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Stages of the 2007/2008 Global Financial Crisis Is There a Wandering Asset-Price Bubble?

Orlowski, Lucjan T. - Institut für Weltwirtschaft (IfW) - 2008

mortgage market; spillovers into broader credit market; the liquidity crisis epitomized by the fallout of Northern Rock, Bear … strongly by changeable allocations of global savings coupled with excessive credit creation, which lead to over-pricing of …, credit and liquidity risks. Monetary policy responses aimed at stabilizing financial markets are proposed. …

Persistent link: https://www.econbiz.de/10005083415

An Economic Assessment of Biogas Production and Land Use under the German Renewable Energy Source Act

Ruth Delzeit ; Britz, Wolfgang - Institut für Weltwirtschaft (IfW) - 2012

Abstract: The Renewable Energy Source Act (EEG) promotes German biogas production in order to substitute fossil fuels, protect the environment, and prevent climate change. As a consequence, green maize production has increased significantly over the last years, causing negative environmental...

Persistent link: https://www.econbiz.de/10010886844

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

DART-BIO: Modelling the interplay of food, feed and fuels in a global CGE model

Calzadilla, Alvaro; Delzeit, Ruth; Klepper, Gernot - Institut für Weltwirtschaft (IfW) - 2014

Land use and land use change are determined as much by economic and institutional drivers as they depend on bio-physical conditions. Future pathways of socio-economic and environmental systems can only be assessed with scenarios which describe possible future paths of development. For this...

Persistent link: https://www.econbiz.de/10010886906

Information stickiness in general equilibrium and endogenous cycles

Gomes, Orlando - Institut für Weltwirtschaft (IfW) - 2012

Traditionally, observed fluctuations in aggregate economic time series have been mainly modelled as being the result of exogenous disturbances. A better understanding of macroeconomic phenomena, however, surely requires looking directly at the relations between variables that may trigger...

Persistent link: https://www.econbiz.de/10010956107

Optimal rules for central bank interest rates subject to zero lower bound

Singh, Ajay Pratap; Nikolaou, Michael - Institut für Weltwirtschaft (IfW) - 2013

The celebrated Taylor rule provides a simple formula that aims to capture how the central bank interest rate is adjusted as a linear function of inflation and output gap. However, the rule does not take explicitly into account the zero lower bound on the interest rate. Prior studies on interest...

Persistent link: https://www.econbiz.de/10010956109

Bridging the gap between horizontal and vertical merger simulation: Modifications and extensions of PCAID

Bush, C. Anthony - Institut für Weltwirtschaft (IfW) - 2014

A general theoretical and empirical framework is developed for assessing the potential of a vertically integrated firm to foreclose downstream competitors. Using this framework a policymaker may also evaluate the empirical welfare effects from a vertically integrated firm raising rivals' costs....

Persistent link: https://www.econbiz.de/10010956119

Annual Educational Attainment Estimates for US Counties 1990-2005

Bode, Eckhardt - Institut für Weltwirtschaft (IfW) - 2010

This paper estimates annual data on educational attainment for 3,076 mainland U.S. counties 1991 -- 2005. Being estimated without resorting to ancillary information, this data is suited particular well for panel regression analyses. Several plausibility checks indicate that the data is fairly...

Persistent link: https://www.econbiz.de/10008740517

Alan Greenspan, the quants and stochastic optimal control

Stein, Jerome L. - Institut für Weltwirtschaft (IfW) - 2010

Alan Greenspan's paper (March 2010) presents his retrospective view of the crisis. His theme has several parts. First, the housing price bubble, its subsequent collapse and the financial crisis were not predicted either by the market, the FED, the IMF or the regulators in the years leading to...

Persistent link: https://www.econbiz.de/10008543004

Measuring the Benefit-Cost Ratio of Public IPM Technology Transfer Programs: An Optimal Control Framework and an Application to Nepalese Agriculture

Wiebelt, Manfred - Institut für Weltwirtschaft (IfW) - 2000

Despite favourable ecological and economic results, many developing countries have not yet adopted an integrated pesticide management (IPM). Given rising marginal costs and diminishing marginal benefits from IPM technology transfer, an optimal control framework is used to identify optimal rates...

Persistent link: https://www.econbiz.de/10005700590