This paper investigates the role intangible capital plays for economic growth in different sectors in Germany. It consists of two major parts. In the first part, we aim at measuring investment in intangibles at the sector level. We shed light on differences across sectors but also compare these...

During the 1980s foreign direct investment (FDI) expanded remarkably. Simultaneously, the regional structure of foreign direct investment changed. This relationship is discernible among industrial countries, as well as between industrial and developing countries. Of particular importance is the...

In the paper we describe in detail how to build linked CGE-microsimulation models (using fictitious data) following three main approaches: one in accordance with the fully integrated approach and the other two according to the layered approach - the so-called Top-Down and Top-Down/Bottom-Up...

We estimate the effects of R&D on firms' credit ratings and on financial distress. The main purpose is the comparison of firms in Western Germany and Eastern Germany as a transitional economy. Innovative activity has a positive impact on firm value proxied by ratings in Western Germany, but a...

The question whether agglomeration externalities arise either from specialization or diversification of economic activity has since long been a major topic in the analysis of factors determining economic growth. In this paper we analyze whether a more specialized or a more diverse skill...

Do private banks act as hard-nosed bankers when firms get financially distressed compared to public banks that have the mandate to support regional economy? For German firms in the period 2000-2005, I find that the probability of leaving the market after financial distress is higher for firms...