@phdthesis{Behringer2020,
  author    = {Behringer, Jan},
  title     = {Essays on income distribution and macroeconomic imbalances},
  doi       = {10.25972/OPUS-21725},
  url       = {http://nbn-resolving.de/urn:nbn:de:bvb:20-opus-217252},
  school      = {Universit{\"a}t W{\"u}rzburg},
  year      = {2020},
  abstract  = {The contribution of this dissertation is to empirically analyze the link between income distribution, sectoral financial balances, and the current account. Firstly, it examines the relationship between the personal and the functional income distribution which may have rather different implications for aggregate demand and the current account. Secondly, it analyzes the importance of different sectors of the economy for current account balances and tests whether households are able to fully pierce the institutional veils of the corporate and the government sector. Thirdly, it investigates how changes in the personal and the functional income distribution affect the saving and investment decisions of the household and the corporate sector, and hence the current account. Finally, it shows how different growth regimes are linked to different patterns of personal and functional income distribution, and how differences in wage bargaining institutions contribute to explaining these different patterns of income distribution.},
  subject      = {Einkommensverteilung},
  language  = {en}
}
@phdthesis{Scheuermeyer2018,
  author    = {Scheuermeyer, Philipp},
  title     = {Macroeconomic Consequences of Income Inequality: Evidence from Panel Data Econometrics},
  url       = {http://nbn-resolving.de/urn:nbn:de:bvb:20-opus-161452},
  school      = {Universit{\"a}t W{\"u}rzburg},
  year      = {2018},
  abstract  = {Within three self-contained chapters, this dissertation provides new insights into the macroeconomic consequences of income inequality from a global perspective. Following an introduction, which summarizes the main findings and offers a brief overview of trends in income distribution, Chapter 2 evaluates the relationship between the labor share of income and the evolution of aggregate demand. Chapter 3 analyzes the link between income inequality and aggregate saving; and Chapter 4 directly estimates the effect of inequality and public redistribution on economic growth.},
  subject      = {Panelanalyse},
  language  = {en}
}
@phdthesis{Gruendler2018,
  author    = {Gr{\"u}ndler, Klaus},
  title     = {A Contribution to the Empirics of Economic Development - The Role of Technology, Inequality, and the State},
  edition   = {1. Auflage},
  publisher = {W{\"u}rzburg University Press},
  address   = {W{\"u}rzburg},
  isbn      = {978-3-95826-072-6 (Print)},
  doi       = {10.25972/WUP-978-3-95826-073-3},
  url       = {http://nbn-resolving.de/urn:nbn:de:bvb:20-opus-141520},
  school      = {W{\"u}rzburg University Press},
  pages     = {300},
  year      = {2018},
  abstract  = {This dissertation contributes to the empirical analysis of economic development. The continuing poverty in many Sub-Saharan-African countries as well as the declining trend in growth in the advanced economies that was initiated around the turn of the millennium raises a number of new questions which have received little attention in recent empirical studies. Is culture a decisive factor for economic development? Do larger financial markets trigger positive stimuli with regard to incomes, or is the recent increase in their size in advanced economies detrimental to economic growth? What causes secular stagnation, i.e. the reduction in growth rates of the advanced economies observable over the past 20 years? What is the role of inequality in the growth process, and how do governmental attempts to equalize the income distribution affect economic development? And finally: Is the process of democratization accompanied by an increase in living standards? These are the central questions of this doctoral thesis. To facilitate the empirical analysis of the determinants of economic growth, this dissertation introduces a new method to compute classifications in the field of social sciences. The approach is based on mathematical algorithms of machine learning and pattern recognition. Whereas the construction of indices typically relies on arbitrary assumptions regarding the aggregation strategy of the underlying attributes, utilization of Support Vector Machines transfers the question of how to aggregate the individual components into a non-linear optimization problem. Following a brief overview of the theoretical models of economic growth provided in the first chapter, the second chapter illustrates the importance of culture in explaining the differences in incomes across the globe. In particular, if inhabitants have a lower average degree of risk-aversion, the implementation of new technology proceeds much faster compared with countries with a lower tendency towards risk. However, this effect depends on the legal and political framework of the countries, their average level of education, and their stage of development. The initial wealth of individuals is often not sufficient to cover the cost of investments in both education and new technologies. By providing loans, a developed financial sector may help to overcome this shortage. However, the investigations in the third chapter show that this mechanism is dependent on the development levels of the economies. In poor countries, growth of the financial sector leads to better education and higher investment levels. This effect diminishes along the development process, as intermediary activity is increasingly replaced by speculative transactions. Particularly in times of low technological innovation, an increasing financial sector has a negative impact on economic development. In fact, the world economy is currently in a phase of this kind. Since the turn of the millennium, growth rates in the advanced economies have experienced a