of nonseparable sample selection models with censored selection rules. We employ a control function approach and discuss different objects of interest based on (1) local effects conditional on the control function, and (2) global effects obtained from...

Zur Lösung des Economic Lot Scheduling Problems (ELSP) finden sich in der Literatur drei Ansätze mit unterschiedlich einschränkenden Annahmen: - Ansatz des gemeinsamen Produktzyklus (Common-Cycle-Approach) - Ansatz der gemeinsamen Basisperiode (Basic-Period-Approach) - Ansatz der variierenden...

Gegenwärtig werden auf Landesebene Systeme der formelgebundenen Mittelzuweisung auf Hochschulen und auf Hochschulebene auf Fakultäten eingeführt, mit denen die Mittelzuweisung stärker nach Leistungskriterien erfolgen soll. So begrüßenswert diese Systeme grundsätzlich sind, so sind sie in...

There have been attempts to resurrect the fiscal theory of the price revel (FTPL). The original FTPL rests on a fundamental compounded fallacy: confusing the intertemporal budget constraint (IBC) of the State, holding with equality and with sovereign bonds priced at their contractual values,...

We characterize the optimal linear tax on capital in an Overlapping Generations model with two period lived households facing uninsurable idiosyncratic labor income risk. The Ramsey government internalizes the general equilibrium feedback of private precautionary saving. For logarithmic utility...

Habits are an important cause of sluggish consumption adjustment in response to price shocks. This paper studies shifts within the consumption bundle under endogenous habit formation. I put forward a model with good-specific, or "deep", habits that cause persistence in good-specific consumption....