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Auseinandersetzungen um die "richtige" Planung wie bei Stuttgart 21, beim Ausbau der Flughäfen etwa in Berlin, Frankfurt oder München, bei der Elbvertiefung oder beim Aus- und Umbau der Energienetze zeigen: Der Ausbau der Infrastrukturen und die zunehmende Belastung der Bevölkerung sowie der Umwelt stehen sich scheinbar unvereinbar gegenüber. Das Fachplanungsrecht muss diesen Konflikt moderieren. Seine Dynamik in Gesetzgebung und höchstrichterlicher Rechtsprechung - auf nationaler wie europäischer Ebene - ist entsprechend groß.

News-based indicators are in vogue in economics. But they tend to be applied with little consideration for the properties of news itself. In this paper, we try to shed light on the nature of this type of data. Drawing from established findings in communication science and journalism studies we argue that news-based indicators should be taken with a pinch of salt, since news is a somewhat biased representation of political and social reality. Contrary to economics and other social sciences, journalism tends to be driven by outliers, the outrageous, and the outraged. This structural dissonance between journalism and other disciplines needs to be born in mind when dealing with news content as data, and it is of particular concern in the context of economic developments. While economics and statistics are inherently backward looking, trying to make sense of the (immediate) past using models and probability distributions derived from bygone observations, journalism is about the present, and sometimes about the future. What's going on right now? And where does it lead us? Seeking answers to these questions makes news a valuable data input, as a measure of what drives society at a given point in time. We show how taking the properties of news into consideration influences the entire process of large-scale news analysis. As an example, we update our Uncertainty Perception Indicator (Müller and Hornig 2020), setting it on a firmer footing by enlarging the newspaper corpus considerably. The new version of the UPI for Germany yields some remarkable results. At the trough of the Covid-19-induced economic crisis in Q2 of 2020, the overall indicator already decreased considerably, although it stayed at elevated levels. Deconstructing the UPI by applying the topic modelling approach Latent Dirichlet Allocation (LDA), shows that the coverage of the pandemic has merged with the issue of climate change and its mitigation. In the past decade or so incalculable politics was the main driver of economic uncertainty perception. Now truly exogenous developments, neither elicited by the economy nor by politics, come to the fore, adding to the sense of an inherently unstable world.

News-based indicators are in vogue in economics. But they tend to be applied with little consideration for the properties of news itself. In this paper, we try to shed light on the nature of this type of data. Drawing from established findings in communication science and journalism studies we argue that news-based indicators should be taken with a pinch of salt, since news is a somewhat biased representation of political and social reality. Contrary to economics and other social sciences, journalism tends to be driven by outliers, the outrageous, and the outraged. This structural dissonance between journalism and other disciplines needs to be born in mind when dealing with news content as data, and it is of particular concern in the context of economic developments. While economics and statistics are inherently backward looking, trying to make sense of the (immediate) past using models and probability distributions derived from bygone observations, journalism is about the present, and sometimes about the future. What's going on right now? And where does it lead us? Seeking answers to these questions makes news a valuable data input, as a measure of what drives society at a given point in time. We show how taking the properties of news into consideration influences the entire process of large-scale news analysis. As an example, we update our Uncertainty Perception Indicator (Müller and Hornig 2020), setting it on a firmer footing by enlarging the newspaper corpus considerably. The new version of the UPI for Germany yields some remarkable results. At the trough of the Covid-19-induced economic crisis in Q2 of 2020, the overall indicator already decreased considerably, although it stayed at elevated levels. Deconstructing the UPI by applying the topic modelling approach Latent Dirichlet Allocation (LDA), shows that the coverage of the pandemic has merged with the issue of climate change and its mitigation. In the past decade or so incalculable politics was the main driver of economic uncertainty perception. Now truly exogenous developments, neither elicited by the economy nor by politics, come to the fore, adding to the sense of an inherently unstable world.

Die Europäische Union schreitet auf ihrem Weg zur Europäischen Währungsunion weiter planmäßig voran. Zum 1.1.1999 werden elf EU-Länder den Euro als Buchgeld einführen und ihre Währungspolitik auf das Europäische System der Zentralbanken übertragen. Zum 1.1.2002 wird der Euro, auch Bargeld, und spätestens am 30. 6. 2002 werden die Teilnehmerländer ihre nationalen Währungen aufgeben. Welche Rolle wird der Euro im Weltwährungssystem spielen? Welche Konsequenzen ergeben sich daraus?

Europa muss sich entscheiden, ob es die gewachsene Zusammenarbeit vertiefen oder aber reduzieren will. Unter Ökonomen dominiert Skepsis. Viele würden das Euro-Rad am liebsten zurückdrehen. Was dagegen fehlt, ist eine plausible Vision, wie es vorangehen könnte. Kernelemente sollten finanzielle Ausgleichszahlungen zwischen den Ländern der EU sowie die demokratische Legitimierung durch ein 'echtes' Europäisches Parlament sein, das mit Budgetrechten - insbesondere der Kompetenz zur Besteuerung von Kapital - ausgestattet wird. ; The European Union is approaching a point where it has to decide between two options: deepening political integration or reducing it. Economists tend to be sceptical. Many would prefer to reduce the scale of integration while returning more competences to member states. The debate, though, lacks a plausible vision for the path forward. Every stable currency union needs some kind of transfer mechanism. Once this notion is accepted, the installation of a 'real' European Parliament with the power to raise taxes, particularly on capital income, should be considered.

