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The Link Between Firms? Innovation Decision and the Business Cycle: An Empirical Analysis
Heger, Diana - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2004
The sensitivity of innovation activities with respect to the business cycle is often assumed to be small. In this paper … the hypothesis on cyclical dependence of innovation activities is tested for firms in the German manufacturing, and … additionally for SMEs. To this end firms? innovation decisions are considered. The decision to innovate in one period is modelled …
Persistent link: https://www.econbiz.de/10005097512
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Policy-induced environmental technology and incentive efforts: Is there a crowding out?
Hottenrott, Hanna; Rexhäuser, Sascha - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2013
or on the outcome of innovation projects. Likewise, for firms with subsidy-backed environmental innovations no crowding … innovation is a crucial productivity driver, a potential crowding out of inventive efforts could increase the cost of mitigating …. However, we do not find negative effects on the number of ongoing R&D projects, investments in innovation-related fixed assets …
Persistent link: https://www.econbiz.de/10010985640
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Pollution externalities in a Schumpeterian growth model
Koesler, Simon - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2010
This paper extends a standard Schumpeterian growth model to include an environmental dimension. Thereby, it explicitly links the pollution intensity of economic activity to technological progress. In a second step, it investigates the effect of pollution on economic growth under the assumption...
Persistent link: https://www.econbiz.de/10008646451
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South-North convergence from a new perspective
Hübler, Michael - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2013
This North-South model of Schumpeterian endogenous growth combines a market, productivity and knowledge effect. A set of various convergent and divergent growth paths is derived that is much richer than in the literature so far. South-North convergence based on North-South technology diffusion...
Persistent link: https://www.econbiz.de/10010985693
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Technology Use, Organisational Flexibility and Innovation: Evidence for Germany
Hempell, Thomas; Zwick, Thomas - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2005
This paper investigates to what extent the usage of information and communication technology (ICT) fosters innovation … that ICT use is associated with an increase in both types of flexibility but the implications for innovation activities … differ. Functional flexibility is strongly positively associated with product innovations. In contrast, numerical flexibility …
Persistent link: https://www.econbiz.de/10005097958
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Private Incentives to Innovate: Interplay of New Products and Brand-Name Reputation
Leheyda, Nina - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2008
This paper studies the introduction of new products (increase in product variety) in the automobile industry. The focus is on the two sources of market power that may allow the firms to get higher profits (and, thus, recoup investments): new products and brand-name reputation. The effects of new...
Persistent link: https://www.econbiz.de/10005098294
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A Critical Note on the Forecast Error Variance Decomposition
Seymen, Atilim - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2008
The paper questions the reasonability of using forecast error variance decompositions for assessing the role of different structural shocks in business cycle fluctuations. It is shown that the forecast error variance decomposition is related to a dubious definition of the business cycle. A...
Persistent link: https://www.econbiz.de/10005097587
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GDP mimicking portfolios and the cross-section of stock returns
Kroencke, Tim A.; Schindler, Felix; Sebastian, Steffen; … - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2013
The components of GDP (residential investment, durables, nondurables, equipment and software, and business structures) display a pronounced lead-lag structure. We investigate the implications of this lead-lag structure for the cross-section of asset returns. We find that the leading GDP...
Persistent link: https://www.econbiz.de/10010957652
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Industry structure and pricing over the business cycle
Spiegel, Yossi; Stahl, Konrad - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2014
We consider the interaction between an incumbent firm and a potential entrant, and examine how this interaction is affected by demand fluctuations. Our model gives rise to procyclical entry, prices, and price-cost margins, although the average price in the market can be countercyclical if the...
Persistent link: https://www.econbiz.de/10010957752
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A gains from trade perspective on macroeconomic fluctuations
Beaudry, Paul; Portier, Franck - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2012
Business cycles reflect changes over time in the amount of trade between individuals. In this paper we show that incorporating explicitly intra-temporal gains from trade between individuals into a macroeconomic model can provide new insight into the potential mechanisms driving economic...
Persistent link: https://www.econbiz.de/10009646597