Wende am Ölmarkt?

Die Roh?lpreise geben nach, die schon greifbar nahe 80-US-$-Marke ist erst einmal in die Ferne gerückt. Zeigt sich hier eine Gew?hnung an die andauernden geopolitischen Risiken, und bestimmen nun wieder fundamentale Marktdaten st?rker die Preisentwicklung am ?lmarkt? Klaus Matthies, 59, Dipl.-Volkswirt, ist Referent für Rohstoffpreise im Hamburgischen Welt-Wirtschafts-Archiv (HWWA).     

Ölpreisspirale ohne Ende?

Der Mineral?lbedarf in der Welt nimmt kr?ftig zu und ?l verteuert sich weiter. Die Preise für Benzin erreichten nach den Sturmsch?den im Golf von Mexiko neue Rekorde. Wird ?l demn?chst noch teurer?     

Effizienter Steuerverbund statt korrigierender Finanzausgleich

Der für diese Legislaturperiode geplante zweite Teil der F?deralismusreform bietet die Chance eines grundlegenden Systemwechsels. Wie k?nnen die widerstreitenden Finanzinteressen der Bundesl?nder mit den Anforderungen an die Anreizeffizienz des Systems in Einklang gebracht werden? Prof. Dr. Ulrich van Suntum, 53, ist gesch?ftsführender Direktor des Centrums für angewandte Wirtschaftsforschung der Universit?t Münster (CAWM); Klaus Hafemann, 32, Dipl.-Volkswirt, ist wissenschaftlicher Mitarbeiter am CAWM.     

The Making of Entrepreneurs in Germany: Are Native Men and Immigrants Alike?

This paper uses a state of the art three-stage estimation technique to identify the determinants of the self-employed immigrant and native men in Germany. Their making is surprisingly alike. Employing data from the German Socioeconomic Panel 2000 (GSOEP) release we find that self-employment is not significantly affected by exposure to Germany or by human capital. But this choice has a very strong intergenerational link and it is also related to homeownership and financial worries. While individuals are strongly pulled into self-employment if it offers higher earnings, immigrants are additionally pushed into self-employment when they feel discriminated. Married immigrants are more likely to go into self-employment, but less likely when they have young children. Immigrants with foreign passports living in ethnic households are more likely self-employed than native Germans. The earnings of self-employed men increase with exposure to Germany, hours worked and occupational prestige; they decrease with high regional unemployment to vacancies ratios. Everything else equal, the earnings of self-employed Germans are not much different from the earnings of the self-employed immigrants, including those who have become German citizens. However, immigrants suffer a strong earnings penalty if they feel discriminated against while they receive a premium if they are German educated.     

Schulden und Versorgungsverpflichtungen der Länder: Was ist und was kommt?

Neben den Zahlungsverpflichtungen aus ihren Kreditmarktschulden haben die L?nder Versorgungsverpflichtungen gegenüber ihren pensionierten Beamten. Wie hoch sind derzeit die expliziten Schuldenquoten der L?nder und wie hoch ist die Gesamtschuld aus Versorgungsverpflichtungen und Kreditmarktschulden? In welchem Ausma? würde eine übernahme der Reformma?nahmen bei der gesetzlichen Rentenversicherung auf die Beamtenversorgung die künftige Belastung der Haushalte verringern? Prof. Dr. Bernd Raffelhüschen, 48, ist Direktor des Instituts für Finanzwissenschaft und Volkswirtschaftlehre I an der Albert-Ludwigs-Universit?t Freiburg; Dr. Daniel Besendorfer, 33, war wissenschaftlicher Mitarbeiter und Emily Phuong Dang, 28, Dipl.-Volkswirtin, ist wissenschaftliche Mitarbeiterin an diesem Institut.     

The legal liability of auditors in Germany

The European Union tried to harmonize the qualifications of auditors in member states through the Eighth Company Law Directive. However, other aspects of the regulation of auditors have not been dealt with in EC directives and show a wide diversity. Rules concerning the liability of auditors are one example of this diversity. Germany provides an extreme example in the case of this liability problem, since it is operating with a capped liability and providing third parties with only few possibilities to sue an auditor. This limited liability is probably one reason for a small number of cases. The purpose of this article is to describe and to review critically the German system of auditor's liability, and to identify specific environmental German factors which might explain the current system.     

Fairness quality: a conceptual model and multiple-item scale for assessing firms’ fairness – an exploratory study

Abstract

Scholars suggest that fairness is a precursor to ethical firm behaviour. Existing research suggests that (1) commonly used single-item fairness measures lack reliability and validity, and (2) single-item scales do not contribute to understanding fairness as a multidimensional concept. Using the means-end framework, we develop a measure of fairness quality (FQ) of service experience. We conceptualise, construct, refine and test the FQ scale over multiple stages of data collection. Using the soft-laddering interviewing technique, we initially explore FQ attributes. Subsequently, we design and conduct two surveys to test the FQ measure. The final scale contains 18 items in four dimensions: transparency, associations, moderations and process. The FQ scale demonstrates good psychometric properties, passing all reliability and validity tests. The scale extends existing research on fairness and provides a new conceptualisation of FQ. Marketers are encouraged to manage their FQ systematically to stimulate social and ethical behaviour. We present theoretical and managerial implications, with future research directions.     

Böhm-Bawerk,Jevons and the 'Austrian' theory of capital: 'a quite different relation'

The paper examines the relationship between the interest theories of Jevons and Böhm-Bawerk. Although their results can easily be reconciled mathematically, Böhm-Bawerk's ‘misunderstanding’ of the Jevonian formula reveals a fundamental difference concerning their derivation. Despite their formal similarity, the two models exhibit a different conceptual architecture and thus also attach quite different meanings to the concept of the interest rate. Rather than trying to reconcile them, the paper suggests to analyse their relationship as part of an entire transformation, which can be equally traced between the value and price theories of the two authors.