Arnold

Lutz G. Arnold

Prizes, Awards:

• Diplom-Preis (best diploma in Economics) University of Dortmund 1994
• Dissertationspreis (best Ph.D. thesis in Economics) University of Dortmund 1997
• European Economic Association Young Economist Award 2000
• Preis für gute Lehre an Bayerns Universitäten 2003 (Teaching Award state of Bavaria)
• 6th place in "WirtschaftsWoche" ranking "Deutschlands beste Nachwuchsökonomen" ("Germany's best young economists") 2005
• 9th place in "Handelsblatt" ranking "Top-100 Forscher unter 40 Jahren" September 2010
• "Prof des Semesters" in der WiWi-Fakultät Regensburg Sommersemester 2006, 2008, 2012, 2018

Academic Activities:

• Advising professor (Vertrauensdozent), German National Academic Foundation (Studienstiftung des deutschen Volkes) since January 2004
• Member of "Honors" committee, faculty's "Honors" Degree Program (sponsored by Elite Network of Bavaria, ENB) since September 2004
• Chairman of the search committee Bavarian Graduate Program in Economics (BGPE) (sponsored by Elite Network of Bavaria, ENB) , 2005-2012
• Advising professor (Vertrauensdozent), Bayerische Eliteakademie (BEA), 2006-2014
• Editor, Perspektiven der Wirtschaftspolitik since October 2006

Research grants:

• DFG grant AR 530/2-1: "Der Finanzsektor im Wettbewerb um 'die besten Köpfe': Wohlfahrts-, Wachstums- und Beschäftigungseffekte" (Priority Program 1578), 2015-18.
• DFG grant AR 530/1-1: "Ökonomische Analyse der Refinanzierung von Mikrokreditvergabe" (with Gregor Dorfleitner), 2010-13.

Books:

• Makroökonomik. Eine Einführung in die Theorie der Güter-, Arbeits- und Finanzmärkte, 6. Auflage
  (Neue ökonomische Grundrisse, edited by Jürgen Eichberger and Werner Neus) (488 pp.),  Tübingen: Mohr Siebeck (2020).
• Business Cycle Theory (165 pp.),
  Oxford: Oxford University Press (2002).
  Book review by Roger E. A. Farmer (Journal of Economics) - "a relatively compact intellectual history of the subject of business cycle theory" written "in a readable and illuminating way".
• Wachstumstheorie (294 pp.),
  München: Verlag Franz Vahlen (1997).
   

Journal Articles:

• "Listening to the noise: On price efficiency with dynamic trading" (with David Ruß), International Journal of Economics and Finance 93 (2024), 103-120.

• "Energy Imports and Manufacturing Exports with Successive Oligopolies and Storage", Energy Economics 133 (2024).

• "Socially responsible investing: the general equilibrium perspective", Theoretical Economics 18 (2023), 65-95.

• "Financial Trading versus Entrepreneurship: Competition for Talent and Negative Feedback Effects" (with Sebastian Zelzner)
  Quarterly Review of Economics and Finance 86 (2022), 186-199.

• "Low-wage competition: Pains from trade for medium-wage countries" (with Michael Heyna)
  Journal of International Trade & Economic Development 31 (2022) 742-758.

• "Refinancing MFIs with Market Power: Theory and Evidence" (with Benedikt Booker, Gregor Dorfleitner, and Michaela Röhe)
  Small Business Economics 56 (2021), 1485-1505.

• "A North-South Trade Model of Offshoring and Unemployment" (with Stefanie Trepl)
  Open Economies Review 26 (2015), 999-1039.

• "The Economics of Rational Speculation in the Presence of Positive Feedback Trading" (with Stephan Brunner)
  Quarterly Review of Economics and Finance 57 (2015), 161-174.

• "Alas, My Home is My Castle: On the Cost of House Ownership as a Screening Device" (with Andreas Babl)
  Journal of Urban Economics 81 (2014), 57-64.

• "Single-Name Credit Risk, Portfolio Risk, and Credit Rationing" (with Johannes Reeder and Stefanie Trepl)
  Economica 81 (2014), 311-328.

• "Good Intentions Pave the Way to ... the Local Moneylender" (with Benedikt Booker)
  Economics Letters 118 (2013), 466-469.

• Microfinance and markets: New results for the Besley-Coate group lending model" (with Susanne E. Steger and Johannes Reeder)
  Journal of Emerging Market Finance 12 (2013), 59-106

• "Existence of Equilibrium in the Helpman-Krugman Model of International Trade with Imperfect Competition"
  Economic Theory 52 (2013), 237-270.

