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Power-Law and Log-Normal Distributions in Firm Size Displacement Data

Ishikawa, Atushi - Institut für Weltwirtschaft (IfW) - 2008

We have shown that firm size signed displacement data follow not only power-law in the large scale region but also the log-normal distribution in the middle scale one. In the analyses, we employ three databases: high-income data, high-sales data and positive-profits data of Japanese firms. It is...

Persistent link: https://www.econbiz.de/10005083342

Does Macroeconomics Need Microeconomic Foundations?

Da Silva, Sergio - Institut für Weltwirtschaft (IfW) - 2009

The author argues that it is microeconomics that needs foundations, not macroeconomics. Preferences need to be built on biology, and, in particular, on neuroscience. In contrast, macroeconomics could benefit from rationalizations of aggregate economic phenomena by non-equilibrium statistical...

Persistent link: https://www.econbiz.de/10005083350

A new method for measuring tail exponents of firm size distributions

Fujimoto, Shouji; Ishikawa, Atushi; Mizuno, Takayuki; … - Institut für Weltwirtschaft (IfW) - 2011

We propose a new method for estimating the power-law exponent of a firm size variable, such as annual sales. Our focus is on how to empirically identify a range in which a firm size variable follows a power-law distribution. As is well known, a firm size variable follows a power-law distribution...

Persistent link: https://www.econbiz.de/10009246868

Applications of Statistical Physics in Finance and Economics

Lux, Thomas - Institut für Weltwirtschaft (IfW) - 2008

economics and finance. The bulk of what has recently become known as 'econophysics' in broader circles draws its motivation from … the recent inception of new strands of research on this topic, both within econophysics and the neoclassical economics … agent-based approaches to industrial organization and macroeconomic dynamics that have been motivated by these findings. We …

Persistent link: https://www.econbiz.de/10005566184

Uncertainty and economic analysis of climate change : a survey of approaches and findings

Peterson, Sonja - Institut für Weltwirtschaft (IfW) - 2006

The analysis of climate change is confronted with large uncertainties that need to be taken into account to arrive at meaningful policy recommendations. The main contribution of economics to this interdisciplinary task is to provide formal frameworks and techniques for analyzing climate policy...

Persistent link: https://www.econbiz.de/10010955710

South African food security and climate change: Agriculture futures

Dube, Sikhalazo; Scholes, Robert J.; Nelson, Gerald C.; … - Institut für Weltwirtschaft (IfW) - 2013

The projected changes in planted area, yield per area, net exports/imports and priced for five major agricultural crops in South Africa were simulated using the projections of four Global Circulation Models (GCMs) under three socio-economic scenarios. The GCM runs were those undertaken for the...

Persistent link: https://www.econbiz.de/10010956135

The Contribution of Economics to the Analysis of Climate Change and Uncertainty: A Survey of Approaches and Findings

Peterson, Sonja - Institut für Weltwirtschaft (IfW) - 2004

There is a general agreement that (a) climate change is one of the most serious environmental problems, that (b) the analysis of climate change is confronted with a large degree of uncertainty and (c) that these uncertainties need to be taken into account to arrive at meaningful policy...

Persistent link: https://www.econbiz.de/10005818798

Modeling linkages between climate policy and land use: An Overview

Werf, Edwin van der; Peterson, Sonja - Institut für Weltwirtschaft (IfW) - 2007

Agriculture and forestry play an important role in emitting and storing greenhouse gases. For an efficient and cost-effective climate policy it is therefore important to explicitly include land use, land use change, and forestry (LULUCF) in economy-climate models. This paper gives an overview...

Persistent link: https://www.econbiz.de/10005700645

Feedback Trading and Predictability of Stock Returns in Germany, 1880-1913

Pierdzioch, Christian - Institut für Weltwirtschaft (IfW) - 2004

I use a time-varying parameter model in order to study the predictability of monthly real stock returns in Germany over the period 1880–1913. I find that the extent to which returns were predictable underwent significant changes over time. Specifically, predictability of returns, as measured...

Persistent link: https://www.econbiz.de/10005818851

Politics and the Stock Market ; Evidence from Germany

Döpke, Jörg; Pierdzioch, Christian - Institut für Weltwirtschaft (IfW) - 2004

We analyze the interaction of stock market movements and politics in Germany. In contrast to the empirical evidence available for the U.S., we do not find that German stock market returns tend to be higher during liberal than during conservative governments. Also in contrast to results for the...

Persistent link: https://www.econbiz.de/10005700518