New COVID-related results for estimating the shadow economy in the global economy in 2021 and 2022

International Economics and Economic Policy - Considering the development of the shadow economy of 36 European and OECD countries over the period from 2003 to 2022 and the effect of the Coronavirus...     

Verantwortlich Organisieren

Gute Organisation als Wert — Der barmherzige Samariter aus der Bibel leistet nicht nur die Erstversorgung eines überfallenen, sondern ist auch Organisator: Er sorgt für Pflege und gibt Geld dafür. Beides zusammen kann heute kein Einzelner mehr leisten. Viele Professionelle arbeiten im Behandlungsprozess zusammen, was gute Organisation erfordert.     

Possible External Shocks to Asia in 2001: How Vulnerable Are the Regional Economies?

In 2001, threats of a U.S. economic slowdown, a moderation of economic growth in the EU, sharp deceleration of the global electronics cycle, and high oil prices could be some of the potential external shocks clouding Asia's economic outlook. This article analyzes these external shocks and assesses which Asian economies are most (or least) vulnerable to these exogenous shocks. © 2001 John Wiley & Sons, Inc.     

Implications of the US Tax Reform for Transatlantic FDI

On 22 December 2017 President Trump signed the Tax Cuts and Jobs Act. This corporate tax reform can be considered the most significant amendment of the US corporate tax code since 1986. Besides the reduction of the corporate income tax rate from 35% to 21%, the Tax Cuts and Jobs Act entails features like a switch from worldwide income taxation to territorial taxation, as well as immediate deductions for certain assets. This leads to a substantial improvement for the US in global tax competition. In this paper, we analyse the effects of the US tax reform on FDI flows between Europe and the US. We find that European high-tax countries in particular will suffer from a net outflow of FDI.     

Monopsony in the Labor Market,Minimum Wages and the Time Horizon: Some Unresolved Issues

This article discusses development of optimal solutions for monopsony in the labour market for the long run (when labour and capital are both flexible). It is shown that binding minimum wages up to a certain degree pushes the monopsonists to choose a high capital intensity of production, just as high as or even higher than that chosen when there is no regulation for minimum wages. Thereby, we demonstrate the existence of re-switching effects in the tradition of Piero Sraffa. The second part of the paper recalculates and analyzes earlier results by making use of the rather general constant elasticity of substitution production function. Based on a numerical solution for optimal monopsony under different regimes (no minimum wage, minimum wages of different values, etc.), we formulate a two-period game between the government and the monopsonistic firm (‘minimum wage game’). Finally, we analyze the relationship between the elasticity of substitution on the one hand and likely levels of employment on the other hand, after introduction of minimum wages.     

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