• "Corporate Insurance with Safety Loadings: A Note" (with Johannes Hartl)
  Journal of Risk and Insurance 80 (2013), 1087-1094.

• "A Game Theoretic Foundation for Competitive Equilibria in the Stiglitz-Weiss Model"
  German Economic Review 13 (2012), 211-227.

• "On the Possibility of Credit Rationing in the Stiglitz-Weiss Model" (with John G. Riley),
  American Economic Review 99 (2009), 2012-2021.

• "On the Growth and Welfare Effects of Monopolistic Distortions" (with Christian Bauer)
  Journal of Economics 97 (2009), 19-40.

• "Anything is Possible: On the Existence and Uniqueness of Equilibria in the Shleifer-Vishny Model of Limits of Arbitrage",
  Review of Finance 13 (2009), 521-553.

• "Comparative Statics and Dynamics of the Romer R&D Growth Model with Quality Upgrading " (with Wolfgang Kornprobst),
  Macroeconomic Dynamics 12 (2008), 702-716.

• "A Generalized Multi-Country Endogenous Growth Model",
  International Economics and Economic Policy 4 (2007), 61-100.

• "Does the Choice Between Wage Inequality and Unemployment Affect Growth?",
  German Economic Review 7 (2006), 87-112.
  (Click here for the technical appendix.)

• "The Dynamics of the Jones R&D Growth Model",
  Review of Economic Dynamics 9 (2006), 143-152.
  (Click here for the technical appendix.)

• "Growth in Stages",
  Structural Change and Economic Dynamics 14 (2003), 55-74.

• "On the Growth Effects of North-South Trade: The Role of Labor Market Flexibility",
  Journal of International Economics 58 (2002), 451-466.
  (Click here for the technical appendix on transitional dynamics.)

• "On the Effectiveness of Growth-Enhancing Policies in a Model of Growth Without Scale Effects",
  German Economic Review 3 (2002), 339-436.

• "Financial Market Imperfections, Labour Market Imperfections, and Business Cycles",
  Scandinavian Journal of Economics 104 (2002), 105-124.

• "A Model of Debt Deflation and the Phillips Curve: Implications for Business Cycles and the Balance Sheet Channel of Monetary Policy",
  Jahrbücher für Nationalökonomie und Statistik 220 (2000), 385-399.

• ."Endogenous Growth with Physical Capital, Human Capital and Product Variety: A Comment",
  European Economic Review 44 (2000), 1599-1605.

• "Kreditrationierung, Arbeitslosigkeit und Konjunkturschwankungen",
  Kredit und Kapital 33 (2000), 521-547.

• "Endogenous technological change: a note on stability",
  Economic Theory 16 (2000), 219-226.

• "Financial Regimes, Capital Structure, and Growth" (with Uwe Walz),
  European Journal of Political Economy 16 (2000), 491-508.

• "Stability of the Market Equilibrium in Romer's Model of Endogenous Technological Change: A Complete Characterization",
  Journal of Macroeconomics 22 (2000), 69-84.

• "Does Policy Affect Growth?",
  Finanzarchiv 56 (1999), 141-164.

• "Poverty Traps and Financial Development in a Model of Finance and Growth",
  Zeitschrift für Wirtschafts- und Sozialwissenschaften 118 (1998), 415-424.

• "Growth, Welfare, and Trade in an Integrated Model of Human-Capital Accumulation and Research",
  Journal of Macroeconomics 20 (1998), 81-105.

• "Basic and Applied Research",
  Finanzarchiv 54 (1997), 169-189.

• "Stability of the Steady-State Equilibrium in the Uzawa-Lucas Model: A Simple Proof",
  Zeitschrift für Wirtschafts- und Sozialwissenschaften 117 (1997), 197-207.

• "Neue Wachstumstheorie: Ein Überblick",
  ifo-Studien 41 (1995), 409-444.

Other Publications (Non-Refereed Journals, Essay Collections, Newspapers, etc.):

•  "Was ist Geld?",
  Universität für Kinder Sommersemester 2011, Universität Regensburg.

• "Unsinnige Rating-Diskussion",
  Mittelbayerische Zeitung, 8.12.2011.

• "Standpunkte - Ist eine Griechenlandpleite mit der Lehman-Pleite vergleichbar?",
  Profil - Das bayerische Genossenschaftsblatt 9 (2011), 24-5.

• "Editorial zum Themenheft  Immobilien",
  Perspektiven der Wirtschaftspolitik 12 (2011), 101-3.

