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Following the ambiguous results in the literature aimed at understanding the empirical link between fiscal federalism and economic growth, this paper revisits the question using a Bayesian Model Averaging approach. The analysis suggests that the failure to appropriately account for model...
Persistent link: https://www.econbiz.de/10010957697
This paper examines return predictability when the investor is uncertain about the right state variables. A novel feature of the model averaging approach used in this paper is to account for finite-sample bias of the coefficients in the predictive regressions. Drawing on an extensive...
Persistent link: https://www.econbiz.de/10005098314
productivity but the combination of IT and decentralization does not yield a productivity premium. Contrarily, for the sample of … larger firms, the results show that the productivity of IT depends positively on decentralization. The findings suggest that …
Persistent link: https://www.econbiz.de/10010957612
Using a unique German firm-level data set, we provide empirical evidence for a productivity sorting along two …
Persistent link: https://www.econbiz.de/10010957613
linkages between the firm's R&D investment, product and process innovations, and future productivity and profits. The dynamic …&D investment. For the median productivity firm, investment in R&D raises firm value by 3.0 percent in a group of hightech … significantly affect R&D investment rates and productivity changes in the high-tech industries. …
Persistent link: https://www.econbiz.de/10010957646
the age structure of establishments on productivity using representative linked employeremployee panel data. We argue that … establishment age-productivity profiles might differ for various reasons. For example, the importance of physical strength and … possibilities to compensate deficits in skills differ between sectors. We investigate differences in the age-productivity profiles …
Persistent link: https://www.econbiz.de/10009323189
?intensive firms. Comparing the impacts on productivity and wage costs shows that ICT raise the profitability of training high …
Persistent link: https://www.econbiz.de/10005097535
deepening and innovation for productivity. We employ a model that takes into account that innovation and ICT use may be … productivity appears to be of the same order of magnitude in the two countries. However, the direct impacts of innovation on multi …-factor productivity seems to be more robust for Germany than for the Netherlands. …
Persistent link: https://www.econbiz.de/10005097585
estimates for an extended production function framework reveal significant productivity effects of ICT in the German service … productivity differentials between firms. …
Persistent link: https://www.econbiz.de/10005097592
manufacturing productivity growth. There is no strong evidence in the literature on the existence of such link. Our work, however … productivity using firm-level data. First, a broader definition of innovation input is used in which research and development is …
Persistent link: https://www.econbiz.de/10005097608