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Tests of representative firm models : results for German manufacturing industries

Koebel, Bertrand M. - 1996

estimate them on the basis of aggregate data. If firms' characteristics differs, the neglect heterogeneity can lead to … form and to explicitly take account of firm heterogeneity. Estimation for German manufacturing sectors confirms that ne …-glected heterogeneity is an important source of bias in representative agent models. …

Persistent link: https://www.econbiz.de/10011622104

Aggregation and the gravity equation

Redding, Stephen; Weinstein, David E. - 2019

Persistent link: https://www.econbiz.de/10011955393

Business services in Germany : bridges for innovation

Czarnitzki, Dirk - 2000

During the last 20 years, R&D and innovation activities in the service sector have clearly increased. Especially business services are believed to be one of the main drivers of technical changes and economic progress. Looking at the labour indices calculated over the period from 1982 to 1996 one...

Persistent link: https://www.econbiz.de/10013428353

Do R&D subsidies matter? : evidence for the German service sector

Czarnitzki, Dirk - 2001

In recent times the service sector is often called the driving force of today's economies. This paper analyses the innovative activities of German service firms. We investigate whether firms that receive public subsidies for innovation projects engage more in innovative activities than others....

Persistent link: https://www.econbiz.de/10013428401

Personal bankruptcy law, debt portfolios, and entrepreneurship

Mankart, Jochen; Rodano, Giacomo - 2015

Every year 400,000 entrepreneurs fail and 60,000 file for personal bankruptcy. The option to declare bankruptcy provides entrepreneurs with insurance against the financial consequences of business failures. However, it comes at the cost of worsened credit market conditions. In this paper, we...

Persistent link: https://www.econbiz.de/10011316589

Mean field games with singular controls

Fu, Guanxing; Horst, Ulrich - 2017

This paper establishes the existence of relaxed solutions to mean eld games (MFGs for short) with singular controls. As a by-product, we obtain an existence of relaxed solutions results for McKean-Vlasov stochastic singular control problems. Finally, we prove approximations of solutions results...

Persistent link: https://www.econbiz.de/10011626609

Demographics and the decline in firm entry : lessons from a life-cycle model

Röhe, Oke; Stähler, Nikolai - 2020

Since the mid-1970s, firm entry rates in the United States have declined significantly. This also holds for other OECD countries over the past years. At the same time, these economies experienced a gradual process of population aging. Applying a tractable life-cycle model with endogenous firm...

Persistent link: https://www.econbiz.de/10012180750

Monetary policy rules under bounded rationality

Dobrew, Michael; Gerke, Rafael; Kienzler, Daniel; … - 2023

We study the welfare performance of various simple monetary policy rules under bounded rationality (BR) along the lines of Gabaix (2020) in a New Keynesian model with sticky wages and an effective lower bound (ELB) on interest rates. Policy strategies with a strong history dependence lose their...

Persistent link: https://www.econbiz.de/10014320809

Re-allocating taxing rights and minimum tax rates in international profit taxation

Kempkes, Gerhard; Stähler, Nikolai - 2021

What are the macroeconomic implications of re-allocating taxing rights away from source countries (where goods are produced) to market countries (where goods are consumed) and introducing minimum rates in international profit taxation? We assess this question in a dynamic macroeconomic model...

Persistent link: https://www.econbiz.de/10012433663

Delegation and recruitment in organizations: The slippery slope to "bad" leadership

Çakır, Selcen; Matakos, Konstantinos; Tukiainen, Janne - 2022

We construct a dynamic model of two-sided sorting in labor markets with multi-dimensional agent and firm heterogeneity …

Persistent link: https://www.econbiz.de/10014551584