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, economic, and academic actors contribute to the creation and establishing of new fields of innovation. To this end, we will … compare two prominent cases in current innovation policy: biotechnology (specifically, genetic engineering) and the electric … of the innovation process must be extended. At this point, we cannot present final conclusions, since there is still a …
Persistent link: https://www.econbiz.de/10009520254
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Recent innovation literature has documented the benefits of cross-pollination of ideas across a wide set of industries …
Persistent link: https://www.econbiz.de/10012150167
within the Digital Layer. The firm-level innovation indicators in this study come from traditional sources (survey and patent …
Persistent link: https://www.econbiz.de/10012150751
Using data from large-scale establishment surveys in Britain and France, we show that incentive pay for non-managers is more widespread in France than in Britain. We explain this finding in terms of the "beneficial constraint" arising from stronger employment protection in France, which provides...
Persistent link: https://www.econbiz.de/10003868544
In this paper, we focus on the interconnectedness of banks and the price they pay for liquidity. We assess how the concentration of credit relationships and the position of a bank in the network topology of the system influence the bank’s ability to meet its liquidity demand. We use quarterly...
Persistent link: https://www.econbiz.de/10010238510
The pattern of financial linkages is important in many areas of banking and finance. Yet bilateral linkages are often unknown, and maximum entropy serves as the leading method for estimating unobserved counterparty exposures. This paper proposes an efficient alternative that combines...
Persistent link: https://www.econbiz.de/10010249740
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We study the liquidity allocation among European banks around the Lehman insolvency using a novel dataset of all interbank loans settled via the Eurosystem’s payment system TARGET2. Following the Lehman insolvency, lenders in the overnight segment become sensitive to counterparty...
Persistent link: https://www.econbiz.de/10010471923
When banks choose similar investment strategies, the financial system becomes vulnerable to common shocks. Banks decide about their investment strategy ex-ante based on a private belief about the state of the world and a social belief formed from observing the actions of peers. When the social...
Persistent link: https://www.econbiz.de/10010405430