Tallinn University of Technology

About: Tallinn University of Technology is a education organization based out in Tallinn, Estonia. It is known for research contribution in the topics: European union & Oil shale. The organization has 3688 authors who have published 10313 publications receiving 145058 citations. The organization is also known as: Tallinn Technical University & Tallinna Tehnikaülikool.

Fiscal Policies and Business Cycles in an Enlarged Euro Area

Abstract: This paper compares the cyclical properties of fiscal policies across the 12 original eurozone countries and the future members from Central and Eastern Europe. For the sample period 1995-2005, the fiscal balance exhibits less inertia and is more counter-cyclical in Central and Eastern European countries than in members of the eurozone. The main differences arise from the revenue side. Differences in the formation of fiscal policy between current and future eurozone countries decrease over time. Autonomous fiscal policy has little or no effect on cyclical variability in either of the two groups of countries. Counter-cyclical fiscal policy appears to be effective in Central and Eastern European countries, but largely ineffective in eurozone countries.

Creative Destruction in Economics: Nietzsche, Sombart, Schumpeter

Abstract: This paper argues that the idea of ‘creative destruction’ enters the social sciences by way of Friedrich Nietzsche. The term itself is first used by German economist Werner Sombart, who openly acknowledges the influence of Nietzsche on his own economic theory. The roots of creative destruction are traced back to Indian philosophy, from where the idea entered the German literary and philosophical tradition. Understanding the origins and evolution of this key concept in evolutionary economics helps clarifying the contrasts between today’s standard mainstream economics and the Schumpeterian and evolutionary alternative.