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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

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

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

Entrepreneurship: Origins and Returns

Berglann, Helge; Moen, Espen R; Roed, Knut; Skogstrøm, … - C.E.P.R. Discussion Papers - 2009

We examine the origins and outcome of entrepreneurship on the basis of exceptionally comprehensive Norwegian matched … worker-firm-owner data. In contrast to most existing studies, our notion of entrepreneurship not only comprises self …-employment, but also employment in partly self-owned limited liability firms. Based on this extended entrepreneurship concept, we find …

Persistent link: https://www.econbiz.de/10005079007

Perceptions, Expectations, and Entrepreneurship: The Role of Extreme Events

Brück, Tilman; Llussá, Fernanda; Tavares, José - C.E.P.R. Discussion Papers - 2010

We provide, for the first time, comparative evidence of the impact of various types of extreme events – natural disasters, terrorism, and violent conflicts – on the perceptions of entrepreneurs concerning some key entrepreneurial issues – such as fear of failure in starting a business...

Persistent link: https://www.econbiz.de/10008692319

Which Immigrants Are Most Innovative and Entrepreneurial: Distinctions by Entry Visa

Hunt, Jennifer - C.E.P.R. Discussion Papers - 2010

Using the 2003 National Survey of College Graduates, I examine how immigrants perform relative to natives in activities likely to increase U.S. productivity, according to the type of visa on which they first entered the United States. Immigrants who first entered on a student/trainee visa or a...

Persistent link: https://www.econbiz.de/10008468510

Progressive Taxes and Firm Births

Bacher, Hans Ulrich; Brülhart, Marius - C.E.P.R. Discussion Papers - 2010

Tax reform proposals in the spirit of the 'flat tax' model typically aim to reduce three parameters: the average tax burden, the progressivity of the tax schedule, and the complexity of the tax code. We explore the implications of changes in these three parameters on entrepreneurial activity,...

Persistent link: https://www.econbiz.de/10008468564

Financial Innovation and Endogenous Growth

Laeven, Luc; Levine, Ross; Michalopoulos, Stelios - C.E.P.R. Discussion Papers - 2009

We model technological and financial innovation as reflecting the decisions of profit maximizing agents and explore the implications for economic growth. We start with a Schumpeterian endogenous growth model where entrepreneurs earn monopoly profits by inventing better goods and financiers arise...

Persistent link: https://www.econbiz.de/10008528522

Entrepreneurial Innovations, Entrepreneurship Policy and Globalization

Douhan, Robin; Norbäck, Pehr-Johan; Persson, Lars - C.E.P.R. Discussion Papers - 2010

What explains the world-wide trend of pro-entrepreneurial policies? We study entrepreneurial policy in a lobbying model taking into account the conflict of interest between entrepreneurs and incumbents. It is shown that international market integration leads to more pro-entrepreneurial policies....

Persistent link: https://www.econbiz.de/10008530366

Labor Laws and Innovation

Acharya, Viral V; Baghai, Ramin; Subramanian, Krishnamurthy - C.E.P.R. Discussion Papers - 2009

Can stringent labor laws be efficient? Possibly, if they provide firms with a commitment device to not punish short-run failures and thereby incentivize the pursuit of value-maximizing innovative activities. In this paper, we provide empirical evidence that strong labor laws indeed appear to...

Persistent link: https://www.econbiz.de/10004980205