This paper discusses a tool for optimization of econometric models based on genetic algorithms. First, we briefly describe the concept of this optimization technique. Then, we explain the design of a specifically developed algorithm and apply it to a difficult econometric problem, the...

Firms' labor demand responses to wage changes are of key interest in empirical research and policy analysis. However, despite extensive research, estimates of labor demand elasticities remain subject to considerable heterogeneity. In this paper, we conduct a comprehensive meta-regression...

This paper presents a political-economy analysis of allowance allocation in the EU Emissions Trading Scheme (EU ETS). A common-agency model suggests that a politicalsupport maximizing government considers the preferences of sectoral interest groups besides public interest when allocating...

We investigate the workforce heterogeneity of startups with respect to education, age and wages. Our explorative study uses data on the population of 1,614 Danish firms founded in 1998. We track these firms until 2001 which enables us to analyze changes in workforce composition over time. Such a...

This paper examines how productivity effects of human capital and innovation vary at different points of the conditional productivity distribution. Our analysis draws upon two large unbalanced panels of 6,634 enterprises in Germany and 14,586 enterprises in the Netherlands over the period...

Does heterogeneity in the educational backgrounds of the founders matter for firm success? Are team foundations more successful than single entrepreneurs? These questions are analysed using data on academic spinoffs in Germany. Firm success is measured by employment growth. I find that team...

In this paper it is tested which of the various alternative approaches for constructing knowledge spillover pools suggested in existing literature measures the extent to which a firm can costlessly receive external knowlegde best. Since knowledge spillovers are unmeasurable, a 'goodness of fit'...

Academic spin-offs are one way in which employability of university graduates is reflected. Using the ZEW spinoff-survey, this paper studies empirically the impact of human capital on the success of academic spinoffs founding in knowledge and technology intensive sectors. The focus is thereby on...

This paper compares different versions of the simulated counterparts of the Wald test, the score test, and the likelihood ratio test in the multiperiod multinomial probit model. Monte Carlo experiments show that the simple form of the simulated likelihood ratio test delivers the most favorable...

This paper focuses on finding starting-values for maximum likelihood estimation of Vector STAR models. Based on a Monte Carlo exercise, different procedures are evaluated. Their performance is assessed w.r.t. model fit and computational effort. I employ i) grid search algorithms, and ii)...