Political business cycles and monetary policy revisited–an application of a two-dimensional asymmetric Taylor reaction function

This paper uses two-dimensional asymmetric Taylor reaction functions for 16 OECD-countries to account for different reactions to the inflation rate and output by central banks before or after an election of the fiscal authorities in the respective country. Important for such an investigation is not only the period before or after an election takes place but also whether the inflation rate and output are below or above their target or potential value because this information shows whether the central bank systematically deviates from the Taylor rule. Using a Panel-GMM we observe that in the OECD-countries there are political business cycles in monetary policy with respect to the inflation and output response. However, the supporting time horizon differs between both exogenous indicators and state of variables.     

Verlierer(-regionen) der Globalisierung in Deutschland: Wer? Warum? Was tun?

We describe the impact of globalisation across West German regional labour markets. The main losers are the Ruhr area, the Palatinate and Upper Franconia. The main winning regions are located mainly in Bavaria and Swabonia. The German manufacturing sector at large has gained from rising trade exposure to China and Eastern Europe. This is in sharp contrast to the experience of the United States and some European countries. The German experience could be one reason why the political discussion in this country is less prone towards trade protectionism than elsewhere. But policymakers should take the compensation of losers from globalisation more seriously than in the past.     

Developing CSR in retail–supplier relationships: a stakeholder interaction approach

The purpose of this research is to explore how a stakeholder interaction perspective can add to the understanding of the dynamics of the process of corporate social responsibility (CSR) development in retail buyer–supplier relationships. Firstly, we find that interaction with suppliers and other stakeholders seems to have a pivotal role in the development towards sustainable retail supply chains. Secondly, and by addressing the phases of initiation, implementation and maturation of CSR development, we find that the role and intensity of interaction in stakeholder interaction changes over time and that the salience of particular stakeholders can be pivotal in the phases of the process of CSR development. Thirdly, we find that there is not necessarily one active and one passive party in the stakeholder interaction. Although suppliers in developing countries are typically asked to follow codes of conducts of retailers, suppliers are also acting and taking initiatives, and organizing themselves to better meet the demands on CSR.     

Soziale Marktwirtschaft – das Fundament für Wachstum und Gerechtigkeit

Among all G20 countries, Germany has the lowest level of inequality in terms of disposable income. Germany’s tax and transfer system – which has a strong and effective redistributive impact compared with other countries – plays a key role in this connection. Over the past ten years, positive growth and employment trends have significantly improved opportunities for economic participation and have put a stop to previous trends towards greater income inequality. In order to safeguard efficient growth and redistributive policies in the future, it is essential for Germany to maintain sufficient incentives for investment, innovation and employment. Political reform strategies to ensure equality of opportunity should aim to achieve a more broad-based accumulation of private wealth and to strengthen labour force participation. The promotion of lifelong education and training, and the economic and social application of the knowledge created in this process, will play a decisive role in achieving these objectives.     

Neue Produkte schneller am Markt: Vorsprung durch Innovationslabors

Innovative Produkte systematisch und schnell zugleich zu entwickeln, ist für viele Unternehmen heute eine überlebensnotwendige Aufgabe. Konsumenten sollten daher früh in der Entwicklungsphase und nicht erst in der Testphase eingebunden werden. Innovationsmanagement muss zudem m?glichst alle berührten Abteilungen im Unternehmen einbeziehen. Dies erfordert besondere Instrumente. Innovationslabore sind ein Konzept, das die komplexen Anforderungen an das Innovationsmanagement extrem gut bedienen kann.     

Skandalberichterstattung in den Medien und die Folgen für die Demokratie

The worry that political scandals harm democracy is increasingly discussed whenever political affairs create public clamor. As people mostly learn about scandals by way of the media, the question arises whether intense coverage of scandals will have a detrimental effect on attitudes toward the legitimacy of the democratic system. Using survey and content analysis data, this research tests whether an influence of coverage on attitudes to the democratic system can be ascertained. It turns out that, aside from other factors, the use of certain newspapers and the use of informative media content with few political subjects negatively affect attitudes to the democratic system. Negative effects of scandal coverage were not found, though. Further analyses, however, revealed that the perception and evaluation of news coverage did have a clear effect on attitudes toward the legitimacy of democracy. Perception and evaluation of news coverage, the conception of politics, and attitudes to the political system form a complex cognitive texture that turns out to be rather delicate.