Articles in refereed journals

Top Field Journals*

A-Journals

Buffering Volatility: A Study on the Limits of Germany's Energy Revolution,
CESifo Working Papers, No. 5950, June 2016 and NBER Working Paper, No. 22467,
July 2016, will be published in European Economic Review, 2017.

"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

"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 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.