multi-national decline, leading to an intense debate about "secular stagnation" initiated at the beginning of 2015. The fourth chapter deals with this phenomenon and shows that the growth potentials of new technologies have been gradually declining since the beginning of the 2000s. If incomes are unequally distributed, some individuals can invest less in education and technological innovations, which is why the fifth chapter identifies an overall negative effect of inequality on growth. This influence, however, depends on the development level of countries. While the negative effect is strongly pronounced in poor economies with a low degree of equality of opportunity, this influence disappears during the development process. Accordingly, redistributive polices of governments exert a growth-promoting effect in developing countries, while in advanced economies, the fostering of equal opportunities is much more decisive. The sixth chapter analyzes the growth effect of the political environment and shows that the ambiguity of earlier studies is mainly due to unsophisticated measurement of the degree of democratization. To solve this problem, the chapter introduces a new method based on mathematical algorithms of machine learning and pattern recognition. While the approach can be used for various classification problems in the field of social sciences, in this dissertation it is applied for the problem of democracy measurement. Based on different country examples, the chapter shows that the resulting SVMDI is superior to other indices in modeling the level of democracy. The subsequent empirical analysis emphasizes a significantly positive growth effect of democracy measured via SVMDI.},
  subject      = {Wirtschaftsentwicklung},
  language  = {en}
}
@phdthesis{Maas2018,
  author    = {Maas, Daniel Peter},
  title     = {Currency Areas, Monetary Policy, and the Macroeconomy},
  url       = {http://nbn-resolving.de/urn:nbn:de:bvb:20-opus-168037},
  school      = {Universit{\"a}t W{\"u}rzburg},
  year      = {2018},
  abstract  = {Hauptgegenstand der Dissertation ist die Analyse der makro{\"o}konomischen Auswirkungen der Gr{\"u}ndung der Eurozone auf die Mitgliedsstaaten. Diese Analyse umfasst zwei Studien, die sich der Fragestellung aus verschiedenen Perspektiven n{\"a}hern. Die erste Studie unternimmt einen Vergleich der Geldpolitik von EZB und von ausgew{\"a}hlten Zentralbanken des Europ{\"a}ischen W{\"a}hrungssystems (EWS). Es wird untersucht, inwiefern sich bei makro{\"o}konomischen Nachfrage- und Angebotsschocks die systematischen Reaktionen der EZB von denen der vier wichtigsten nationalen Zentralbanken des EWS (Deutschland, Frankreich, Italien und Spanien) unterscheiden. In der zweiten Studie werden die Ursachen f{\"u}r den Aufbau interner und externer Ungleichgewichte in Spanien, d.h. auf dem Immobilienmarkt und in der Leistungsbilanz, im Vorfeld der Finanzkrise 2007/08 analysiert. Dabei wird zwischen Spanien-spezifischen und Eurozonen-spezifischen Ursachen unterschieden und deren Erkl{\"a}rungsgehalt empirisch quantifiziert. In der dritten und letzten Studie der Dissertation wird ein preistheoretisches Kreditangebotsmodell entwickelt und empirisch gesch{\"a}tzt. Als Basis f{\"u}r die empirische Sch{\"a}tzung werden Daten des Kreditmarktes f{\"u}r deutsche Unternehmen verwendet. Die methodische Vorgehensweise beinhaltet in allen Studien zeitreihen{\"o}konometrische Ans{\"a}tze wie beispielsweise (Mehrl{\"a}nder-)Vektorautoregressionen (VARs) und Zeitreihenregressionen.},
  subject      = {Geldpolitik},
  language  = {en}
}
@phdthesis{Oeffner2008,
  author    = {Oeffner, Marc},
  title     = {AGENT-BASED KEYNESIAN MACROECONOMICS - An Evolutionary Model Embedded in an Agent-Based Computer Simulation},
  url       = {http://nbn-resolving.de/urn:nbn:de:bvb:20-opus-39277},
  school      = {Universit{\"a}t W{\"u}rzburg},
  year      = {2008},
  abstract  = {Subject of the present study is the agent-based computer simulation of Agent Island. Agent Island is a macroeconomic model, which belongs to the field of monetary theory. Agent-based modeling is an innovative tool that made much progress in other scientific fields like medicine or logistics. In economics this tool is quite new, and in monetary theory to this date virtual no agent-based simulation model has been developed. It is therefore the topic of this study to close this gap to some extend. Hence, the model integrates in a straightforward way next to the common private sectors (i.e. households, consumer goods firms and capital goods firms) and as an innovation a banking system, a central bank and a monetary circuit. Thereby, the central bank controls the business cycle via an interest rate policy; the according mechanism builds on the seminal idea of Knut Wicksell (natural rate of interest vs. money rate of interest). In addition, the model contains also many Keynesian features and a flow-of-funds accounting system in the tradition of Wolfgang St{\"u}tzel. Importantly, one objective of the study is the validation of Agent Island, which means that the individual agents (i.e. their rules, variables and parameters) are adjusted in such a way that on the aggregate level certain phenomena emerge. The crucial aspect of the modeling and the validation is therefore the relation between the micro and macro level: Every phenomenon on the aggregate level (e.g. some stylized facts of the business cycle, the monetary transmission mechanism, the Phillips curve relationship, the Keynesian paradox of thrift or the course of the business cycle) emerges out of individual actions and interactions of the many thousand agents on Agent Island. In contrast to models comprising a representative agent, we do not apply a modeling on the aggregate level; and in contrast to orthodox GE models, true interaction between heterogeneous agents takes place (e.g. by face-to-face-trading).},
  subject      = {Mehragentensystem},
  language  = {en}
}