Robust decision making implies welfare costs or robustness premia when the approximating model is the true data generating process. To examine the importance of these premia at the aggregate level we employ a simple two-sector dynamic general equilibrium model with human capital and introduce an...

It is widely recognized that the policy objectives of fiscal and monetary policymakers usually have different time horizons, and this feature may not be captured by traditional econometric techniques. In this paper, we first decompose U.S macroeconomic data using a time-frequency domain...

Robust decision making implies welfare costs or robustness premia when the approximating model is the true data generating process. To examine the importance of these premia at the aggregate level we employ a simple two-sector dynamic general equilibrium model with human capital and introduce an...

The importance of new knowledge in innovative activities of firms and the impact of these activities on economic development of regions have been acknowledged in many studies. In particular, universities and firms that are established on university knowledge, spin-off firms, function as nodes...

Although both the industrialised countries and the developing countries have an interest in the transfer of technology, there is a considerable amount of disagreement as to how the gains from the transfer should be apportioned. Professor Hoffmann offers a theoretical analysis of the mechanisms...

While there is a vast body of research on the benefits of FDI in developing countries, whether and how the form of FDI matters have received limited attention. In this paper, we study the impact of FDI via quid pro quo (technology for market access) on facilitating knowledge spillover and...