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On Identifying the Core of EMU: An Exploration of Some Empirical Criteria
Artis, Michael J; Zhang, Wenda - C.E.P.R. Discussion Papers - 1997
The paper reports strikingly high correlations of the cyclical components of industrial production between the participant countries in the ERM. Supplementing these correlations with criteria based on real exchange rate volatility, trade and monetary policy conformity, cluster analysis is used...
Persistent link: https://www.econbiz.de/10005123757
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Are European Business Cycles Close Enough to be Just One?
Camacho, Maximo; Pérez-Quirós, Gabriel; Sáiz Matute, … - C.E.P.R. Discussion Papers - 2005
We propose a comprehensive methodology to characterize the business cycle comovements across European economies and some industrialized countries, always trying to ‘let the data speak’. Out of this framework, we propose a novel method to show that there is no ‘Euro economy’ that acts as...
Persistent link: https://www.econbiz.de/10005124454
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Globalization and Business Cycle Transmission
Artis, Michael J; Okubo, Toshihiro - C.E.P.R. Discussion Papers - 2008
The paper uses long-run GDP data for developed countries drawn from Maddison (2003) to generate deviation cycles for the period from 1870 to 2001. The cyclical deviates are examined for their bilateral cross-correlation values in three separate periods, those of the first globalization wave...
Persistent link: https://www.econbiz.de/10005792022
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Monetary and Exchange Rate Policy in Korea: Assessments and Policy Issues
Eichengreen, Barry - C.E.P.R. Discussion Papers - 2004
This Paper considers monetary and exchange rate policy in Korea since the financial crisis of 1997-98. The Bank of Korea has adopted much of the apparatus of inflation targeting, with a band for target inflation and a Monetary Policy Report to the National Assembly. This regime has served the...
Persistent link: https://www.econbiz.de/10005136674
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Religion and Innovation
Bénabou, Roland; Ticchi, Davide; Vindigni, Andrea - C.E.P.R. Discussion Papers - 2015
individual level, examining the relationship between religiosity and a broad set of pro- or anti-innovation attitudes in all five … waves of the World Values Survey (1980 to 2005). We thus relate eleven indicators of individual openness to innovation … innovation. …
Persistent link: https://www.econbiz.de/10011213308
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Taxation and the International Mobility of Inventors
Akcigit, Ufuk; Baslandze, Salomé; Stantcheva, Stefanie - C.E.P.R. Discussion Papers - 2015
This paper studies the effect of top tax rates on inventors' mobility since 1977. We put special emphasis on "superstar" inventors, those with the most and most valuable patents. We use panel data on inventors from the United States and European Patent Offices to track inventors' locations over...
Persistent link: https://www.econbiz.de/10011272707
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Forbidden Fruits: The Political Economy of Science, Religion, and Growth
Bénabou, Roland; Ticchi, Davide; Vindigni, Andrea - C.E.P.R. Discussion Papers - 2015
We analyze the joint dynamics of religious beliefs, scientific progress and coalitional politics along both religious and economic lines. History offers many examples of the recurring tensions between science and organized religion, but as part of the paper’s motivating evidence we also...
Persistent link: https://www.econbiz.de/10011262883
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The Berlin Stock Exchange in Imperial Germany – a Market for New Technology?
Lehmann, Sibylle; Streb, Jochen - C.E.P.R. Discussion Papers - 2015
Analysing 474 cases of firms going public in the German capital between 1892 and 1913, we show that innovative firms could rely on the Berlin stock market as a source of financing. The data also reveal that initial public offerings (IPO) of innovative firms were characterized by particularly low...
Persistent link: https://www.econbiz.de/10011266534
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Firm collaboration and modes of innovation in Norway
Fitjar, Rune Dahl; Rodriguez-Pose, Andres - C.E.P.R. Discussion Papers - 2011
This paper examines the sources of firm product and process innovation in Norway. It uses a purpose-built survey of ….’s (2007) contention that firm innovation is both the result of ‘science, technology and innovation’ (STI) and ‘doing, using … innovation and that both STI and DUI-modes of interaction matter. However, it also shows that DUI modes of interaction outside …
Persistent link: https://www.econbiz.de/10009225958
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Venture Capital, Patenting, and Usefulness of Innovations
Fabrizi, Simona; Lippert, Steffen; Norbäck, Pehr-Johan; … - C.E.P.R. Discussion Papers - 2011
We analyze incentives to develop entrepreneurial ideas for venture capitalists (VCs) and incumbent firms. If VCs are sufficiently better at judging an idea's value and if it is sufficiently more costly to patent low than high value ideas, VCs acquire valuable ideas, develop them beyond the level...
Persistent link: https://www.econbiz.de/10009643508