bluuebunny/crossref_metadata_2025_split huggingface dataset:
Bedeuten deutsche Direktinvestitionen im Ausland einen ‘Export’ deutscher Arbeitsplätze?
Authors: Jörg Volkswirt 
Published: May 2016

Abstract
This article provides an empirical assessment of a German ‘job export’ through foreign direct investment (FDI). To do this it highlights the rather problematic statistical registration of FDI. A theoretical framework is given, whereafter home country employment effects are derived from different motivations for FDI. While ‘cost oriented’ FDI are substitutive in nature and have a negative effect on home country employment, ‘market oriented’ FDI are supposed to strengthen the export basis, hence home production and employment. Statistically the structure of German FDI by industry and host regions indicates a predominance of ‘market orientation’. Exploring the motivation for German FDI by an error correction model ‘market orientation’ and ‘cost orientation’ are pervasive but with some differences in industries. In a cross-sectional analysis of FDI and employment in Germany FDI-intensive industries show a better employment performance than less FDI-intensive industries. All in all, the empirical basis for a German ‘job export’ is weak. German FDI seem to have a rather positive net employment effect. Finally, policy conclusions are drawn.
Die Liberalisierung des deutschen Telekommunikationsmarktes: Zukünftige Regulierungserfordernisse im Lichte bisheriger Erfahrungen
Authors: Knieps Günter , Vogelsang Ingo , Witte Eberhard 
Published: May 2016

Abstract
This economic policy forum focuses on the liberalisation of the German telecommunication market. In view of former experiences future regulation requirements are discussed. Günter Knieps stresses that the problem of market power is central for answering the question of future division of labour between sector-specific regulations and the application of the competition law. Net-specific market power is only expected in monopolistic bottlenecks characterised by irreversible costs so that sector-specific regulations should be exclusively restricted to these monopolistic bottlenecks. Knieps aims at establishing service as well as infrastructural competition in competitive telecommunication markets. He argues that the telecommunication markets should not be distorted by regulations. Another aspect of Knieps’ article is the question how the mobile telecommunication market should be regulated. He examines whether the mobile telecommunication markets are characterised by monopolistic bottlenecks. However, Knieps does not find evidence for the existence of the latter. Finally, the author concludes that slimy regulations of net-specific market power is necessary to use all advantages provided by liberalised telecommunication markets. Therefore, the concept of “essential facility” should be employed.
Ingo Vogelsang emphasises that the telecommunication sector is characterised by a great volume of investment. Rapid technical progress and fast changing markets can lead to uncertainty which makes investment insecure. On the one hand, Vogelsang points out that regulations can reduce the investors’ uncertainty. On the other hand, he reminds the reader that regulations can raise risk of investments. The main aspect in this context is the increasing uncertainty in law. Therefore, the author proposes regulative decisions that are predictable in the long run. Yet, long-term plans specifying definite time plans for regulations would not be successful. In contrast, the author suggests time independent development steps. For this reason, Vogelsang introduces a “Four Step Plan of Regulation” discussed in this article.
Eberhard Witte remarks that the current regulations in the German telecommunication market result from several reform steps. He points out that the reforms in other countries, as e.g. in the United States or the United Kingdom have advancedthe liberalisation in Germany. Hence he describes the process of the German telecommunication market liberalisation with regard to the speed and the sequence of political actions. According to Witte’s opinion, the necessary rearrangements of the German telecommunication market are not yet finished. The author emphasises that one problem remains: Should new competitors be allowed to use the old infrastructure or should they be required to implement their own? Finally, he tries to answer this question for Germany and draws comparison to the experience of other countries.
Zur Rationalität einer beschäftigungsorientierten Mittelstandsförderung
Authors: Schulz Eckehard 
Published: May 2016

