U.S. banking crisis of the 20th century. Our systemic risk measure captures both the credit risk of an individual bank … as well as a bank's position in the network. We construct linkages between all U.S. commercial banks in 1929 and 1934 so … banking crisis that occurred between 1930-33 raised systemic risk per bank by 33% and increased the riskiness of the very …

externalities between the two countries arise from cross-border bank ownership. The two countries face (i) a regulatory decision of … contrast, bailout policies are centralized only when international spillovers from cross-border bank ownership are strong, and …

Bavarian State Government. The purpose of the initiative was to create a Bavarian-wide innovation network in support of state … the likelihood of innovation by a firm in the targeted industry by 4 to 7 percentage points. However, this effect is …

expensive and innovation investments that increase labor productivity are more profitable. We incorporate this channel in a new …

innovation accounts for a substantial portion of recent increases in U.S. life expectancy. Baker and Fugh-Berman claim that my … literature. Baker and Fugh-Berman express deep skepticism about my study's conclusion that medical innovation has played a very …

This paper studies the dynamic relationship between input and output of innovation in Dutch manufacturing using an … unbalanced panel of enterprise data from five waves of the Community Innovation Survey during 1994-2004. We estimate by maximum … persistence of innovation input and innovation output, a lag effect of the former on the latter and a feedback effect of the …

environmentally-related taxes and tradable permits is likely to lead to greater technological innovation than more direct forms of … aspects of product and labour market regulation which have implications for technological innovation, such as product and … workplace safety. -- environmental policy ; market fragmentation ; innovation : technology transfer …

innovative activity in traditional industries such as pulp and paper. -- incremental innovation, ICT investments, modernization …