This paper explores the long run relationship between public and private investment in the euro area in terms of capital stocks and gross investment flows. Panel techniques accounting for international spillovers are employed. While private and public capital stocks are cointegrated, the evidence is quite fragile for public and private investment flows. They enter a long run relationship only after ...
In line with the neoclassical growth model a persistent stream of oil revenues might have a long lasting impact on GDP per capita in oil exporting countries through higher investment activities. This relationship is explored for Iran and the countries of the Gulf Cooperation Council (GCC) using (panel) cointegration techniques. The existence of cointegration between oil revenues, GDP and investment ...
In the following, we present the earliest input-output table for Germany: It covers 40 economic branches, five final demand categories and five primary inputs. The symmetric table for 1936 is completely based on original statistical data and does not rely on separate supply and use tables. The core of our endeavour is based on the German industrial census of 1936. Originally, this census and its forerunner ...
The benefits of dual apprenticeship programs are usually discussed in the context of reducing structural unemployment rates, especially among the young. Related to this, the long-run benefits of dual apprenticeship programs are extensively analyzed in the literature. However, empirical evidence regarding the short-run effects of the business cycle on the number of apprenticeships is scarce. In this ...
Despite high economic growth during the past decades, China is still vulnerable to shocks arising from industrial states. The advanced economies strongly influence Chinese export performance, with subsequent effects on output growth. Using a production function, this article examines to which extent regional GDP growth in China is export driven. In a panel of 28 Chinese provinces, series are splitted ...
Die deutsche Wirtschaft hat nach einem schwachen Sommerhalbjahr wieder einen stabilen Aufwärtskurs eingeschlagen. Im laufenden Jahr wird das Bruttoinlandsprodukt um insgesamt 1,5 Prozent zunehmen. Die Produktion dürfte im weiteren Verlauf des Prognosezeitraums relativ stetig steigen, sodass für das kommende Jahr ein Wachstum von 1,4 Prozent und für das Jahr 2016 von 1,7 Prozent zu erwarten ist. Das ...
Die von Lebensversicherungen angebotenen Privatrententarife können einen Inflationsschutz nicht garantieren. Die effektive garantierte Beitragsrendite lag in der vorliegenden Untersuchung von 48 Versicherungstarifen bei lediglich 1,02 Prozent und bei den Marktführern sogar nur bei 0,94 Prozent. Verantwortlich hierfür sind erhebliche Kosten, deren Ausmaß dem Kunden in der Regel verborgen bleibt. Er ...
