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Creative Destruction and Productive Preemption
Norbäck, Pehr-Johan; Persson, Lars; Svensson, Roger - CESifo - 2013
We develop a theory of innovation for entry and sale into oligopoly, and show that inventions of higher quality are more likely to be sold (or licensed) to an incumbent due to strategic product market effects on the sales price. Such preemptive acquisitions by incumbents are shown to stimulate...
Persistent link: https://www.econbiz.de/10010877893
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Choosing Intellectual Protection: Imitation, Patent Strength and Licensing
Encaoua, David; Lefouili, Yassine - CESifo - 2006
-stage model in which choosing between patent and trade secrecy is affected by three parameters : the patent strength defined as … whereas small innovations are always patented. Furthermore, medium innovations are patented only when patent strength is … sufficiently high. Finally, we investigate a class of licensing agreements used to settle patent disputes between patent holders …
Persistent link: https://www.econbiz.de/10005181619
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Debt Sustainability in the Case of External Debt. An Analysis Based on Italy's Treasury Auctions
Cafiso, Gianluca - CESifo - 2014
The objective of this paper is to assess whether external debt makes a difference for public debt stabilization, where external debt is considered through the non-residents’ holdings according to a Balance of Payments perspective. The analysis is empirical and considers the case of Italy, one...
Persistent link: https://www.econbiz.de/10010948904
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United States Current Account Deficits: A Stochastic Optimal Control Analysis
Stein, Jerome L. - CESifo - 2006
The "Pessimists" and the "Optimists" disagree whether the US external deficits and the associated buildup of US net foreign liabilities are problems that require urgent attention. A warning signal should be that the debt ratio deviates significantly from the optimal ratio. The optimal debt ratio...
Persistent link: https://www.econbiz.de/10005181519
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Institutions and Economic Growth in Historical Perspective: Part 1
Ogilvie, Sheilagh; Carus, A. W. - CESifo - 2014
This is Part 1 of a two-part paper which surveys the historical evidence on the role of institutions in economic growth. The paper provides a critical scrutiny of a number of stylized facts widely accepted in the growth literature. It shows that private-order institutions have not historically...
Persistent link: https://www.econbiz.de/10010877698
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Institutions and Economic Growth in Historical Perspective: Part 2
Ogilvie, Sheilagh; Carus, A. W. - CESifo - 2014
This is Part 2 of a two-part paper which surveys the historical evidence on the role of institutions in economic growth. The paper provides a critical scrutiny of a number of stylized facts widely accepted in the growth literature. It shows that private-order institutions have not historically...
Persistent link: https://www.econbiz.de/10010877727
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Simply a Matter of Luck & Looks? Predicting Elections when Both the World Economy and the Psychology of Faces Count
Garretsen, Harry; Stoker, Janka I.; Alessie, Rob; … - CESifo - 2014
Economic research shows that candidates have a higher chance of getting (re-)elected when they have the luck that the world economy does well even though this is beyond their control and unrelated to their competence. Psychological research demonstrates that candidates increase their chances if...
Persistent link: https://www.econbiz.de/10010877923
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Economic Growth and Judicial Independence, a Dozen Years On: Cross-Country Evidence Using an Updated Set of Indicators
Voigt, Stefan; Gutmann, Jerg; Feld, Lars P. - CESifo - 2014
Over 10 years ago, Feld and Voigt (2003) introduced the first indicator for objectively meas-uring the actual independence of the judiciary and demonstrated its utility in a large cross-section of countries. The indicator has been widely used, but also criticized. This paper pre-sents more...
Persistent link: https://www.econbiz.de/10010948870
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Fiscal Federalism, Decentralization and Economic Growth: Survey and Meta-Analysis
Baskaran, Thushyanthan; Feld, Lars P.; Schnellenbach, Jan - CESifo - 2014
The theoretical literature on the economics of fiscal federalism has identified several potential effects of government decentralization on economic growth. Much of the traditional literature focuses on the efficiency aspects of a decentralized provision of public services. However,...
Persistent link: https://www.econbiz.de/10010948879
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Energy Consumption and Economic Growth Revisited in African Countries
Eggoh, Jude C.; Bangaké, Chrysost; Rault, Christophe - CESifo - 2011
The aim of this paper is to provide new empirical evidence on the relationship between energy consumption and economic growth for 21 African countries over the period from 1970 to 2006, using recently developed panel cointegration and causality tests. The countries are divided into two groups:...
Persistent link: https://www.econbiz.de/10009320785