To reintroduce historical time, we combine the concept of path dependency with the concept of time strata; instead of explaining a fact isolated from its historical conditionality, the perspective moves from a contemporary phenomenon to several paths incorporated in it and questions their time-differentiated interlocking, mutual influence and conditioning. At the same time, the direction of the perspective changes: the path is analysed from today to yesterday. We use this approach to explain the particular current economic situation in Germany: namely, the strength in manufacturing and in global exports.
Martin Beznoska / Björn Kauder / Thomas Obst IW-Policy Paper No. 2 3. February 2021
Investment, Human Capital and Growth Effects of Public Spending
Unlike public sector consumption, public investment is often regarded as contributing to growth. Yet while spending on "intangible" goods such as education does not count as investment, even though it is potentially growth-enhancing, expenditure with little to ...
Michael Grömling in Intereconomics External Publication 21. January 2021
COVID-19 and the Growth Potential
The lasting economic impact of the coronavirus pandemic will become apparent in the development of the macroeconomic factors of production – labour, capital, human capital as well as the stock of technical knowledge.
Michael Grömling in Intereconomics IW
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