Articles in refereed journals

Top Field Journals*

A-Journals

"What Marx Means Today", CESifo Working Paper No. 6463, May 2017, will be published in Economic Affairs 2017, also in "Was uns Marx heute noch zu sagen hat", in: M. Greffrath, ed., RE: Das Kapital. Politische Ökonomie im 21. Jahrhundert, Antje Kunstmann: Munich 2017, pp. 73-90. Broadcasted as "Essay und Diskurs", Deutschlandfunk, March 19th, 2017 and also in "Aus Politik und Zeitgeschichte", Notebook 19-20/2017, May 8th, 2017, pp. 23-28.

"The Fossile Episode" (together with John Hassler), CESifo Working Paper No. 4016, 2012(Download, 532 KB), and in Journal of Monetary Economics 83, August 2016, pp. 14-26.

"The Pay-as-you-go Pension System as a Fertility Insurance and Enforcement Device"Journal of Public Economics 88, 2004, pp. 1335- 1357; (Download, 214 KB)CESifo Working Paper No. 154, 1998; NBER Working Paper No. 6610, June 1998.

"The Selection Principle and Market Failure in Systems Competition"Journal of Public Economics 66, 1997, pp. 247-274; (Download, 1.28 MB)CESifo Working Paper No. 103, 1996; NBER Working PaperNo. 5411, March 1999.

"Foreign Direct Investment, Political Resentment and the Privatization Process in Eastern Europe" (together with A. Weichenrieder), Economic Policy 24, 1997, pp. 179-210; (Download, 1.2 MB)CESifo Working Paper No. 129, 1997.

"Privatization, Risk-Taking, and the Communist Firm" (jointly with D. Demougin), Journal of Public Economics 55, 1994, pp. 203-231; (Download, 947 KB)CESifo Working Paper No. 16, 1992; NBER Working Paper No. 4205, March 1995.

"The Vanishing Harberger Triangle"Journal of Public Economics 45, 1991, pp. 271-300; (Download, 1.9 MB)NBER Working Paper No. 3225, October 1991.

"The Non-neutrality of Inflation for International Capital Movements"European Economic Review 35, 1991, pp. 1-22; (Download, 1.4 MB)NBER Working Paper No. 3219, August 1991.

"Tax Harmonization and Tax Competition in Europe"European Economic Review 34, 1990, Papers & Proceedings, pp. 489-504; (Download, 1.1 MB)NBER Working Paper No. 3248, January 1991.

"Gradual Reforms of Capital Income Taxation" (together with P. Howitt), American Economic Review 79, 1989, pp. 106-124; (Download, 453 KB).

"Two-moment Decision Models and Expected Utility Maximization", comment on J. Meyer, American Economic Review 79, 1989, pp. 601-602 (Download PDF, 119 KB).

"The 1986 U.S. Tax Reform and the World Capital Market"European Economic Review 32, Papers & Proceedings, 1988, pp. 325-333; (Download, 621 KB).

"Why Taxes Matter. A Comment on Reagan's Tax Reforms and the US-Trade Deficit"Economic Policy 1, 1985, pp. 239-250; (Download, 276 KB).

"Taxation, Growth, and Resource Extraction: A General Equilibrium Approach"European Economic Review 19, 1982, pp. 357-386; (Download, 2.03 MB).

"Kinked Utility and the Demand for Human Wealth and Liability Insurance"European Economic Review 17, 1982, pp. 149-162; (Download, 786 KB).

"A Rehabilitation of the Principle of Insufficient Reason"Quarterly Journal of Economics 94, 1980, pp. 493-506; (Download, 329 KB).

"The Efficiency of Insurance Markets", European Economic Review 11, 1978, pp. 321-341; (Download, 2.67 MB).

B+-Journals

"Share Repurchases, the 'New' View, and the Cost of Capital"Economics Letters 36, 1991, pp. 187-190; (Download, 242 KB).

"The Economic Theory of Species Extinction. Comment on Smith"Journal of Environmental Economics and Management 9, 1982, pp. 194-198; (Download, 347 KB).

