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Quo vadis, Schuldenbremse? Über Sinn und Unsinn detaillierter Defizit- und Schuldenregelungen im Grundgesetz
No full textThe German debt brake forces the German government to target a very specific public deficit to GDP ratio. A ruling of the German constitutional court has drawn attention to the debt brake, as it is to be enforced more tightly than the federal German government previously thought. In this article, the author argues that the debt brake should be abolished. It does not do what it is supposed to do - the sustainability of public debt depends on the European Central Bank's Dealer of Last Resort function and nothing else. As a side effect, the debt brake curtails government spending at a time of close to zero net public investment and huge requirements for more public spending
Spatial decisions of multinational enterprises and their effect on local firms
Full text linkSince the 1980s empirical research has been conducted on the influence of MNEs on local firms. The spillovers predicted by growth theory models used in the research designs have not been found. The main result is the importance of increased competition for the productivity of local firms. When FDI flows expanded rapidly in the 1990s, it became clear that MNEs play an important role in international technology transfer. However, growth theory models are limited in that market structures and firms cannot be modeled explicitly. The New Economic Geography (NEG) is better equipped to handle these issues. Instead of spillovers it relies on linkages. Therefore, new insights might be gained by basing empirical research on a NEG model and looking for linkages among firms
Going Beyond Counting First Authors in Author Co-citation Analysis
Full text linkThe present study examines one of the fundamental aspects of author co-citation analysis (ACA) - the way co-citation
counts are defined. Co-citation counting provides the data on which all subsequent statistical analyses and mappings
are based, and we compare ACA results based on two different types of co-citation counting - the traditional type that
only counts the first one among a cited work's authors on the one hand and a non-traditional type that takes into
account the first 5 authors of a cited work on the other hand. Results indicate that the picture produced through this non-traditional author co-citation counting contains more coherent author groups and is therefore considerably clearer. However, this picture represents fewer specialties in the research field being studied than that produced through the traditional first-author co-citation counting when the same number of top-ranked authors is selected and analyzed. Reasons for these effects are discussed
Spatial decisions of multinational enterprises and their effect on local firms
Full text linkSince the 1980s empirical research has been conducted on the influence of MNEs on local firms. The spillovers predicted by growth theory models used in the research designs have not been found. The main result is the importance of increased competition for the productivity of local firms. When FDI flows expanded rapidly in the 1990s, it became clear that MNEs play an important role in international technology transfer. However, growth theory models are limited in that market structures and firms cannot be modeled explicitly. The New
Economic Geography (NEG) is better equipped to handle these issues. Instead of spillovers it relies on linkages. Therefore, new insights might be gained by basing empirical research on a NEG model and looking for linkages among firms
Replik: Geld und Kredit ex nihilo: Fakt oder Fiktion?
No full textIn der Septemberausgabe 2017 veröffentlichte der Wirtschaftsdienst einen Aufsatz von Georg Quaas zur aktuellen Kritik an der makroökonomischen Geldtheorie. Dirk Ehnts setzt sich mit diesem Aufsatz kritisch auseinander und vertritt die Auffassung, dass auch heute noch in weiten Teilen der Lehre die Geldschöpfung falsch - und nicht vereinfacht - dargestellt wird. Im Anschluss erläutert Georg Quaas in einer Erwiderung seinen Standpunkt.In Wirtschaftsdienst 9/2017, Georg Quaas picks up the current discussion on monetary theory. With references to some p ublications by central banks, he shows that the textbook theory is still empirically correct but in need of a few clarifications. Dirk Ehnts argues that this position is refuted by recent reports published by - among others - the Deutsche Bundesbank. He shows that the process of money creation is still not correctly described in frequently used textbooks. Ehnts states that the money multiplier an d loanable funds theory should be discarded. Quaas replies that Ehnts ignores the rules of scientific development, especially the need for recognised and replicable statements as a precondition of falsifi cations. Furthermore, Quaas argues that Ehnts's empirical arguments are incomplete and imprecise , and the submitted theoretical argument (Keynesian identity) is not applicable to a two level monetary system
The euro zone crisis: What would John Maynard do?
No full textIn his letter to US President Franklin D. Roosevelt Keynes (1933) wrote about "the technique of recovery itself". An increase in output is brought about by an increase in purchasing power, Keynes argues, which can come from three sectors: households, firms and government. Using the IS/MY macroeconomic model developed by Ehnts (2014), which features sectoral balances and endogenous money, the situation of some euro zone members is examined with a focus on the three techniques of recovery: increases in debt of the respective sectors as defined by Keynes. A fourth technique, an increase in spending by the rest of the world, is added. The conclusion is that the policy recommendation given by Keynes in his letter also holds for the euro zone at present: a rise in debt-financed government expenditure. Some reform at the institutional level in Europe would enable "the technique of recovery" to work via the TARGET2 payment system, which is organized along Keynes' International Clearing Union proposal and a solid foundation to build on
Von Keynes lernen: Ann Pettifor plädiert für mehr Aufklärung über die Produktion des Geldes
Full text linkAnn Pettifor: Die Produktion des Geldes: Ein Plädoyer wider die Macht der Banken. Hamburg: Hamburger Edition 2018. 386854318
"Was wir nicht importieren, hat auch keinen Einfluss auf unsere Preise": Sechs Fragen an Dirk Ehnts zu Inflation und Modern Monetary Theory
Full text linkVariations on the Author
Full text link“Variations on the Author” discusses two of Eduardo Coutinho’s recent films (Um Dia na Vida, from 2010, and Últimas Conversas, posthumously released in 2015) and their contribution to the general question of documentary authorship. The director’s filmography is characterized by a consistent yet self-effacing form of authorial self-inscription: Coutinho often features as an interviewer that rather than express opinions propels discourses; an interviewer that is good at listening. This mode of self-inscription characterizes him as an author who is not expressive but who is nonetheless markedly present on the screen. In Um Dia na Vida, however, Coutinho is completely absent form the image, while Últimas Conversas, on the contrary, includes a confessional prologue that moves the director from the margins to the center of his films. This article examines the ways in which these works stand out in the filmography of a director who offers new insights into the notion of cinematic authorship
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