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Industries at the World Technology Frontier: Measuring R&D Efficiency in a Non-Parametric DEA Framework

Schmidt-Ehmcke, Jens; Zloczysti, Petra - C.E.P.R. Discussion Papers - 2011

the most efficient innovation processes. We combine a traditional nonparametric frontier approach with super-efficiency … and tests for return to scale properties using bootstrap procedures to derive consistent and robust efficiency estimates … Denmark have the highest R&D efficiency on average in total manufacturing. However, sector-specific efficiency scores reveal …

Persistent link: https://www.econbiz.de/10009321843

R&D Efficiency and Barriers to Entry: A Two Stage Semi-Parametric DEA Approach

Cullmann, Astrid; Schmidt-Ehmcke, Jens; Zloczysti, Petra - C.E.P.R. Discussion Papers - 2010

This paper assesses the relative efficiency of knowledge production in the OECD using a nonparametric DEA approach. In … constraints. The efficiency scores presented are based on an intertemporal frontier estimation for the period 1995 to 2004. We …&D efficiency by attenuating the incentives to innovate and to allocate resources efficiently. …

Persistent link: https://www.econbiz.de/10008684686

Consolidating the Water Industry: An Analysis of the Potential Gains from Horizontal Integration in a Conditional Efficiency Framework

Zschille, Michael - C.E.P.R. Discussion Papers - 2012

efficiency improvements through consolidation. Focusing on a hypothetical restructuring of the industry, we apply Data … Envelopment Analysis (DEA) to analyze the potential efficiency gains from mergers between water utilities at the county level. A … conditional efficiency framework is used to account for the operating environment. Highest efficiency improvement potentials turn …

Persistent link: https://www.econbiz.de/10011083827

The Integration of Financial Services and Economic Welfare after `1992'

Ryan, Cillian - C.E.P.R. Discussion Papers - 1992

This paper uses a computable general-equilibrium model of intertemporal demand to investigate the impact of market integration after 1992 on financial services and economic welfare in the European Community (EC). In contrast to previous work, it assesses the impact of `1992' on the demand for...

Persistent link: https://www.econbiz.de/10005136549

Shocks to Bank Lending, Risk-Taking, Securitization, and their Role for U.S. Business Cycle Fluctuations

Peersman, Gert; Wagner, Wolf - C.E.P.R. Discussion Papers - 2015

Shocks to bank lending, risk-taking and securitization activities that are orthogonal to real economy and monetary policy innovations account for more than 30 percent of U.S. output variation. The dynamic effects, however, depend on the type of shock. Expansionary securitization shocks lead to a...

Persistent link: https://www.econbiz.de/10011262887

What Hinders Investment in the Aftermath of Financial Crises: Insolvent Firms or Illiquid Banks?

Kalemli-Ozcan, Sebnem; Kamil, Herman; Villegas-Sanchez, … - C.E.P.R. Discussion Papers - 2011

We provide evidence on the real effects of credit supply shocks utilizing a new firm-level database from six Latin American countries between 1990 to 2005. Holding creditworthiness constant through foreign currency debt exposure, we compare investment undertaken by domestic exporters to that of...

Persistent link: https://www.econbiz.de/10009275697

The Euro and International Capital Markets

Detken, Carsten; Hartmann, Philipp - C.E.P.R. Discussion Papers - 2000

This paper provides a broad empirical examination of the major currencies' roles in international capital markets, with a special emphasis on the first year of the Euro. A contribution is made as to how to measure these roles, both for international financing as well as for international...

Persistent link: https://www.econbiz.de/10005123910

Corporate Debt Restructuring: Evidence on Lending Coordination in Financial Distress

Brunner, Antje; Krahnen, Jan Pieter - C.E.P.R. Discussion Papers - 2001

We analyse the coordination problem in multi-creditor relationships empirically, relying on a unique panel data set that contains detailed credit-file information on distressed lending relationships in Germany, including information on creditor pools, a legal institution aiming at coordinating...

Persistent link: https://www.econbiz.de/10005123994

Endogenous Communication Among Lenders and Entrepreneurial Incentives

Padilla, Atilano Jorge; Pagano, Marco - C.E.P.R. Discussion Papers - 1996

When banks have an informational monopoly about their borrowers, the latter incentives can be thwarted by the fear that the return on their effort will be partly appropriated by their banks via high future interest rates. Banks can correct this incentive problem through a commitment to share...

Persistent link: https://www.econbiz.de/10005124286

German Bank Lending During Financial Crises: A Bank Level Analysis

Heid, Frank; Nestmann, Thorsten; Von Westernhagen, Natalja - C.E.P.R. Discussion Papers - 2005

This paper studies German bank lending during the Asian and Russian crises, using a bank level data set from the Deutsche Bundesbank. Our aim is to gain more insight into the pattern of German bank lending during financial crises in emerging markets. We find that German banks reacted to the...

Persistent link: https://www.econbiz.de/10005504386

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