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strategy amid a collegial approach to decision-making, while the Bank of England is using a collegial communication strategy … and highly individualistic decision-making. The ECB has chosen a collegial approach both in its communication and in its …
Persistent link: https://www.econbiz.de/10003014292
We use firm-level survey data from 25 EU countries to analyse how firms adjust their labour costs (employment, wages and hours) in response to shocks. We develop a theoretical model to understand how firms choose between different ways to adjust their labour costs. The basic intuition is that...
Persistent link: https://www.econbiz.de/10011997513
This paper aims at investigating the relationship between firms' profit efficiency, access to finance and innovation … efficiency in order to increase profitability. Among firms that have embarked in product innovation, those in the industry and … help to better understand the link between innovation, financial constraints and efficiency, which goes beyond the idea …
Persistent link: https://www.econbiz.de/10012241105
We provide the first cross-country evidence of the effect of investment by private equity firms on innovation, focusing … funds and insurance companies across countries and over time. We also control for the standard determinants of innovation … aggregate (private equity plus R&D) industrial spending, PE accounts for as much as 12% of industrial innovation. We also …
Persistent link: https://www.econbiz.de/10003867027
Using a comprehensive database of European firms, we study how private equity affects the rate of firm entry. We find that private equity investment benefits new business incorporation, especially in industries with naturally higher entry rates and R&D intensity. A two standard deviation...
Persistent link: https://www.econbiz.de/10003963732
Persistent link: https://www.econbiz.de/10010482485
suggests that whilst micro reforms boost innovation, macro reforms may appear negative. We test and find empirical support for …
Persistent link: https://www.econbiz.de/10012508542
We examine the extent to which environmental regulation affects innovation and which policy types provide the strongest … environmental technology innovation. At the firm-level, however, environmental policy tightening leads to higher innovation activity … in technologies mitigating climate change, while the effect on innovation in other technologies is muted. This suggests …
Persistent link: https://www.econbiz.de/10014558850
This paper investigates the in inflationary effects of fscal policy in an optimizing general equilibrium monetary model with capital accumulation, exible prices and wealth effects. The model is calibrated to Euro Area quarterly data. Simulation results show that government defcits, high debt...
Persistent link: https://www.econbiz.de/10009635879
Within a two-step GARCH framework we explore the linkages between equity returns of ten sectors in the euro area, the United States and Japan, respectively. Our estimation framework allows a distinction to be made between spillover effects originating from one of the three currency areas and...
Persistent link: https://www.econbiz.de/10009635881