Thomas Michael Steger

University of Leipzig/Institute for Theoretical Economics/Macroeconomics

Professor

Grimmaische Str. 12

D-04109 Leipzig

Germany

CESifo (Center for Economic Studies and Ifo Institute)

Poschinger Str. 5

Munich, DE-81679

Germany

SCHOLARLY PAPERS

38

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CITATIONS
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23

Scholarly Papers (38)

1.
Downloads 502 ( 54,390)
Citation 16

No Price Like Home: Global House Prices, 1870-2012

CESifo Working Paper Series No. 5006
Number of pages: 146 Posted: 22 Oct 2014
Katharina Knoll, Moritz Schularick and Thomas Michael Steger
Free University of Berlin (FUB) - Division of Economics, University of Bonn - Department of Economics and University of Leipzig/Institute for Theoretical Economics/Macroeconomics
Downloads 495 (54,733)

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house prices, land prices, transportation costs, neoclassical theory

No Price Like Home: Global House Prices, 1870-2012

CEPR Discussion Paper No. DP10166
Number of pages: 158 Posted: 30 Sep 2014
Katharina Knoll, Moritz Schularick and Thomas Michael Steger
Free University of Berlin (FUB) - Division of Economics, University of Bonn - Department of Economics and University of Leipzig/Institute for Theoretical Economics/Macroeconomics
Downloads 7 (619,444)
Citation 35
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house prices, land prices, neoclassical theory, transportation costs

2.

Does Financial Integration Spur Economic Growth? New Evidence from the First Era of Financial Globalization

WIF Institute of Economic Research Working Paper No. 06/46, CESifo Working Paper Series No. 1691
Number of pages: 26 Posted: 24 Feb 2006
Moritz Schularick and Thomas Michael Steger
University of Bonn - Department of Economics and University of Leipzig/Institute for Theoretical Economics/Macroeconomics
Downloads 466 (59,733)
Citation 6

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International financial integration, Economic growth, First era of globalization

3.

Growth, Development, and Technological Change

IZA Discussion Paper No. 2558, CESifo Working Paper Series No. 1913
Number of pages: 71 Posted: 24 Jan 2007
Volker Grossmann and Thomas Michael Steger
University of Fribourg - Faculty of Economics and Social Science and University of Leipzig/Institute for Theoretical Economics/Macroeconomics
Downloads 290 (103,304)
Citation 2

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endogenous technical change, economic growth, horizontal innovations, scale effects, vertical innovations

4.

The Lucas Paradox and the Quality of Institutions: Then and Now

Number of pages: 16 Posted: 11 Aug 2010
Moritz Schularick and Thomas Michael Steger
University of Bonn - Department of Economics and University of Leipzig/Institute for Theoretical Economics/Macroeconomics
Downloads 199 (150,615)
Citation 1

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capital market integration, financial globalization, economic history

5.

Rethinking the Concept of Long-Run Economic Growth

CESifo Working Paper Series No. 1701
Number of pages: 16 Posted: 27 Apr 2006
Christian Groth, Karl-Josef Koch and Thomas Michael Steger
Department of Economics, University of Siegen - School of Economic Disciplines and University of Leipzig/Institute for Theoretical Economics/Macroeconomics
Downloads 171 (172,842)

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exponential growth, arithmetic growth, regular growth, semi-endogenous growth, knife-edge restrictions

6.

Multi-Dimensional Transitional Dynamics: A Simple Numerical Procedure

CESifo Working Paper Series No. 1745
Number of pages: 30 Posted: 14 Jul 2006
Timo Trimborn, Karl-Josef Koch and Thomas Michael Steger
University of Hamburg - Faculty of Economics and Business Administration, University of Siegen - School of Economic Disciplines and University of Leipzig/Institute for Theoretical Economics/Macroeconomics
Downloads 120 (230,316)
Citation 47

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transitional dynamics, continuous time growth models, saddle-point problems, multi-dimensional stable manifolds