Abstract
This study yields the impact of firm size as a determinant of employment. Using the theoretical framework of labor elasticities, it is argued that Small and Medium sized Enterprises (SME’s) are superior in creating jobs if an increase in their share - by reducing the share of large firms - stimulates the aggregate demand for labor. This could be due to a (static) more labor intensive production technology and/or a (dynamic) higher efficiency. The so determined Mittelstands-hypothese is theoretically and empirically examined. Further - from an ordoliberal perspective - the question is raised whether other indicators are more qualified to boost employment and to refresh market forces in the longrun.
Unternehmensfusionen im Zeitalter der Globalisierung
Authors: Voigt Stefan , Kleinert Jörn , Klodt Henning , Wenger Ekkehard 
Published: May 2016

Abstract
This economic policy forum is assigned to the relevance of mergers in the era of globalization. Stefan Voigt argues that the number as well as the relevance of mergers has dramatically increased over the last couple of years. This has led to demands to modify the competition policies based on nation-state institutions but also to introduce an international competition policy. In his contribution, arguments in favor of merger-control as well as the possible relevance that globalization may have for merger policy are discussed shortly. The main emphasis, however, is on a discussion about whether competition is a useful method to discover adequate competition rules. The author is rather skeptical with regard to this prospect.
Jörn Kleinert and Henning Klodt show that mergers are observed mainly in large companies, so called "Megafusionen" a fact that demonstrates a domination of horizontal integration. They analyse these mergers with the help of the theory of transaction costs. Furthermore the authors argue that global economies of scale, which are due to headquarter services, have an impact on competition. This requires a more critical policy. Therefore Kleinert and Klodt demand for new international competition rules which go beyond the improved application of the national ones.
In his contribution on firm mergers, Ekkehard Wenger describes the often mentioned advantages of realising economies of scale and scope from a critical point of view. He notes that more than half of the "mega-mergers" can be seen as having failed. In this context, the question on the efficiency of fully functional capital markets is raised, as the latter could have prevented such failures. The author analysis this point of view by elaborating on the question about what conflicts of interests form the background in front of which the capital market functions or not. By referring to the principle-agent-theory, he shoes, how important this aspect is for assessing whether the mechanisms of corporate governance, which exist in reality, work or not. Wenger notes, that pressure groups like e.g. large investment banks support mergers planned by the management, which are not in the interest of the share holders. The writer says that instead of enacting legal regulations, the wage structure of all individuals, especially the management, in the firms which are affected by the merger should be changed
Zur Reform der Altersvorsorge – ein konstitutionenökonomischer Vorschlag
Authors: Voigt Stefan , Wagner Gert G. 
Published: May 2016

Abstract
Modifications in pay-as-you-go pension schemes are regularly met with broad public opposition. It is therefore rational for politicians who are interested in reelection to delay necessary reforms as long as possible. Short-termism is the result. Drawing on the concepts of constitutional economics, the characteristics of an old age provision system for which unanimous consent could be assumed are sketched. Then, a proposal to reform the current scheme is developed. Rather than discussing yet another formula, an institutional arrangement - a pension chamber - is proposed that sets incentives to take long run effects of old age provision systems explicitly into account. Recurring on political economy, it is shown that politicians can have an interest in the delegation of powers which is necessary for the implementation of the proposal.
Zur aktuellen Diskussion der Implikationen elektronischen Geldes für den Geldumlauf und die Geldpolitik
Authors: Kempa Bernd 
Published: May 2016

Abstract
Electronic money has a huge potential as an international medium of exchange, particularly for transactions via the Internet. This paper analyzes the likely consequences of this development for the money market and the effectiveness of monetary policy. A high degree of substitutability of electronic money with conventional money implies a heightened degree of instability of money demand. At the same time, the money supply process will be characterized by higher and more unstable multiplier effects. Refinancing operations, open market operations and foreign exchange market operations will increasingly lose their effectiveness as electronic money displaces conventional money. Fine tuning of the money supply and the effectiveness of discretionary monetary policy will consequently be impeded. In a world of electronic money the conduct of monetary policy should therefore solely be oriented towards maintaining price stability.
Prognosen zum E-Commerce - Ungewissheiten über das zukünftige Potenzial des elektronischen Handels
Authors: Mai Stefan 
Published: May 2016

