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Nonlinearities in Sovereign Risk Pricing : The Role of CDS Index Contracts
Delatte, Anne-Laure - 2014
Is the pricing of sovereign risk linear during bearish episodes? Or can initial shocks on economic fundamentals be exacerbated by endogenous factors that create nonlinearities? We test for nonlinearities in the sovereign bond market of European peripheral countries during the debt crisis and...
Persistent link: https://www.econbiz.de/10012458679
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Innovation and Welfare : Results from Joint Estimation of Production and Demand Functions
Jaumandreu, Jordi - 2010
that the total current period (static) welfare gains of introducing a process or a product innovation are, on average …
Persistent link: https://www.econbiz.de/10012462434
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Does Innovation Stimulate Employment? A Firm-Level Analysis Using Comparable Micro-Data from Four European Countries
Harrison, Rupert - 2008
This paper studies the impact of process and product innovations introduced by firms on employment growth in these firms. A simple model that relates employment growth to process innovations and to the growth of sales separately due to innovative and unchanged products is developed and estimated...
Persistent link: https://www.econbiz.de/10012464431
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Innovation and Productivity across Four European Countries
Griffith, Rachel - 2006
This paper compares the role innovation plays in productivity across the four European countries France, Germany, Spain … and the UK using firm-level data from the internationally harmonized Community Innovation Surveys (CIS3). Despite a … still rare. We apply a structural model that describes the link between R&D expenditure, innovation output and productivity …
Persistent link: https://www.econbiz.de/10012465938