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Has Creative Destruction Become More Destructive?
Komlos, John - CESifo - 2014
Schumpeter’s concept of creative destruction as the engine of capitalist development is well-known. However, that the … destructive part of creative destruction is a social cost and therefore biases our estimate of the impact of the innovation on NNP … the process of destruction. Consequently, the contribution of recent innovations to NNP and to welfare is likely biased …
Persistent link: https://www.econbiz.de/10010888453
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The Rise of Capitalism and the Roots of Anti-American Terrorism
Krieger, Tim; Meierrieks, Daniel - CESifo - 2014
This contribution examines the role of capitalism in anti-American terrorism. Using data for 149 countries between 1970 …, consistent with economic norms theory, higher levels of market-capitalism are associated with less anti-American terrorism …
Persistent link: https://www.econbiz.de/10010796436
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The Biological Standard of Living in the Two Germanies
Komlos, John; Kriwy, Peter - CESifo - 2001
Physical stature is used as a proxy for the biological standard of living in thetwo Germanies before and after unification in an analysis of a cross-sectionalsample (1998) of adult heights, as well as among military recruits of the1990s. West Germans tended to be taller than East Germans...
Persistent link: https://www.econbiz.de/10005094150
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Strategic Approaches to CO2 Emissions - The Case of the Cement Industry and of the Chemical Industry
Arjaliès, Diane Laure; Goubet, Cécile; Ponssard, … - CESifo - 2014
The ability of companies to turn an environmental constraint into a source of strategic opportunities is a controversial topic in published research. The article, which is based on a comparative study of the CO2 emission reduction strategies implemented by the cement and chemical industries,...
Persistent link: https://www.econbiz.de/10010877636
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Monetary Policy, Vagabonding Liquidity and Bursting Bubbles in New and Emerging Markets – An Overinvestment View
Hoffmann, Andreas; Schnabl, Gunther - CESifo - 2007
theories of Hayek, Wicksell and Schumpeter. We argue that ample liquidity supply originating in the large industrialized …
Persistent link: https://www.econbiz.de/10005094169
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The Impact of Monetary and Commodity Fundamentals, Macro News and Central Bank Communication on the Exchange Rate: Evidence from South Africa
Egert, Balazs - CESifo - 2009
This paper studies drivers of high-frequency (daily) dynamics of the South African rand vis-à-vis the dollar from January 2001 to July 2007. We find strong nonlinear effects of commodity prices, perceived country and emerging market risk premium and changes in the dollar-euro exchange rate on...
Persistent link: https://www.econbiz.de/10005000381
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An Alternative Conditional Asymmetry Specification for Stock Returns
Brännäs, Kurt; Nordman, Niklas - CESifo - 2001
The paper advances the log-generalized gamma distribution as a suitable generator of conditional skewness. Based on the NYSE composite daily returns an asMA-asQGARCH model along with skewness dynamics is estimated. The results indicate a skewness that varies between sizeable negative skewness...
Persistent link: https://www.econbiz.de/10005765680
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Public Debt, Economic Growth and Nonlinear Effects: Myth or Reality
Egert, Balazs - CESifo - 2013
nonlinear relationship between debt and growth is very sensitive to modelling choices. We also show that when nonlinearity is …
Persistent link: https://www.econbiz.de/10010631772
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The 90% Public Debt Threshold: The Rise and Fall of a Stylised Fact
Egert, Balazs - CESifo - 2013
This paper puts the original Reinhart-Rogoff dataset, made public by Herndon et al. (2013), to a formal econometric test to pin down debt threshold endogenously. We show that the nonlinear relation from debt to growth is not very robust. Taken with a pinch of salt, our results suggest, however,...
Persistent link: https://www.econbiz.de/10010659189
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Financial Constraints and other Obstacles: Are they a Threat to Innovation Activity?
Loeff, Sybrand Schim van der; Mohnen, Pierre; Palm, Franz; … - CESifo - 2008
In this paper we examine the importance of financial and other obstacles to innovation in the Netherlands using … statistical information from the CIS 3.5 innovation survey. We report results on the effect of these obstacles on the firms …
Persistent link: https://www.econbiz.de/10005406079