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The Firms behind the Regions: Analysis of Regional Innovation Performance in Portugal by External Logistic Biplots
Noronha, Teresa de; Galindo, Purificación Vicente; … - Tinbergen Instituut - 2013
The strategic choices regarding innovation and R&D policy in Portugal have, over the last two decades, produced various … firms located throughout the country, and to explore those innovation determinants that have a region-specific connotation …. In our paper, innovation is used as a major contributor to the policy evaluation process referred to above. To provide a …
Persistent link: https://www.econbiz.de/10011255850
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Evolutionary Thinking in Environmental Economics
Bergh, Jeroen C.J.M. van den - Tinbergen Instituut - 2007
Evolutionary and environmental economics have a potentially close relationship. This paper reviews past and identifies potential applications of evolutionary concepts and methods to environmental economics. This covers a number of themes: resource use and ecosystem management; growth and...
Persistent link: https://www.econbiz.de/10011256552
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Gibrat's Law and the Firm Size / Firm Growth Relationship in Italian Services
Piergiovanni, R.; Santarelli, E.; Klomp, L.; Thurik, A.R. - Tinbergen Instituut - 2002
Several surveys on intra-industry dynamics have recently reached the conclusion from a large body of evidence that Gibrat's Law does not hold, i.e., the main finding is that firm growth decreases with firm size. However, almost all of these studies have been based on manufacturing. In this paper...
Persistent link: https://www.econbiz.de/10011256728
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Endogenous Technological Change under Uncertainty
Hek, Paul A. de - Tinbergen Instituut - 2002
How does risk or uncertainty in the productivity of research affect the growth rate of the economy? To answer this question, a model of endogenous technological change is used where sustained growth stems from intentional investments in R&D from profit-maximizing firms. The uncertainty arises...
Persistent link: https://www.econbiz.de/10011255608
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Uncertain Technological Change under Capital Mobility
Hek, Paul A. de - Tinbergen Instituut - 2005
The analysis in this paper shows that unpredictable variations in economic productivity may have a positive or negative effect on the average growth rate of output. This theoretical ambiguity result is not solely determined by the value of the elasticity of intertemporal substitution (of...
Persistent link: https://www.econbiz.de/10011256297
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Volatility Smirk as an Externality of Agency Conflict and Growing Debt
Jaskowski, Marcin; McAleer, Michael - Tinbergen Instituut - 2013
Since Black (1976), the source of the stock price volatility smirk has remained a controversy. The volatility smirk is a side effect of agency conflict. An important distinction is that the smirk occurs in the optimum, even after agency conflict has been resolved. The slope of the smirk is found...
Persistent link: https://www.econbiz.de/10011268659
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A Tourism Conditions Index
Chang, Chia-Lin; Hsu, Hui-Kuang; McAleer, Michael - Tinbergen Instituut - 2014
This paper uses monthly data from April 2005 to August 2013 for Taiwan to propose a novel tourism indicator, namely the Tourism Conditions Index (TCI). TCI accounts for the spillover weights based on the Granger causality test and estimates of the multivariate BEKK model for four TCI indicators...
Persistent link: https://www.econbiz.de/10011272578
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On the Invertibility of EGARCH
Martinet, Guillaume Gaetan; McAleer, Michael - Tinbergen Instituut - 2014
Of the two most widely estimated univariate asymmetric conditional volatility models, the exponential GARCH (or EGARCH) specification can capture asymmetry, which refers to the different effects on conditional volatility of positive and negative effects of equal magnitude, and leverage, which...
Persistent link: https://www.econbiz.de/10011272590
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On the Invertibility of EGARCH(p,q)
Martinet, Guillaume Gaetan; McAleer, Michael - Tinbergen Instituut - 2015
Of the two most widely estimated univariate asymmetric conditional volatility models, the exponential GARCH (or EGARCH) specification can capture asymmetry, which refers to the different effects on conditional volatility of positive and negative effects of equal magnitude, and leverage, which...
Persistent link: https://www.econbiz.de/10011272596
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A One Line Derivation of EGARCH
McAleer, Michael; Hafner, Christian M. - Tinbergen Instituut - 2014
One of the most popular univariate asymmetric conditional volatility models is the exponential GARCH (or EGARCH) specification. In addition to asymmetry, which captures the different effects on conditional volatility of positive and negative effects of equal magnitude, EGARCH can also...
Persistent link: https://www.econbiz.de/10011272605