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This paper describes the equilibrium properties and dynamics of a model which combines the key features of the standard incomplete market model (Aiyagari, 1994) with a standard endogenous growth mechanism to gain a deeper understanding of the feedback effects between growth and wealth inequality in the presence of credit frictions and idiosyncratic risk. We characterize growth equilibria and find that a balanced growth path not necessarily exists if households are subject to ad hoc borrowing constraints. Growth, inequality, and risk are positively related in our model, but we also identify a hump-shaped relationship between welfare and risk, indicating a tradeoff relationship between risk-pooling and growth in the determination of welfare. The growth rate responds to changes in the wealth distribution and displays transitional dynamics towards the balanced growth path. (C) 2015 Elsevier Inc. All rights reserved.
A Local Dimension of Integration Policies? A Comparative Study of Berlin, Malmo, and Rotterdam
(2015)
This study examines three theses on local integration policies by a qualitative comparative case study of integration policies in three cities in three different countries (Berlin, Malmo, and Rotterdam). We found little evidence of a congruent local dimension of integration policies. Local policies resemble their national policy frameworks fairly well in terms of policy approaches and domains. Our multi-level perspective shows that this is not the result of top-down hierarchical governance, but rather of a multilevel dynamic of two-way interaction. Local policy legacies and local politics matter and national policies are also influenced by local approaches of integration.
We investigate whether people are more willing to become self-employed during boom periods or during recessions and to what extent business cycles and unemployment levels influence entries into entrepreneurship. Our analysis for Germany reveals that there is a positive relationship between unemployment rates and start-up activities. Moreover, new business formation is higher during recessions than in boom periods, implying that it is counter-cyclical. When disentangling periods of low and high unemployment we find that the effect of unemployment on new business formation is only statistically significant if the level of unemployment is below the trend, indicating a "low unemployment retain effect".
Germany experienced a unique rise in the level of self-employment in the first two decades following unification. Applying the nonlinear Blinder-Oaxaca decomposition technique, we find that the main factors driving these changes in the overall level of self-employment are demographic developments, the shift towards service sector employment and a larger share of population holding a tertiary degree. While these factors explain most of the development in self-employment with employees and the overall level of self-employment in West Germany, their explanatory power is much lower for the stronger increase in solo self-employment and in self-employment in former socialist East Germany.
Wir sind eine IdeenUni
(2015)
The objective of this article is to explore the value of networked foresight: foresight conducted in innovation networks for the benefit of the network and its partners with active contributions from the partners. Strategic management, specifically the dynamic capabilities approach and vast literature on corporate and strategic foresight argue that deficiencies like one-dimensionality, narrow-sightedness and myopia of closed corporate processes are remedied by incorporating external sources. A broad knowledge base promises to especially benefit foresight in multiple ways. Thus, created an analytical framework that integrates the dynamic capabilities approach with existing results on potential value contributions of foresight, enriched with existing findings in networked foresight and organizational design in the light increasing importance of inter-organizational networks. We conducted a series of interviews and a survey among foresight practitioners in a network to explore the perceived value proposition of networked foresight for the network partners and the network itself. The analysis is based on data drawn from the Err ICT Labs network of large industry corporations, small-and-medium sized companies, and academic and research institutes. Our study shows that network partners use the results primarily for sensing activities, i.e. data collection and to a lesser extend activity initiation. More sensitive and fundamental organizational aspects such as strategy and decision-making or path-dependency are less affected. Especially SMEs may benefit substantially from network approaches to foresight whereas MNEs are more confident in their existing corporate foresight processes and results. The value for the network itself is substantial and goes beyond value creation potential for companies as discussed in literature. The development of a shared vision relatable to organizational learning and reconfiguration capabilities was identified as particularly valuable for the network. (C) 2014 The Authors. Published by Elsevier Inc.