Abstract
E-Commerce - an application of the internet - has expanded exponentially over the past five years and is widely expected to continue to develop rapidly. The potential of electronic commerce has caught the imaginations of politicians and business people. Yet, it is difficult to measure the current (and future) magnitude of e-commerce. Even more challenging is trying to assess the value of transactions within the latter, since defining what constitutes electronic commerce has proven to be somewhat intricate. A number of consulting groups, however, has published estimates of e-commerce transactions. These projections will be discussed in this paper. Furthermore, the paper shows that the future potential of e-commerce is uncertain, and points out that political authorities have to take this into account when considering prospective regulations for this industry.
Das Verhältnis zwischen Antidumpingpolitik und Wettbewerbspolitik: Konflikte und Lösungsansätze
Authors: Theuringer Martin 
Published: May 2016

Abstract
Classic antidumping measures serve to protect domestic firms against unfair import competition, but they have frequently undesirable, anti-competitive side effects. In this article, it is shown, that antidumping policy in the 1990s continues to favour cartelization and price collusion. It will be argued that the reform of antidumping policy rules should not be linked to international competition policy rules. Rather, during the next multilateral trade talks, the existing rules should be reformed in a way, which ensures that antidumping actions become compatible with a competition promoting policy.
Reforming the World’s Financial Order. Institutional and Theoretical Aspects
Authors: Müller Anton P. 
Published: May 2016

Abstract
Modern financial markets are characterized by rapid innovation and expansion as well as intensive internationalization. The liberalization of capital markets since the 1980s has been accompanied by a shift from structural regulation towards prudential supervision along with endeavors to establish international norms on capital adequacy. During the same period, the markets have been hit by a series of crises, which have caused concern that more strict and direct controls are warranted.
This paper argues that although liberalized capital markets do in some way possess an inherent tendency towards instability, almost all cases of severe disturbances in the international capital markets are the result of excessively expansive fiscal and monetary policies, which at some point had to give way to a sharp liquidity contraction. In order to stabilize the system, the monetary and fiscal authorities quite often accelerated expansive measures, exposing investors, lenders and borrowers to misleading interest rate and price signals which resulted in a postponement of the adaptation process and in a number of cases to the prolongation of stagnation. Given the international integration of modern financial markets, misplaced monetary and fiscal policies cause various international spillover effects. Repeated bailouts of borrowers and creditors by central banks, governments and international institutions have led to the persistence of moral hazard, as the assumption of implicit guarantees to stabilize financial markets has lowered the perception of risk and resulted in over-exposure.
This analysis leads to the conclusion that while more strict regulations might be applied to off-balance financial innovations and that capital adequacy norms should be more strictly enforced on an international level, further direct control seems to bring more harm than good and deflect the attention from the causes of financial instability, which are the inadequate control of liquidity.
Rationale Wirtschaftspolitik in einem komplexen System
Authors: Streit Manfred E. 
Published: May 2016