• "Die Volkswirtschaftslehre steckt nicht in der Krise",
  ifo-Schnelldienst 62 (2009), "Krise der Wirtschaftswissenschaften: Braucht die VWL eine Neuausrichtung?"

• "Geschäftsprognose mit Konjunkturindikatoren bei Siemens Automation and Drives" (with Robert Amler, Alexander Gumann, and Harald Haupt), Erlangen: Publicis Corporate Publishing (2006).

• "Informationsasymmetrien, Bubbles,Währungskrisen. Probleme auf Finanzmärkten",
  Blick in die Wissenschaft, Forschungsmagazin der Universität Regensburg 16 (2004), 36-44.

• "Gebt der Dritten Welt mehr Zeit",
  Die Zeit, 17.5.2002.

• "Was wir vom Euro alles erhoffen",
  Mittelbayerische Zeitung, 31.12.2001.

• "Wer nur wenig weiß, sollte auch wenig tun" (with Wolfgang Wiegard),
  Handelsblatt 27.7.2001.

• "Ein Wachstumsmodell mit interindustriellem internationalen Handel, Innovation und Imitation",
  in: Hans-Rimbert Hemmer und Wolfgang Kroh (eds.), Weiterentwicklungen in der Wachstumstheorie. Tagungsband zum 3. Limburg-Seminar "Wissenschaft und Praxis der Entwicklungsökonomik", Frankfurt a.M.: Kreditanstalt für Wiederaufbau (2000), 7-16.

• "Die Neue Wachstumstheorie",
  Uni-Report, Berichte aus der Forschung der Universität Dortmund 26 (1998), 26-30.

• Book Review: Fiscal Policy and Economic Growth, by Alfred Greiner, Avebury: Aldershot,
  Finanzarchiv 54 (1997), 289-91.

Refereeing:

Allgemeines Statistisches Archiv, American Economic Review, Applied Economics, Australian Economic Papers, B.E. Journal of Macroeconomics, Central European Journal of Operations Research, Comparative Economic Studies, Discrete Dynamics in Nature and Society, Economica, Economic Dynamics and Structural Change, Economic Journal, Economic Modelling, Economics of Transition, Economic Theory, economies, Empirical Economics,  Energy Economics,  Energy Journal, Environmental and Resource Economics, European Economic Review, Finance Research Letters, Finanzarchiv, German Economic Review, ifo-Studien, International Economic Review, International Economics and Economic Policy, International Journal of Economic Sciences and Applied Research, International Journal of Finance and Economics, International Review of Economics, International Tax and Public Finance,  International Trade Journal, Jahrbücher für Nationalökonomie und Statistik, Japanese Economic Review, Journal of Banking and Finance, Journal of Development Economics, Journal of Economic Dynamics and Control, Journal of Economic Growth, Journal of Economics, Journal of Economics and Business, Journal of Economic Surveys, Journal of Economic Theory, Journal of Financial Intermediation, Journal of Institutional and Theoretical Economics, Journal of Macroeconomics, Journal of Mathematical Economics, Journal of Money, Credit, and Banking, Journal of Political Economy, Journal of the European Economic Association, Macroeconomic Dynamics, Manchester School, Mathematical and Computer Modelling, Mathematical Social Sciences, Mathematics and Financial Economics, Mathematics in Computer Science, Metroeconomica, Oxford Bulletin of Economics and Statistics, Oxford Economic Papers, Perspektiven der Wirtschaftspolitik, Public Choice, Public Finance Review, Review of Development Economics, Review of Economic Studies, Review of Finance, Review of International Economics, Ricerche Economiche, Scandinavian Journal of Economics, Schmollers Jahrbuch, Scottish Journal of Political Economy, Structural Change and Economic Dynamics, Theoretical Economics Letters, Zeitschrift für Wirtschafts- und Sozialwissenschaften.

Lectures

• Unemployment

• Business Cycle Theory

• Microeconomics (undergraduate)

• Financial Economics

• International Finance

• Macroeconomics (undergraduate)

• Theory of West-East Trade

• Dynamic Methods in Economics

• Advanced Financial Economics

Seminars

• International Economics

• Optimum Taxation and the Double-Dividend Hypothesis

• New Keynesian Economics

• European Monetary Union

• Dynamic Macroeconomics

• Business Cycle Theory

• Money, Banking, and Financial Markets

• Comparing Financial Systems

• Globalization

• Asymmetric Information

• Financial Economics

• Selected Topics in Financial Economics

• Classical Theorems in Mathematical Economics

Ph.D. course

• Growth Theory