B-Journals

"Pensions and the Path to Gerontocracy in Germany" (together with S. Übelmesser), European Journal of Political Economy 19, 2002, pp. 153-158; (Download, 114 KB); "When will the Germans Get Trapped in their Pension System?" (together with Silke Uebelmesser), CESifo Working Paper No. 561, September 2001; NBER Working Paper No. 8503, October 2001.

"Germany's Economic Unification. An Assessment After Ten Years"Review of International Economics 10, 2002, pp. 113-128; (Download, 117 KB)CESifo Working Paper No. 247, February 2000; NBER Working Paper No. 7586, March 2000.

"Eurowinners and Eurolosers: The Distribution of Seignorage Wealth in EMU" (together with H. Feist), European Journal of Political Economy 13, 1997, pp. 665- 689; (Download, 1.08 MB)CESifo Working Paper No. 134, 1997; NBER Working Paper No. 6072, May 1999.

"A Theory of the Welfare State"Scandinavian Journal of Economics 97, 1995, pp. 495-526; (Download, 941 KB)CESifo Working Paper Nr. 65, 1994; NBER Working Paper No. 4856, April 1996.

"Pigou and Clarke Join Hands"Public Choice 75, 1993, pp. 79-91; (Download, 1.1 MB) .

"Expected Utility, μ-σ Preferences, and Linear Distribution Classes: A Further Result"Journal of Risk and Uncertainty 3, 1990, pp. 277-281; (Download, 296 KB)NBER Working Paper No. 1491, January 1991.

"Vacant Land and the Role of Government Intervention"Regional Science and Urban Economics 16, 1986, pp. 353-385; (Download, 2.0 MB).

"Common Property Resources, Storage Facilities and Ownership Structures: A Cournot Model of the Oil Market"Economica 51, 1984, pp. 235-252; (Download, 451 KB).

Articles in other refereed journals

"The Green Paradox: A Supply-side View of the Climate Problem"Review of Environmental Economics and Policy 9 (2), 2015, pp. 239-245 (Download, 75 KB)CESifo Working Paper No. 5385, June 2015(Download, 108 KB).

"Austerity, Growth and Inflation: Remarks on the Eurozone’s Unresolved Competitiveness Problem", The World Economy 37 (1), 2014, pp. 1-13 (Download, 248 KB)CESifo Working Paper No. 4086, January 2013 (Download, 206 KB).

"Target loans, current account balances and capital flows: the ECB’s rescue facility" (together with Timo Wollmershäuser), International Tax and Public Finance 19 (4), 2012, pp. 468-508 (Download, 2 MB); (updated version of CESifo Working Paper No. 3500, June 2011 and NBER Working Paper 17626, November 2011); (Download, 946 KB).

"Please Bring me the New York Times – On the European Roots of Richard Abel Musgrave"International Tax and Public Finance 16 (1), 2009, pp. 124–135; (Download, 4.0 MB)CESifo Working Paper No. 2050, July 2007; (Download, 83 KB).

"Public Policies against Global Warming: a supply side approach"International Tax and Public Finance 15 (4), 2008, pp. 360-394; (Download, 1.9 MB)CESifo Working Paper No. 2087, August 2007;(Download, 841 KB).

"The Pathological Export Boom and the Bazaar Effect. How to Solve the German Puzzle"The World Economy 29 (9), 2006, pp. 1157-1175; (Download, 309 KB)CESifo Working Paper No. 1708, April 2006; (Download, 200 KB).

"Due ‚Mezzogiorni’" (together with Frank Westermann), L’industria 27, 2006, pp. 49-51; (Download, 436 KB).

"Europe’s Demographic Deficit. A Plea for a Child Pension System"De Economist 153, 2005, pp. 1-45;(Download, 1 MB); Authorised Abstract (Download, 9 KB); Tinbergen Lectures, (Download Preliminary Version).

"Migration and Social Replacement Incomes. How to Protect Low-income Workers in the Industrialized Countries Against the Forces of Globalization and Market Integration"International Tax and Public Finance 12, 2005, pp. 375-393; (Download, 268 KB)CESifo Working Paper No. 1265, August 2004; NBER Working Paper No. 10798, September 2004.

"The Dilemma of Globalisation: A German Perspective"Economie Internationale 100, 2004, pp. 111-120; (Download, 1.2 MB).