7.
Downloads 81 (272,711)
Citation 1

Quantifying Optimal Growth Policy

CESifo Working Paper Series No. 3092
Number of pages: 37 Posted: 20 Jun 2010
Volker Grossmann, Thomas Michael Steger and Timo Trimborn
University of Fribourg - Faculty of Economics and Social Science, University of Leipzig/Institute for Theoretical Economics/Macroeconomics and University of Hamburg - Faculty of Economics and Business Administration
Downloads 81 (302,068)

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economic growth, endogenous technical change, optimal growth policy, tax-transfer system, transitional dynamics

Anti-Competitive Conduct, In-House R&D, and Growth

CESifo Working Paper Series No. 1963
Number of pages: 41 Posted: 26 Apr 2007
Volker Grossmann and Thomas Michael Steger
University of Fribourg - Faculty of Economics and Social Science and University of Leipzig/Institute for Theoretical Economics/Macroeconomics
Downloads 64 (345,578)
Citation 1

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anti-competitive conduct, in-house R&D, economic growth, entry barriers, knowledge spillovers

Anti-Competitive Conduct, In-House R&D, and Growth

European Economic Review, Vol. 52, No. 6, 2008
Posted: 08 Aug 2010 Last Revised: 10 Aug 2010
Volker Grossmann and Thomas Michael Steger
University of Fribourg - Faculty of Economics and Social Science and University of Leipzig/Institute for Theoretical Economics/Macroeconomics

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anti-competitive conduct, in-house R&D, economic growth, entry barriers, knowledge spillovers

9.

Macroeconomic Consequences of Distributional Conflicts

CESifo Working Paper Series No. 2007
Number of pages: 31 Posted: 14 Jun 2007
Andreas Schaefer and Thomas Michael Steger
Center on Corporate Responsibility and University of Leipzig/Institute for Theoretical Economics/Macroeconomics
Downloads 59 (355,300)

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distributional conflict, time inconsistency, strategic interaction, heterogeneity

10.

History, Expectations, and Public Policy: Economic Development in Eastern Germany

CESifo Working Paper Series No. 3184
Number of pages: 40 Posted: 30 Sep 2010
Andreas Schaefer and Thomas Michael Steger
Center on Corporate Responsibility and University of Leipzig/Institute for Theoretical Economics/Macroeconomics
Downloads 54 (370,771)

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increasing returns to scale, capital mobility, migration, multiple equilibria, indeterminacy, history vs. expectations, economic policy

11.

Globalization, the Volatility of Intermediate Goods Prices, and Economic Growth

WIF Institute of Economic Research Working Paper No. 05/40
Number of pages: 26 Posted: 13 Mar 2006
Thomas Michael Steger and Lucas Bretschger
University of Leipzig/Institute for Theoretical Economics/Macroeconomics and ETH Zürich - CER-ETH - Center of Economic Research at ETH Zurich
Downloads 53 (373,795)
Citation 1

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Globalization, trade in intermediate goods, portfolio decisions, economic growth

12.

Das House-Kapital: A Theory of Wealth-to-Income Ratios

CESifo Working Paper Series No. 5844
Number of pages: 81 Posted: 04 May 2016
Volker Grossmann and Thomas Michael Steger
University of Fribourg - Faculty of Economics and Social Science and University of Leipzig/Institute for Theoretical Economics/Macroeconomics
Downloads 52 (377,061)
Citation 2

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wealth-to-income ratios, housing wealth, non-residential wealth, house prices, land prices

Does Public Education Expansion Lead to Trickle-Down Growth?

CESifo Working Paper Series No. 5027
Number of pages: 65 Posted: 04 Nov 2014
Sebastian Böhm, Volker Grossmann and Thomas Michael Steger
University of Leipzig, University of Fribourg - Faculty of Economics and Social Science and University of Leipzig/Institute for Theoretical Economics/Macroeconomics
Downloads 34 (454,186)

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directed technological change, publicly financed education, redistributive transfers, transitional dynamics, trickle-down growth

Does Public Education Expansion Lead to Trickle-Down Growth?

