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What Explains Persistent Inflation Differentials Across Transition Economies?

Hammermann, Felix; Flanagan, Mark - Institut für Weltwirtschaft (IfW) - 2007

inflation rates mainly to make up for, and to perhaps exploit, lagging internal and external liberalization in their economies … changes in institutions, suggest that incentives may be diminishing, but not to the point where inflation levels below 5 … inflation, and enhancements to central bank independence could help shield these central banks from pressures. …

Persistent link: https://www.econbiz.de/10005755256

Nonmonetary Determinants of Inflation in Romania: A Decomposition

Hammermann, Felix - Institut für Weltwirtschaft (IfW) - 2007

Why is inflation, 15 years after transition started, still considerably higher in Romania than in the eight EU member … decompose the inflation differential between Romania and the EU-8. The decomposition suggests that neither the revenue, nor the … balance of payments, nor the financial stability motive are driving inflation; rather structural differences are at play. The …

Persistent link: https://www.econbiz.de/10005076118

Estimating monetary policy rules when the zero lower bound on nominal interest rates is approached

Kiesel, Konstantin; Wolters, Maik - Institut für Weltwirtschaft (IfW) - 2014

methods is sizeable for the inflation response parameter, while it is very small for the output gap response and the interest …

Persistent link: https://www.econbiz.de/10010886892

Learning How to Export

Segerstrom, Paul S.; Stepanok, Ignat - Institut für Weltwirtschaft (IfW) - 2012

In this paper, we present a standard quality ladders endogenous growth model with one significant new assumption, that it takes time for firms to learn how to export. We show that this model without Melitz-type assumptions can account for all the evidence that the Melitz (2003) model was...

Persistent link: https://www.econbiz.de/10010886938

(In)determinacy, bargaining, and R&D policies in an economy with endogenous technological change

Lai, Chung-hui - Institut für Weltwirtschaft (IfW) - 2013

In this paper, the author shows how the introduction of a bargaining game structure into a standard R&D endogenous growth model can be a potential source of local indeterminacy. He also shows that on a high-growth path, the government, by directly engaging in R&D activities and using R&D...

Persistent link: https://www.econbiz.de/10010956031

Is Regional Innovative Activity Path-dependent? An Empirical Analysis for Germany

Bode, Eckhardt - Institut für Weltwirtschaft (IfW) - 2001

Based on a standard idea-based model of endogenous growth we test the hypothesis that regional innovative activity is path-dependent, and investigate the geographical scope of knowledge spillovers. Using data for West-German regions, two alternative indicators of the stock of knowledge are...

Persistent link: https://www.econbiz.de/10005076108

Effects of intellectual property rights protection and integration on economic growth and welfare

Lai, Chung-hui; Wang, Vey - Institut für Weltwirtschaft (IfW) - 2015

The protection of intellectual property rights (IPR) and the distribution of rent are central issues in R&D-based growth models with the return to innovation serving as the engine of growth. In this paper the authors consider the strength of the intellectual property rights and franchise...

Persistent link: https://www.econbiz.de/10011122552

What drives Endogenous Growth in the United States?

Wesselbaum, Dennis - Institut für Weltwirtschaft (IfW) - 2010

This paper estimates whether learning-by-doing effects or cleansing effects of recessions drive the endogenous component of productivity in the United States. Using Bayesian estimation techniques we find that external and internal learning-by-doing effects dominate. We find no evidence for...

Persistent link: https://www.econbiz.de/10008557213

The Effect of Foreign Aid on Income Inequality: Evidence from Panel Cointegration

Herzer, Dierk; Nunnenkamp, Peter - Institut für Weltwirtschaft (IfW) - 2012

This paper examines the long-run effect of foreign aid on income inequality for 21 recipient countries using panel cointegration techniques to control for omitted variable and endogeneity bias. We find that aid exerts an inequality increasing effect on income distribution

Persistent link: https://www.econbiz.de/10010886909

Estimating the impact of climate change on agricultural production: accounting for technology heterogeneity across countries

Exenberger, Andreas; Pondorfer, Andreas; Wolters, Maik - Institut für Weltwirtschaft (IfW) - 2014

We estimate the impact of climate change on agricultural production in a panel of 127 countries from 1961 to 2002. In contrast to the existing literature we account for cross-sectional dependence and technology heterogeneity. We find no significant impact of climate change on agricultural...

Persistent link: https://www.econbiz.de/10010886939