Two characterizations of the uniform rule for division problems with single-peaked preferences

Summary The uniform rule is considered to be the most important rule for the problem of allocating an amount of a perfectly divisible good between agents who have single-peaked preferences. The uniform rule was studied extensively in the literature and several characterizations were provided. The aim of this paper is to provide two different formulations and corresponding axiomatizations of the uniform rule. These formulations resemble the Nash and the lexicographic egalitarian bargaining solutions; the corresponding axiomatizations are based on axioms of independence of irrelevant alternatives and restricted monotonicity.The authors are grateful to Jeffrey Banks, Steve Ching, Vincent Feltkamp, Bezalel Peleg, Sang-Young Sonn, William Thomson and an anonymous referee for helpful comments.     

The nature of Austrian macroeconomic time series unit root tests

It is still an open question in economic and econometric modelling whether the non-stationarity in a time series is captured by detrending or by differencing. We test thirrteen Austrian macroenconomic time series for difference versus trend stationarity using informal methods and formal procedures developed by Dickey-Fuller and Phillips-Perron. To eliminate the effects of seasonal adjustment on the tests we apply a third procedure to the unadjusted data, recently developed by Hylleberg-Engle-Granger-Yoo. Independent of the seasonal adjustment the empirical results indicate that these series are integrated of order 1.     

The Relative Importance of Symmetric and Asymmetric Shocks: The Case of United Kingdom and Euro Area*

We show how a simple model with sign restrictions can be used to identify symmetric and asymmetric supply, demand and monetary policy shocks in an estimated two‐country structural VAR for the UK and Euro area. The results can be used to deal with several issues that are relevant in the optimal currency area literature. We find an important role for symmetric shocks in explaining the variability of the business cycle in both economies. However, the relative importance of asymmetric shocks, being around 20% in the long run, cannot be ignored. Moreover, when we estimate the model for the UK and US, the degree of business cycle synchronization seems to be higher. Finally, we confirm existing evidence of the exchange rate being an independent source of shocks in the economy.     

Digitalisierung im Gesundheitswesen — zwischen Datenschutz und moderner Medizinversorgung

The digital transformation of the healthcare branch is important and unstoppable. The enormous possibility of digitalisation to redesign and enhance processes has been shown in other branches. Digital technologies offer the similarly large potential to improve the quality and efficiency of healthcare services. However, in terms of digitalisation, the German health system lags behind other European countries. But given a lack of available evidence, the effects of the digitalisation of the healthcare system cannot be reliably evaluated. Digital access to patient data necessitates constructive error cultures in organisations in order to limit defensive medicine. And digital access to health information necessitates individual competence in searching and using this information for participatory decision-making. As with all technological progress, information security is very important in order to gain citizens’ confidence in a digital healthcare system. Thus, it is necessary to simultaneously pursue both enhanced privacy standards and state-of-the-art medical technology.     

Inflation und Schuldenabbau

The European Central Bank (ECB) recently announced its willingness to do whatever is needed to save the euro. This has raised the question whether such a role of the ECB must lead to higher rates of infl ation. Under current recessive macroeconomic conditions in the eurozone, the ECB’s expansionary monetary policy will not lead to higher infl ation. On the contrary, there is a serious danger of defl ation. Higher infl ation would likely occur only if a permanent stabilisation function were assigned to the ECB. Yet historical examples show that mistakes can be made. During the stagnation in Japan, US economists heavily criticised the Bank of Japan’s timid monetary policy response. But in some sense, current Fed policy seems to be a direct copy of that strategy, caused by uncertainty about the proper communication channel. An infl ation tax could help to bring down the mounting public debt in the wake of the fi nancial crisis, but higher wealth taxes have more transparent distributional effects.     

Rise in Occupational Mobility Especially Amongst Women and Young People

Original Papers

Rise in Occupational Mobility Especially Amongst Women and Young PeopleSuccessful jobsearch often based on personal initiative     

Moral rules and moral ideals: A useful distinction in business and professional practice

The distinction between moral rules and moral ideals is presented and explained in various ways. The authors propose that people in business are required to obey the moral rules and have a choice with respect to ideals. Thus, they are not in a different position from that of anyone else in society.Four case studies are presented and discussed. The analytical approaches used by the authors' students are summarized and evaluated. The moral rules/ideals paradigm is described as helping discussants of the cases to establish congruence between business ethics and their personal set of values. Other values of the classroom discussion of ethics cases are considered.John W. Hennessey, Jr., is Jones Professor of Management at the Amos Tuck School of Business Administration, Dartmouth College. Previously he was Dean of this school and President of the American Assembly of Collegiate Schools of Business. Bernard Gert is Stone Professor of Intellectual and Moral Philosophy at the Dartmouth College. From 1971 until 1974 and from 1979 until 1981 he was Chairman of the Philosophy Department and he was awarded the NEH-NSF Sustained Development Award 1980–1984. His most important publications are: The Moral Rules: A New Rational Foundation for Morality, Harper and Row, 1970, Harper Torchbook 1973, 2nd edition 1975, and Philosophy in Medicine: Conceptual and Ethical Issues in Medicine and Psychiatry, Oxford University Press, 1982 (co-authored with Charles M. Culver).Prof. Gert acknowledges support from the National Endowment for the Humanities, Grant RII-8018088 A03.     

Volkswirtschaftliche Politikberatung

Ohne Zusammenfassung Gert G. Wagner ist Inhaber des Lehrstuhls für Volkswirtschaftslehre an der TU Berlin, Forschungsdirektor am Deutschen Institut für Wirtschaftsforschung (DIW Berlin) und Mitglied im Wissenschaftsrat