Transnational Corporations and Local Firms in Developing Countries - Linkages and Upgrading -- Table of Contents -- Preface -- Part I Introduction and Conceptual Issues -- CHAPTER 1 Introduction and Analytical Framework -- Introduction -- A Conceptual and Analytical Framework -- The Structure and Content of Linkages -- The Effects of Linkages -- The Factors Shaping Linkages -- Methodology of the Study and Structure of the Book -- CHAPTER 2 Theories of Cross-Border Linkages -- Introduction -- A Development Perspective on Linkages -- Linkages in the Development Literature -- Neoclassical Trade Economics -- The FDI Literature -- The Competitiveness Literature -- The Global Value Chain Perspective -- An International Business (IB) Perspective on Linkages -- A Perfect Competition Model -- The Transaction Cost Perspective -- The Resource-Based Perspective -- The Value Chain Perspective -- The Network Perspective -- Conclusion -- Part II Case Studies of Danish Firm Linkages -- CHAPTER 3 A Survey of Linkages between Danish Foreign Investors and Local Firms in Developing Countries -- Introduction -- A Profile of Danish Investments in the Five Countries -- Size and International Orientation of the Danish Investor -- Industry Orientation and Activity of Projects -- Motives behind Establishment -- The Nature of Linkages to Local Industry -- Non-Equity Linkages -- Comparing Equity and Non-Equity Linkages -- Means of Upgrading -- Upgrading of Non-Equity Partners -- Upgrading effects -- The Role of Governments in Linkage Formation -- Government Facilitation of Linkages -- Government Impediments to Linkage Formation -- Conclusion -- CHAPTER 4 Donor Intervention and the Promotion of Inter-Firm Linkages in Ghana -- Introduction -- An Overview of the Analytical Framework -- The History of Private Enterprise Development in Ghana -- Methodology -- Results.

In this paper we update our Uncertainty Perception Indicator (UPI) with data from the first quarter of 2021. UPI values have declined in recent quarters. At first glance this might come as a surprise, with the third Corona wave having less of an impact than the first one, even though the former was several magnitudes bigger than the latter in Germany. This result underscores the difference between perception and actual impact: a shock hits the hardest when it first occurs because by then its nature is still unknown. As shown in previous versions of the UPI, uncertainty has mainly been fed by the political sphere since the 2010s. Towards the end of our observation period, however, uncertainty from the international and European political spheres is declining, while German domestic politics is on the rise. The end of Angela Merkel's chancellorship marks the end of a long period of relative political stability. Without her in the race the outcome of German federal elections in September is hardly predictable. Whatever coalition may succeed, it is likely that any future government will engineer a shift in (economic) policy. The potential strength of this "election uncertainty effect" is evident in our data. An update of our Fear Gauge shows profound shift in public discourse in Germany. With the pandemic in retreat for now, climate change and the question to what extent policies should follow science (whether on pandemics or global warming) are taking center stage in Germany. Looking ahead, we expect UPI values to rise again as the federal elections loom and the economic and political consequences of the pandemic (e. g. higher debt levels) become apparent. Uncertainty shocks tend to come in waves. Given the severity of the Corona pandemic, a host of difficulties – ranging from unexpected inflation to debt crises to geostrategic tensions – are possibly in the making.

In this paper we update our Uncertainty Perception Indicator (UPI) with data from the first quarter of 2021. UPI values have declined in recent quarters. At first glance this might come as a surprise, with the third Corona wave having less of an impact than the first one, even though the former was several magnitudes bigger than the latter in Germany. This result underscores the difference between perception and actual impact: a shock hits the hardest when it first occurs because by then its nature is still unknown. As shown in previous versions of the UPI, uncertainty has mainly been fed by the political sphere since the 2010s. Towards the end of our observation period, however, uncertainty from the international and European political spheres is declining, while German domestic politics is on the rise. The end of Angela Merkel's chancellorship marks the end of a long period of relative political stability. Without her in the race the outcome of German federal elections in September is hardly predictable. Whatever coalition may succeed, it is likely that any future government will engineer a shift in (economic) policy. The potential strength of this "election uncertainty effect" is evident in our data. An update of our Fear Gauge shows profound shift in public discourse in Germany. With the pandemic in retreat for now, climate change and the question to what extent policies should follow science (whether on pandemics or global warming) are taking center stage in Germany. Looking ahead, we expect UPI values to rise again as the federal elections loom and the economic and political consequences of the pandemic (e. g. higher debt levels) become apparent. Uncertainty shocks tend to come in waves. Given the severity of the Corona pandemic, a host of difficulties - ranging from unexpected inflation to debt crises to geostrategic tensions - are possibly in the making.