IZA Discussion Paper No. 8542
Number of pages: 65 Posted: 25 Oct 2014
Sebastian Böhm, Volker Grossmann and Thomas Michael Steger
University of Leipzig, University of Fribourg - Faculty of Economics and Social Science and University of Leipzig/Institute for Theoretical Economics/Macroeconomics
Downloads 13 (578,466)
Citation 1

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directed technological change, publicly financed education, redistributive transfers, transitional dynamics, trickle-down growth

Migration, Capital Formation, and House Prices

CESifo Working Paper Series No. 4146
Number of pages: 42 Posted: 14 Mar 2013
Volker Grossmann, Andreas Schaefer and Thomas Michael Steger
University of Fribourg - Faculty of Economics and Social Science, University of Leipzig and University of Leipzig/Institute for Theoretical Economics/Macroeconomics
Downloads 32 (463,602)

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capital formation, house prices, land distribution, migration, welfare

Migration, Capital Formation, and House Prices

IZA Discussion Paper No. 7225
Number of pages: 43 Posted: 23 Feb 2013
Volker Grossmann, Andreas Schäfer and Thomas Michael Steger
University of Fribourg - Faculty of Economics and Social Science, University of Leipzig/Institute for Theoretical Economics/Macroeconomics and University of Leipzig/Institute for Theoretical Economics/Macroeconomics
Downloads 9 (605,637)

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capital formation, house prices, land distribution, migration, welfare

15.

Dynamically Optimal R&D Subsidization

CESifo Working Paper Series No. 3153
Number of pages: 38 Posted: 17 Aug 2010
Volker Grossmann, Thomas Michael Steger and Timo Trimborn
University of Fribourg - Faculty of Economics and Social Science, University of Leipzig/Institute for Theoretical Economics/Macroeconomics and Leibniz Universität Hannover
Downloads 39 (423,166)
Citation 6

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R&D subsidy, transitional dynamics, semi-endogenous growth, welfare

16.

Dynamically Optimal R&D Subsidies

Number of pages: 33 Posted: 11 Aug 2010
Volker Grossmann, Timo Trimborn and Thomas Michael Steger
University of Fribourg - Faculty of Economics and Social Science, Leibniz Universität Hannover and University of Leipzig/Institute for Theoretical Economics/Macroeconomics
Downloads 31 (457,014)
Citation 1

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R&D subsidy, Transitional dynamics, Semi-endogenous growth, Welfare

Journey into the Unknown? Economic Consequences of Factor Market Integration Under Increasing Returns to Scale

CESifo Working Paper Series No. 3676
Number of pages: 50 Posted: 19 Dec 2011
Andreas Schäfer and Thomas Michael Steger
University of Leipzig/Institute for Theoretical Economics/Macroeconomics and University of Leipzig/Institute for Theoretical Economics/Macroeconomics
Downloads 28 (484,401)

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increasing returns to scale, capital mobility, migration, multiple equilibria, indeterminacy, history vs. expectations

Journey into the Unknown? Economic Consequences of Factor Market Integration Under Increasing Returns to Scale

Review of International Economics, Vol. 22, Issue 4, pp. 783-807, 2014
Number of pages: 25 Posted: 06 Aug 2014
Andreas Schäfer and Thomas Michael Steger
University of Leipzig/Institute for Theoretical Economics/Macroeconomics and University of Leipzig/Institute for Theoretical Economics/Macroeconomics
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Citation 5
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18.

The Macroeconomics of TANSTAAFL

CESifo Working Paper Series No. 3651
Number of pages: 23 Posted: 01 Dec 2011
Volker Grossmann, Thomas Michael Steger and Timo Trimborn
University of Fribourg - Faculty of Economics and Social Science, University of Leipzig/Institute for Theoretical Economics/Macroeconomics and Leibniz Universität Hannover
Downloads 28 (471,410)
Citation 1

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intertemporal free lunch, dynamic inefficiency, R&D-based growth, transitional dynamics

19.