"EU Enlargement, Migration and the New Constitution"CESifo Economic Studies 50, 2004, pp. 685-707.

"The New Systems Competition"Perspektiven der Wirtschaftspolitik 5, 2004, pp. 23-38; (Download, 137 KB). German version: "Der neue Systemwettbewerb"Perspektiven der Wirtschaftspolitik 3, 2002, pp. 391- 407; (Download, 154 KB)CESifo Working Paper No. 623, December 2001; NBER Working Paper No. 8747, January 2002.

"Social Union, Convergence and Migration" (together with W. Ochel), Journal of Common Market Studies 41, 2003, pp. 869-896; (Download, 732 KB)CESifo Working Paper No. 961, June 2003.

"Weber's Law and the Biological Evolution of Risk Preferences: The Selective Dominance of the Logarithmic Utility Function, 2002 Geneva Risk Lecture"The Geneva Papers on Risk and Insurance Theory 28, 2003, pp. 87-100; (Download, 94 KB)CESifo Working Paper No. 770, September 2002.

"Risk Taking, Limited Liability and the Competition of Bank Regulators"Finanzarchiv 59 (3), 2003, pp. 305-329; (Download, 4.6 MB)CESifo Working Paper No. 603, 2001; NBER Working Paper No. 8669, 2001.

"EU Enlargement and the Future of the Welfare State", Stevenson Citizenship Lectures, Scottish Journal of Political Economy 49, 2002, pp. 104-115; (Download, 135 KB)CESifo Working Paper No. 307, June 2000; Working Paper No. 2001_5, Department of Economics, University of Glasgow.

"The Value of Children and Immigrants in a Pay-as- you-go Pension System: A Proposal for a Transition to a Funded System"ifo Studien 47 (1), 2001, pp. 77-94; (Download, 3.9 MB)CESifo Working PaperNo. 141, 1997; NBER Working Paper No. 6229, October 1997.

"Two Mezzogiornos" (together with F. Westermann), Rivista di diritto finanziario e scienza delle finanze 60, 2001, pp. 29-54; also in: M. Bordignon, D. da Empoli, eds., "Politica fiscale, flessibilità dei mercati e crescita“, Franco Angeli: Milan, pp. 43-66; (Download, 5.98 MB)CESifo Working Paper No. 378, December 2000; NBER Working Paper No. 8125, February 2001.

"Green Tax Reform and Competitiveness" (together with E. Koskela and R. Schöb), German Economic Review 2, 2001, pp. 19-30; (Download, 1.49 MB).

"The Threat to the German Welfare State"Atlantic Economic Journal 28, 2000, pp. 279-294;(Download, 933 KB) CESifo Working Paper No. 320, July 2000.

"Why a Funded Pension System is Useful and Why It is Not Useful"International Tax and Public Finance 7, 2000, pp. 389-410; (Download, 174 KB)CESifo Working Paper No. 195, 1999; NBER Working Paper No. 7592, March 2000.

"EU Enlargement, Migration, and Lessons from German Unification"German Economic Review 1, 2000, pp. 299-314; (Download, 1.1 MB)CESifo Working Paper No. 182, 1999.

"A Simple Model of Privately Profitable but Socially Useless Speculation" (together with M. C. Kemp), Japanese Economic Review 51, 2000, pp. 85-95; (Download, 832 KB)NBER Working Paper No. 3513, November 1990.

"Pollution, Factor Taxation and Unemployment" (together with E. Koskela and R. Schöb), International Tax and Public Finance 5, 1998, pp. 379-396; (Download, 182 KB)CESifo Working Paper No. 151, 1998.

"European Integration and the Future of the Welfare State"Swedish Economic Policy Review 5, 1998, pp. 113-132; (Download, 6.57 MB)CESifo Working Paper No. 153, 1998.

"Social Insurance, Incentives and Risk Taking"International Tax and Public Finance 3, 1996, pp. 259-280; (Download, 1.3 MB)CESifo Working Paper No. 102, 1996; NBER Working Paper No. 5335, November 1995.

