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Globalisation and the World Trade Organization

Commission, Productivity - EconWPA - 2001

In its latest annual report, of which this is an extract, the Productivity Commission responds to current misconceptions about globalisation and the World Trade Organization (WTO). The Commission notes that, among other trends, there has been a five-fold increase in average per capita income...

Persistent link: https://www.econbiz.de/10005119224

The Information Content of German Discount Rate Changes

Neumann, Manfred J.M.; Weidmann, Jens - EconWPA - 1997

Discount rate changes always receive considerable attention in financial markets. Two hypotheses compete to explain financial market reactions: the direct ‘borrowing cost effect’ and the announcement effect. This paper examines the issue for the Bundesbank’s discount rate changes after...

Persistent link: https://www.econbiz.de/10005126367

The function of the central bank

Stanners, Walter - EconWPA - 2002

The general view of the media, bankers, business and politicians, not noticeably contradicted by academics, is that one of the main functions, or the main function, of the central bank is to analyse the progress of the economy, and then to steer it with skilful judgement towards health and...

Persistent link: https://www.econbiz.de/10005561324

Performance evaluation of ethical mutual funds in slump periods

Basso, Antonella; Funari, Stefania - EconWPA - 2005

In this paper we tackle the problem of the presence of negative average rate of returns in the computation of the performance of ethical mutual funds. The presence of these negative values raises problems both in the computation of the classical performance indicators and in DEA modeling. In...

Persistent link: https://www.econbiz.de/10005062743

Performance Evaluation of Public Pension Funds: The Reformed Pension System in Poland

Stanko, Dariusz - EconWPA - 2003

The paper is an updated first performance evaluation study of the Polish pension funds operating from 1999. The unconditional performance evaluation models are used. It is shown that pension fund managers did produce additional value due to active management. Therefore, unsatisfactory overall...

Persistent link: https://www.econbiz.de/10005413168

R&D and Subsidies at the Firm Level: An Application of Parametric and Semi-Parametric Two-Step Selection Models

Hussinger, Katrin - EconWPA - 2004

This paper analyzes the effects of public subsidies on R&D expenditure in the German manufacturing sector. The focus is on the question whether public R&D funding stimulates or crowds out private investment. Cross sectional data at the firm level is used. By applying parametric and...

Persistent link: https://www.econbiz.de/10005076604

VERTICAL R&D SPILLOVERS, COOPERATION, MARKET STRUCTURE, AND INNOVATION

Atallah, Gamal - EconWPA - 2000

are taken into account. The paper proposes a theory of innovation and market structure, showing that the relation between … innovation and competition depends on horizontal spillovers, vertical spillovers, and cooperative settings. The private …

Persistent link: https://www.econbiz.de/10005076906

A Model of Primary and Secondary Waves in Investment Cycles

Fioretti, Guido - EconWPA - 2002

. Uniting Schumpeter's concern for innovation with Keynes' concern for uncertainty and expectations formation, this article … focuses on the behaviour of entrepreneurs confronting uncertainty caused by innovation. Entrepreneurs' behaviour is … opened up by a successful innovation generates a state of optimism in the minds of single entrepreneurs, which eventually …

Persistent link: https://www.econbiz.de/10005077089

Evidence Theory: A Mathematical Framework for Unpredictable Hypotheses

Fioretti, Guido - EconWPA - 2002

Shafer's evidence theory is a branch of the mathematics of uncertain reasoning that allows for novel possibilities to be conceived by a decision-maker. Many of its findings exhibit striking similarities with an alternative decision theory purported by Shackle in the 1950s, before expected...

Persistent link: https://www.econbiz.de/10005125582

VIOLACIÓN A LOS DERECHOS DE PROPIEDAD INTELECTUAL: LA INCIDENCIA DEL INGRESO, LA CULTURA, LA EDUCACIÓN, LAS ORGANIZACIONES, LAS INSTITUCIONES Y LA INNOVACIÓN EN LA PIRATERÍA DE SOF...

Marquez, Pablo - EconWPA - 2005

The target of this paper is to question the causes of software intellectual property rights violation. To solve this question, the author analyses how has evolved the economic literature of IPR violation showing that the traditional market variables do not fulfill the requirements to explain the...

Persistent link: https://www.econbiz.de/10005126044