Reversal of Migration Flows: A Fresh Look at the German Reunification

CER-ETH – Center of Economic Research at ETH Zurich Working Paper No. 16/259
Number of pages: 62 Posted: 15 Sep 2016
Volker Grossmann, Andreas Schaefer, Thomas Michael Steger and Benjamin Fuchs
University of Fribourg - Faculty of Economics and Social Science, University of Leipzig, University of Leipzig/Institute for Theoretical Economics/Macroeconomics and University of Hohenheim
Downloads 16 (538,472)
Citation 1

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Capital Formation, German Reunification, Housing Services, Labor Market Integration, Reverse Migration

20.

Welfare Implications of Non-Scale R&D-Based Growth Models

Scandinavian Journal of Economics, Vol. 107, No. 4, pp. 737-757, December 2005
Number of pages: 21 Posted: 03 Feb 2006
Thomas Michael Steger
University of Leipzig/Institute for Theoretical Economics/Macroeconomics
Downloads 9 (580,876)
Citation 8
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R&D-based growth, non-scale growth, welfare implications

21.

Distributional Effects of Surging Housing Costs Under Schwabe's Law

CESifo Working Paper No. 7684
Number of pages: 55 Posted: 25 Jun 2019
University of Fribourg - Faculty of Economics and Social Science, University of Leipzig - Institute for Theoretical Economics / Macroeconomics, University of Leipzig and University of Leipzig/Institute for Theoretical Economics/Macroeconomics
Downloads 6 (599,901)

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macroeconomics and housing, long-term growth, Schwabe’s Law, wealth inequality, welfare

22.

Looking Back, Looking Ahead: Biased Technological Change, Substitution and the Wage Gap - Comment

Journal of Macroeconomics, Vol. 30, No. 2, 2008
Posted: 13 May 2011
Thomas Michael Steger
University of Leipzig/Institute for Theoretical Economics/Macroeconomics

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23.

On the Mechanics of Economic Convergence

German Economic Review, Vol. 7, No. 3, pp. 317-337, 2006
Posted: 25 Aug 2010 Last Revised: 28 Aug 2010
Thomas Michael Steger
University of Leipzig/Institute for Theoretical Economics/Macroeconomics

Abstract:

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R&D-based growth, transitional dynamics, speed of convergence, decomposition, convergence mechanisms

24.

Economic Development in Eastern Germany: History, Expectations, and Public Policy

Posted: 12 Aug 2010
Andreas Schaefer and Thomas Michael Steger
Center on Corporate Responsibility and University of Leipzig/Institute for Theoretical Economics/Macroeconomics

Abstract:

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Increasing Returns to Scale, Capital Mobility, Migration, Multiple Equilibria, Indeterminacy, History vs. Expectations, Economic Policy

25.

A Simple Dynamic Model of the Environmental Kuznets Curve: Turning Point and Public Policy

Environmental and Resource Economics, Vol. 36, No. 1, 2007
Posted: 10 Aug 2010
Hannes Egli and Thomas Michael Steger
affiliation not provided to SSRN and University of Leipzig/Institute for Theoretical Economics/Macroeconomics

Abstract:

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Environmental Kuznets Curve, Pollution, Abatement, External Effects, Economic Growth, Public Policy

26.

The Dynamics of Economic Integration: Theory and Policy

International Economics and Economic Policy, Vol. 1, No. 2-3, 2004
Posted: 10 Aug 2010
Lucas Bretschger and Thomas Michael Steger
ETH Zürich - CER-ETH - Center of Economic Research at ETH Zurich and University of Leipzig/Institute for Theoretical Economics/Macroeconomics

Abstract:

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International trade, economic integration, economic growth, scale effects, factor reallocation

27.

Multi-Dimensional Transitional Dynamics: A Simple Numerical Procedure

Macroeconomic Dynamics, Vol. 12, No. 3, 2008
Posted: 10 Aug 2010
Karl-Josef Koch, Timo Trimborn and Thomas Michael Steger
University of Siegen - School of Economic Disciplines, Leibniz Universität Hannover and University of Leipzig/Institute for Theoretical Economics/Macroeconomics

Abstract:

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Transitional Dynamics, Continuous Time Growth Models, Saddle-point Problems, Multidimensional Stable Manifolds

28.

