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Modeling fiscal sustainability in dynamic macro-panels with heterogenous effects : evidence from German federal states

Feld, Lars P.; Köhler, Ekkehard A.; Wolfinger, Julia - 2018

In this paper, we extend Henning Bohn's (2008) fiscal sustainability test by allowing for slope heterogeneity and cross-sectional dependence (CD). In particular, our econometric approach is the first that allows fiscal reaction functions (FRF) to capture unobserved heterogeneous effects from...

Persistent link: https://www.econbiz.de/10011814265

The German productivity paradox : facts and explanations

Elstner, Steffen; Feld, Lars P.; Schmidt, Christoph M. - 2018

Despite massive digitization efforts, the German economy has experienced a marked slowdown in its productivity growth. This paper analyzes the reasons behind this disconcerting development. A major factor is the turnaround of the labor market that commenced around 2005. The successful...

Persistent link: https://www.econbiz.de/10011897954

Innovation and spillovers : evidence from European regions

Bottazzi, Laura; Peri, Giovanni - 2000

The importance of innovation for the economic performance of industrialized countries has been largely stressed … innovation, is the key parameter in determining sustained growth in a model with endogenous technological change. This paper … takles the extremely important task of identifying and estimating a "production function" of innovation for European regions …

Persistent link: https://www.econbiz.de/10001546259

Immigration, trade and productivity in services : evidence from UK firms

Ottaviano, Gianmarco I. P.; Peri, Giovanni; Wright, Greg C. - 2015

Persistent link: https://www.econbiz.de/10011296898

Making judges independent : some proposals regarding the judiciary

Feld, Lars P.; Voigt, Stefan - 2004

It is argued that an independent judiciary is a necessary condition for both individual liberty and economic prosperity. After having surveyed the literature dealing with how to arrange for an independent judiciary, the authors derive some additional policy implications by drawing on two...

Persistent link: https://www.econbiz.de/10002258084

The economic value of cultural diversity : evidence from US cities

Ottaviano, Gianmarco I. P.; Peri, Giovanni - 2004

We use data on wages and rents in different U.S. cities to assess the amenity effects on production and consumption of cultural diversity as measured by diversity of countries of birth of city residents. We show that US-born citizens living in metropolitan areas where the share of foreign-born...

Persistent link: https://www.econbiz.de/10001988216

Strategic tax competition in Switzerland : evidence from a panel of the Swiss cantons

Feld, Lars P.; Reulier, Emmanuelle - 2005

Tax competition is discussed as a source of inefficiency in international taxation and in fiscal federalism. Two preconditions for the existence of such effects of tax competition are that mobile factors locate or reside in jurisdictions with ceteris paribus lower tax rates and that taxes are...

Persistent link: https://www.econbiz.de/10003084381

Deterrence and morale in taxation : an empirical analysis

Frey, Bruno S.; Feld, Lars P. - 2002

The standard model of tax evasion based on the subjective expected utility maximization does not perform particularly well in econometric analyses: it predicts too little evasion and produces unsatisfactory econometric parameter estimates. The model is extended by looking at how the tax...

Persistent link: https://www.econbiz.de/10001689348

Knowledge flows and knowledge externalities

Peri, Giovanni - 2002

of R&D. Our work analyzes knowledge diffusion and knowledge externalities in generating innovation and in determining … productivity of R&D resources in generating innovation (patenting) and productivity (TFP). While we find that knowledge diffusion …

Persistent link: https://www.econbiz.de/10001689358

Skills' substitutability and technological progress : US states 1950 - 1990

Ciccone, Antonio; Peri, Giovanni - 2003

In this article we estimate the long-run aggregate elasticity of substitution between skilled and unskilled workers. This is an important parameter as it allows us to compute the skill biased technological progress (SBTP) from the evolution of relative wages. However, it is hard to estimate...

Persistent link: https://www.econbiz.de/10001807110