"Staggering Along. Wages Policy and Investment Support in East Germany"The Economics of Transition 3, 1995, pp. 403-426; (Download, 819 KB)CESifo Working Paper No. 67, 1994.

"How much Europe? Subsidiarity, Centralization and Fiscal Competition"Scottish Journal of Political Economy 41, 1994, pp. 85-107; (Download, 939 KB)CESifo Working Paper No. 39, 1993. German translation: "Wieviel Brüssel braucht Europa?", Staatswissenschaften und Staatspraxis 2, 1994, pp. 155-186.

"Do Firms Maximize their Cost of Finance?"Finanzarchiv 50, 1993, pp. 21-36; (Download, 699 KB).

"American Economic Policy and the International Debt Crisis"Journal of International and Comparative Economics 2, 1993, pp. 207-226; (Download, 632 KB)NBER Working Paper No. 3532, December 1990.

"Privatization in East Germany", in: P. Pestieau, Hrsg., Public Finance in a World of Transition (IIPF congress St. Petersburg 1991), Public Finance, Supplement to Vol. 47, 1992, pp. 152-171; (Download, 748 KB)CESifo Working Paper No. 8, 1991; NBER Working Paper No. 3998, February 1992.

"Taxation and the Cost of Capital: The 'Old' View, the 'New' View, and Another View", in: D. Bradford, ed., Tax Policy and the Economy 5, 1991, National Bureau of Economic Research, pp. 25-54;(Download, 968 KB)NBER Working Paper No. 3501, December 1991; Woodrow Wilson School - Discussion Paper No. 59, Princeton, 1990.

"The Limits to Competition between Economic Regimes" (Antrittsvorlesung an der Universität Wien), Empirica 17, 1990, pp. 3-14; (Download, 745 KB).

"Expected Utility and the Siegel Paradox"Zeitschrift für Nationalökonomie 50, 1989, pp. 257-268;(Download, 660 KB).

"U.S. Tax Reform 1981 and 1986: Impact on International Capital Markets and Capital Flows"National Tax Journal 41, 1988, pp. 327-340 (background paper for World Development Report, World Bank, 1988); (Download, 3.54 MB).

"The Sahel Problem"Kyklos 41, 1988, pp. 187-213; (Download, 652 KB).

"Sufficient Conditions for a Vanishing Clarke Tax - A Note"Zeitschrift für Nationalökonomie 46, 1986, pp. 65-72; (Download, 349 KB).

"Psychophysical Laws in Risk Theory"Journal of Economic Psychology 6, 1985, pp. 185-206.(Download, 1.4 MB).

"Surprise Price Shifts, Tax Changes and the Supply Behaviour of Resource Extracting Firms", (together with N.V. Long), Australian Economic Papers 24, 1985, pp. 278-289; (Download, 499 KB).

"International Capital Movements, Flexible Exchange Rates and the IS-LM Model. A Comparison Between the Portfolio-Balance and the Flow Hypotheses"Weltwirtschaftliches Archiv 119, 1983, pp. 36-63; (Download, 2.5 MB).

"Der Haavelmo Effekt im Wechselkursmechanismus. Zur Interpretation eines populären Ansatzes" (The Haavelmo Effect in the Exchange Rate Mechanism. An Interpretation of a Popular Approach), Jahrbuch für Sozialwissenschaft 32, 1981, pp. 1-16; (Download, 525 KB).

"Capital Income Taxation, Depreciation Allowances and Economic Growth: A Perfect-Foresight General Equilibrium Model", Zeitschrift für Nationalökonomie 41, 1981, pp. 295-305; (Download, 546 KB).

"The Theory of Exhaustible Resources"Zeitschrift für Nationalökonomie 41, 1981, pp. 183-192;(Download, 584 KB).

"Stock Dependent Extraction Costs and the Technological Efficiency of Resource Depletion"Zeitschrift für Wirtschafts- und Sozialwissenschaften 101, 1981, pp. 507-517 (Download, 279 KB).

"The Theory of Temporary Equilibrium and the Keynesian Model"Zeitschrift für Nationalökonomie 40, 1980, pp. 281-320; (Download, 1.9 MB).

* Journals are categorised according to the journal listing by the Handelsblatt Economist Ranking 2013.