Flexibility, Sectoral Hysteresis, and Downturns

Macroeconomic Dynamics, Vol. 11, No. 1, 2007
Posted: 10 Aug 2010
Thomas Michael Steger
University of Leipzig/Institute for Theoretical Economics/Macroeconomics

Abstract:

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Flexibility, Economic Growth, Factor Reallocation Costs, Hysteresis, Downturns

29.

Heterogeneous Consumption Goods, Sectoral Change and Economic Growth

Studies in Nonlinear Dynamics and Econometrics, Vol. 10, No. 1, 2006
Posted: 10 Aug 2010
Thomas Michael Steger
University of Leipzig/Institute for Theoretical Economics/Macroeconomics

Abstract:

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Heterogeneous consumption goods, intertemporal elasticity of substitution, saving function, economic growth

30.

Non-Scale Models of R&D-Based Growth: The Market Solution

Topics in Macroeconomics, Vol. 5, No. 1, Article 3, 2005
Posted: 10 Aug 2010
Thomas Michael Steger
University of Leipzig/Institute for Theoretical Economics/Macroeconomics

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R&D-based growth models, non-scale growth, market solution, dynamic systems

31.

Stochastic Growth Under Wiener and Poisson Uncertainty

Economics Letters, Vol. 86, No. 3, 2005
Posted: 10 Aug 2010
Thomas Michael Steger
University of Leipzig/Institute for Theoretical Economics/Macroeconomics

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Stochastic growth, Wiener uncertainty, Poisson uncertainty, Risk premium, Keynes–Ramsey rule

32.

The Segerstrom Model: Stability, Speed of Convergence and Policy Implications

Economics Bulletin, Vol. 15, No. 4, pp. 1-8, 2003
Posted: 10 Aug 2010
Thomas Michael Steger
University of Leipzig/Institute for Theoretical Economics/Macroeconomics

Abstract:

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33.

When Economic Growth is Less than Exponential

Economic Theory, Vol. 44, No. 2, 2010
Posted: 08 Aug 2010
Christian Groth, Karl-Josef Koch and Thomas Michael Steger
Department of Economics, University of Siegen - School of Economic Disciplines and University of Leipzig/Institute for Theoretical Economics/Macroeconomics

Abstract:

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Quasi-arithmetic growth, Regular growth, Semi-endogenous growth, Knife-edge restrictions, Learning by doing, Embodied technical change

34.

Financial Integration, Investment, and Economic Growth: Evidence from Two Eras of Financial Globalization

Review of Economics and Statistics, Forthcoming
Posted: 08 Aug 2010
Moritz Schularick and Thomas Michael Steger
University of Bonn - Department of Economics and University of Leipzig/Institute for Theoretical Economics/Macroeconomics

Abstract:

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capital market integration, economic growth, financial globalization, economic history

35.

Productive Consumption, the Intertemporal Consumption Trade-Off and Growth

Journal of Economic Dynamics and Control, Vol. 26, No. 6, pp. 1053-1068, 2002
Posted: 07 Mar 2001
Thomas Michael Steger
University of Leipzig/Institute for Theoretical Economics/Macroeconomics

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Productive Consumption, Intertemporal Consumption Trade-off, Human Capital, Efficiency of Labour

36.

Transitional Dynamics with Endogenous Control Variables

Swiss Journal of Economics and Statistics, Vol. 136, 2000
Posted: 17 Aug 2000
Thomas Michael Steger
University of Leipzig/Institute for Theoretical Economics/Macroeconomics

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Transitional Dynamics, Endogenous Control Variables, Df-Convergence and Df-Divergence

37.

Economic Growth with Subsistence Consumption

Journal of Development Economics, Vol. 62, No. 2, pp. 343-361
Posted: 16 Aug 2000
Thomas Michael Steger
University of Leipzig/Institute for Theoretical Economics/Macroeconomics

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Divergence, Growth in Dcs, Rate of Convergence, Subsistence Consumption

38.

Productive Consumption and Growth in Developing Countries

Review of Development Economics, Vol. 4, Issue 3, October 2000
Posted: 18 Oct 1998
Thomas Michael Steger
University of Leipzig/Institute for Theoretical Economics/Macroeconomics

Abstract:

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