Opportunities and Risks for Regional Development in Former East German Brown Coal Mining Areas: The Case of the “Geiseltal” Mining Area in Saxony-Anhalt
Peter Franz
Wirtschaft im Wandel,
No. 11,
2003
Abstract
The rehabilitation of former brown coal open mining locations represents an important section of the economic and ecological restructuring process in East Germany, taking place since 1990. The recent progress in rehabilitation has led to large amounts of newly disposable space and thus expands the opportunities for regional development, especially with respect to tourism. But the possible positive effects are at risk because of diverse obstacles. In the case of the former open mining location of the “Geiseltal” in the south of Saxony-Anhalt such obstacles show up in form of a strong identification of the residents with the tradition of mining industry, in form of the expansive interests of nature protection organizations, and in form of inadequate organisational structures of the local public administration. In the case of a tourism-oriented development strategy risks arise concerning the actual duration of the remaining recultivation process and concerning the competition with locations with similar development targets.
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Does Transparency of Central Banks Produce Multiple Equilibria on Currency Markets?
Axel Lindner
IWH Discussion Papers,
No. 178,
2003
Abstract
A recent strand of literature (see Morris and Shin 2001) shows that multiple equilibria in models of markets for pegged currencies vanish if there is slightly diverse information between traders. It is known that this approach works only if there is not too precise common knowledge in the market. This has led to the conclusion that central banks should try to avoid making their information common knowledge. We present a model in which more transparency of the central bank means better private information, because each trader utilizes public information according to her own private information. Thus, transparency makes multiple equilibria less likely.
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Standortbedingungen der Biotechnologiebranche - Eine Analyse zur Identifikation von Erfolgsfaktoren für Biotechnologiefirmen und Bioregionen
Walter Komar
IWH Discussion Papers,
No. 176,
2003
Abstract
The paper analyzes the factors, which are important for the success of biotechnology companies and bio regions. For these purposes the local conditions of an advanced bio region are compared with a not so advanced bio region in a bench mark approach. The significant factors for the success of biotechnology companies and bio regions are identified by the logistic regression analysis. The result is that a bundle of factors for the development of biotechnology companies and bio regions is important. Therein the supply of human capital, networks and public research in the region play an outstanding role.
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Markets for Bank Subordinated Debt and Equity in Basel Committee Member Countries
Reint E. Gropp, Jukka M. Vesala
BCBS Working Papers, No. 12,
No. 12,
2003
Abstract
This Basel Committee working paper is a study of the markets for banks' securities in ten countries (Belgium, France, Germany, Japan, the Netherlands, Spain, Sweden, Switzerland, the United Kingdom, and the United States). It aims at contributing to the assessment of the potential effectiveness of direct and indirect market discipline. This is achieved through collecting a rich set of data on the detailed characteristics of the instruments used by banks to tap capital markets, the frequency and size of their issuance activity, and the share of issuing banks in national banking systems. Further, information is collected on the amounts of debt and equity outstanding and about trading volumes and liquidity. Developments over the period from 1990-2001 are evaluated.
The paper focuses on subordinated bonds among banks' debt instruments, because they are the prime class of uninsured instruments suited to generate market discipline and have been proposed by some observers as a mandatory requirement for banks.
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Auctioning Public Financial Support Incentives
Ulrich Blum, F. Kalus
International Journal of Technology Management Vol. 26,
2003
Abstract
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Unemployment benefit II - Comments on the merging of unemployment benefits and public assistance
Herbert Buscher
Wirtschaft im Wandel,
No. 6,
2003
Abstract
The paper discusses the consequences of the planned reform of the unemployment security system, namely the new unemployment benefits II which consists of the former “Arbeitslosenhilfe“ and of transfers from the social welfare system. The paper calculates the expected reductions in public spending and relates a part of this amout to a possible reduction in labour unit costs and its consequences for employment.
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Business cycle news: Upswing in Germany delayed
Wirtschaft im Wandel,
No. 12,
2002
Abstract
In the wake of the most recent national accounts estimates, the IWH has reassessed its business cycle forecast. Additionally, the economic effects of the flood were analysed. While the latter should have neither a positive nor a negative impact on Germany’ business cycle as a whole, East Germany’s already weak economic expansion is seriously affected. At most GDP will stagnate. In contrast, next year the public and private restoration efforts will stimulate the Eastern German economy.
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Economic Development 2002 and 2003: Investments – The Achilles Heel of the Economy
Wirtschaft im Wandel,
No. 10,
2002
Abstract
The Article analyses and forecasts the economic developments for the World and German in 2002 and 2003. During the winter 2001/2002 the World Economy was able to pull out of its trough. Nonetheless, the upswing did not reach investments and was mainly driven by consumption and exports in the USA and the remaining major economies, respectively. In the course of this and next year Investors will gradually regain their trust in the economy. The same will be the case for consumers in Germany and Europe. As a result a modest recovery on a wide front will develop. In the course of next year this recovery will start to weaken. In Germany, Wage Policy has retracted from its former moderate stance. Hence, although due to the improving economic conditions and the resulting slowed employment cuts by the end of 2002 as well as employment increases in 2003, the upswing on the labour market will not reach the dynamics of the 1999/2000 recovery. Fiscal Policy, caused by the need to consolidate the public budget, will be restrictive. Despite the low inflation risks, by the end of this year the ECB will have raised its major interest rate by 1/2 percentage point. Nonetheless, as interest rates in real terms will remain at relatively low levels a restrictive impact from the Monetary Policy in Germany and the Euro Area will is not expected. The most important Data for the World Economy and Germany are being stated in detailed tables.
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Current Trends - Further erosion of public investment
Rüdiger Pohl
Wirtschaft im Wandel,
No. 6,
2002
Abstract
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Fiscal costs of employment creating schemes - a case study
Birgit Schultz
Wirtschaft im Wandel,
No. 1,
2002
Abstract
The evaluation on job creation programs shows a longer unemployment duration of treatment than the non-treatment. In a case study we calculate the additional public cost of the treatment and the subsequent demand of treatment compared with the outcome in a non-treated situation. Additionally we are looking on the break even.
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