This study readdresses the determinants of business cycle synchronisation. We test, on the one hand, whether FDI promoting policies may have consequences for the business cycle comovement between countries, and on the other hand, whether more plausible identification strategies change previous...

This paper focuses on two aspects being neglected in the analysis of agglomeration tendencies so far. First, it regards regional agglomeration patterns and secondly, the allocation of capital across industrial sectors. Indeed, the average relative concentration of capital turns out to be of a...

There is extreme heterogeneity of firms regulated under the European Emissions Trading Scheme (EU ETS) in terms of emissions evels and employed technology. We present a model that shows that behavior of firms under quantity regulation can differ strongly, dependent on the characteristics of the...

Der Beitrag untersucht, inwieweit hinter der oft konstatierten Investitionsschwäche der europäischen Wirtschaft eine Strukturverschiebung von materiellen zu immateriellen Investitionen steht. Da letztere nur zum Teil unter den Investitionsbegriff der Volkswirtschaftlichen Gesamtrechnung...

The change in the business model of venture capitalists from investing locally towards investing across borders started to intensify in the late 1990s. According to a dataset of European and North-American countries, we find that countries with higher expected growth and higher lagged stock...

Capital mobility is helpful to cope with the loss of adjustment instruments in EMU. High capital mobility in the sense of Feldstein and Horioka (FH) can limit the negative consequences of shocks affecting the saving capacity of an economy in the Eurozone. It is the aim of this paper to assess...