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Trend Growth and Learning About Monetary Policy Rules in a Two-Block World Economy

Schaling, Eric; Tesfaselassie, Mewael F. - Institut für Weltwirtschaft (IfW) - 2013

of openness and growth on determinacy and learnability of worldwide rational expectations equilibria we develop a two … (i) under the contemporaneous data policy rule the conditions for determinacy and learnability become more stringent on … expectations-based policy rule the conditions for determinacy and learnability also become more stringent on account of openness …

Persistent link: https://www.econbiz.de/10010886862

Trend Growth and Learning About Monetary Policy Rules

Tesfaselassie, Mewael - Institut für Weltwirtschaft (IfW) - 2011

The paper examines the effect of trend productivity growth on the determinacy and learnability of equilibria under … a higher trend growth rate relaxes the conditions for determinacy and learnability. Results are mixed for other policy … rules. Under the expectations-based rule, trend growth reduces the scope for determinacy but it relaxes the conditions for …

Persistent link: https://www.econbiz.de/10009365996

On Determinacy and Learnability in a New Keynesian Model with Unemployment

Tesfaselassie, Mewael F.; Schaling, Eric - Institut für Weltwirtschaft (IfW) - 2009

We analyze determinacy and stability under learning (E-stability) of rational expectations equilibria in the Blanchard … explaining unemployment instability. Under lagged data based rules the area where monetary policy delivers both determinacy and E …-based rules – unlike Bullard and Mitra (2002) – an additional explosive region is introduced. Here also the scope for determinacy …

Persistent link: https://www.econbiz.de/10005566204

Can Oil-led Growth and Structural Change Go Hand in Hand in Ghana? A Multi-sector Intertemporal General Equilibrium Assessment

Breisinger, Clemens; Diao, Xinshen; Wiebelt, Manfred - Institut für Weltwirtschaft (IfW) - 2012

Unlike in Asia, the manufacturing sector has not (yet) become a driver of structural change in Africa. One common explanation is that the natural resource-focus of many African economies leads to Dutch disease effects. To test this argument for the case of newly found oil in Ghana we develop a...

Persistent link: https://www.econbiz.de/10010886853

On the Relation between Dual-Rate Discounting and Substitutability

Kögel, Tomas - Institut für Weltwirtschaft (IfW) - 2009

To justify substantial emission reductions, recent literature on cost-benefit analysis of climate change suggests discounting environment consumption with an environmental discount rate instead of a consumption discount rate that is usually used in cost-benefit analysis. The present study...

Persistent link: https://www.econbiz.de/10005083352

A Model of Eco-Efficiency and Recycling

Cogoy, Mario - Institut für Weltwirtschaft (IfW) - 2009

This paper presents the model of an economy subject to the mass conservation principle. The economic system is related to the environment by a flow of virgin materials into the economy, and by the diffusion of waste into the environment. Ecoefficiency contributes to reducing material waste in...

Persistent link: https://www.econbiz.de/10005083373

Now or Never: Environmental Protection under Hyperbolic Discounting

Winkler, Ralph - Institut für Weltwirtschaft (IfW) - 2009

The author analyzes the optimal investment in environmental protection in a model of an infinite series of non-overlapping hyperbolically discounting agents. He shows that without a commitment mechanism society is eventually stuck in a situation where all agents prefer further investment in the...

Persistent link: https://www.econbiz.de/10005083394

Innovation Rankings: Good, Bad or Revealing?

Cai, Yuezhou; Hanley, Aoife - Institut für Weltwirtschaft (IfW) - 2013

The standard indicators used to compare cross-country innovation are in the Global Competitiveness Report (GCR). But there are problems with aggregation and response bias with these largely self-reported measures (Hollanders and van Cruysen, 2008). We propose a theory-based metric using Data...

Persistent link: https://www.econbiz.de/10010886857

Science parks, knowledge spillovers, and firms' innovative performance: evidence from Finland

Squicciarini, Mariagrazia - Institut für Weltwirtschaft (IfW) - 2009

The paper focuses on the role of Science Parks (SPs) as seedbeds of innovation. It investigates whether and to what extent locating inside a science park relates to the innovative output of tenant firms. The simple assessment methodology proposed relies on count data models, uses patents as...

Persistent link: https://www.econbiz.de/10005083393

The German innovation system: conceptions, institutions and economic efficency

Klodt, Henning - Institut für Weltwirtschaft (IfW) - 1996

The economic analysis of technology policy suggests non-distortive public support of private innovative activities with a stress upon basic rather than applied research. Actual technology policy in Germany is marked by a high degree of sectoral selectivity which results from the dominance of...

Persistent link: https://www.econbiz.de/10009277663