Abstract
Starting point for the present analysis is the finding, that a market economy represents an interactive complex and open system. A discussion of these properties emphasised by systems theory leads to the result, that attempts to steer such a system by means of economic policy have to face narrow boundaries, which can only be surpassed by initiating unpredictable reactions of the system. As a consequence the steering knowledge is considered to be unsatisfactory from the point of view of an economic policy guided by the rationality principle. This leads to the question, how interventions should look like, which comply with the steering properties of the system. It requires a reformulation of the criterion of systems conformity by drawing on two processes, which govern the economic performance of the system. According to this criterion, interventions should neither interfere with the self-coordination of the actors nor with their self control by competitive action. Considering typical examples of interventions leads to the unpleasant result that there are good reasons to accept the hypothesis of rent-seeking as a salient feature of economic policy-making. Interventions emerge from the interaction between a rent-seeking lobby and rent-creating political actors. Finally considering scientific policy advice, a conflict between the advisor who himself has committed to systems conformity, and the advised political actor, who is involved in rent-creating, is bound to emerge. This conflict can only be solved by engaging in constitutional reforms, which change the incentive situation of political actors completely. However, such reforms are difficult to bring about, because they manifestly go against the interests of political actors who have to set their own constitutional rules.
Zur Rentenproblematik: Lösungswege und Reformvorschläge. Nach der Reform ist vor der Reform: Weitere Schritte für eine nachhaltige Reform der Altersvorsorge in Deutschland
Authors: Börsch-Supan Axel 
Published: May 2016

Zusammenfassung
Auch nach der Rentenreform 2000 wird das Alterseinkommen im Wesentlichen von der umlagefinanzierten gesetzlichen Rentenversicherung getragen werden. Die zumeist unterschätzte Alterung der Bevölkerung und die nach wie vor bestehenden Anreizeffekte auf das Arbeitskräfteangebot werden daher weiterhin die gesetzliche Rentenversicherung unter großen Druck setzen.
Dieses Papier vertritt den Standpunkt, dass eine nachhaltige Sanierung der Rentenversicherung weitere Reformschritte benötigt. Die umlagefinanzierte Pflichtversicherungssäule sollte versicherungsmathematisch angepasst werden, den Versicherten ein transparentes Kontensystem anbieten und die Beitragssätze auf ihrer jetzigen Höhe einfrieren. Die neue freiwillige Zusatzversorgung sollte als Mischform der zweiten und dritten Säule gestaltet werden, um die anstehende Alterslast verlässlich finanzieren zu können. Sie bedarf ferner einer einheitlichen und in sich konsistenten Besteuerung sowie flankierender Kapitalmarktbestimmungen.
Alfred Müller-Armack – der Schöpfer des Begriffs “Soziale Marktwirtschaft”
Authors: Willgerodt Hans 
Published: May 2016

Abstract
After the Second World War centralized economic planning was seen as more or less unavoidable for economic recovery in most European countries including West Germany, with its destruction of all kinds and millions of destitute refugees. But as early as in 1945 Alfred Miiller-Armack proposed quite another remedy for recovery: West Germany should abolish its repressed inflation by a currency reform and at the same time return to a market economy. He called his concept “Social Market Economy” as a new type of economic order. It was intended to harmonize economic progress and free competitive markets with social stability and security in a more comprehensive sense. He became professor economics at the universities of Munster and Cologne. In 1952 the German reformer of economic policy and minister of economic affairs Ludwig Erhard appointed him as head of the department for principal issues in his ministry and in 1958 as secretary of state for European affairs. Miiller-Armack got the chance to apply his concept in political practice. This proved to be very successful, if one takes into account the difficulties and irrationalities of the political process. He became one of the leading German negotiators in the conferences establishing the European Economic Community, but resigned after de Gaulle’s veto against the admission of Denmark and the United Kingdom. The author examines in detail the controversial term “social” in Muller-Armack’s concept of a market economy. He concludes that seeming conflicts between socalled social aims and a free market can be made irrelevant to a large extent, if certain principles and limits are observed and aspects beyond supply and demand are included.
Inflation Forecast Targeting: A Monetary Policy Strategy without Shortcomings?
Authors: Clausen Jens R. 
Published: May 2016

Abstract
This paper provides a critical discussion of the benefits and shortcomings of the concept of inflation forecast targeting (IFT) which is becoming the dominating monetary policy strategy in theory and practice. The paper contains an analysis of the more practical and institutional aspects arising when following an inflation forecast targeting regime as well as a discussion of the theoretical reasoning behind it. The setting of an inflation target itself is a useful instrument to increase accountability. That is because the public can make judgements on how successful monetary policy has been. The concept of IFT also ensures that monetary policy is forward-looking. Nevertheless, this paper will argue that the theoretical reasoning behind IFT has limitations. The assumed monetary transmission process is too one-sided and the role of money is not incorporated adequately. Inflation forecast targeting does not necessarily ease the business of communication by focusing on inflation forecasts as the main communication vehicle. On the contrary, there are substantial difficulties in explaining the implications of conditional or unconditional forecasts. Forecasts as complementing devices are surely useful and important in monetary policy making. The discussion of transparency and credibility within an IFT regime neglects the fact that in the long term credibility relies on the degree of price stability achieved and not the publication of minutes.
Gesundheitsreform: Ende der Krise oder Krise ohne Ende?
Authors: Knappe Eckhard , Härter Stefan , Lauterbach Karl W. , Stock Stephanie , Evers Thomas , Zweifel Peter 
Published: May 2016

Abstract
The German Statutory Health Insurance System (Gesetzliche Krankenversicherung) has been in a continuous reform process for the past twenty years. Therefore this economic policy forum is assigned to the question: Health reform: End of the crisis or never-ending crisis?
Eckhard Knappe and Stefan Horter argue that this reform process was mostly dominated by the model of a cost-containment policy. Most health economists are not in favour of a global cost-containment policy, because it cannot solve the structural deficiencies within the system. As a result they recommend a further strategy of deregulation so that competitive processes will be enforced. Moreover Knappe and Horter show that this in turn will be more responsive to the preferences of the insured and patients and sets incentives for insurers and health-providers to follow efficiency goals in a static and dynamic way in order to mitigate the future burden of the demographic changes.
Karl W. Lauterbach, Stephanie Stock and Thomas Evers determinate the thesis that medical innovation and future demographic changes will lead to increased prevalence of chronic diseases and thus to a strong increase of health expenditures are well established, putting the health care system into a permanent financial crisis. This article demonstrates that such a crisis will not necessarily occur in Germany. There is evidence that prevention measures and disease management programs can induce significant cost savings for highly prevalent chronic diseases like diabetes mellitus, colon-carcinoma, ischemic heart diseases, and cerebrovascular diseases. The cost savings could result from delayed onset of chronic disease (due to prevention) and fewer complications (due to disease management) for such diseases. 20% of all health care costs are caused by 20% of the insured, mostly due to chronic disease. Despite these implications, a final conclusion about the future health expenditures cannot be drawn.
Switzerland often conceives of itself as a special case, and with regard to health care, it may well be one determines Peter Zweifel. In his article he argues that individuals have free individual choice of social health insurers and can express their preferences in the public domain rather directly, while competition in health care is fostered both by the new Law on Health Insurance of 1994 (LHI 94) and the new Law on Cartels of 1996. He discusses the objectives of the players involved in the promulgation of the LHI 94 and points out its inherent contradictions. Furthermore, Zweifel concludes by sketching additional future reforms that hold the promise of serving the objectives of insureds and patients by improving the ratio of expected benefits to cost in Swiss health care.
Wie erfolgreich sind Maßnahmen zur Förderung von ausländischen Direktinvestitionen? Empirische Befunde aus den Transformationsländern
Authors: Beyer Jürgen 
Published: May 2016

Abstract
Because of the scarcity of capital the attraction of FDI became an objective which was followed with topmost priority in many post-socialist countries. But how effective were the introduced incentives? The comparative analysis shows that in spite of the advantageous effects of FDI on the transition process, the introduction of tax concessions appears to be of little value. No significant relationship between tax incentives and the level of FDI could be found. This however does not mean that the development of FDI was detached from political control. The way in which privatization took place had a big impact and a comparatively low general level of taxes influenced investments positively. Beyond this the general success of transformation was of importance for the attractiveness of a country.