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The value of decentralization using the blockchain

Reuter, Marco - 2022

Although blockchain technology and cryptocurrencies have grown in popularity over the past years, there does not seem to be a consensus if they bring any value to economic interactions. In this paper, I argue that a fundamental value the blockchain provides is commitment. I develop a model of an...

Persistent link: https://www.econbiz.de/10013464278

Assessing Voluntary Commitments: Monitoring is Not Enough!

Böhringer, Christoph; Frondel, Manuel - 2002

This paper deals with a special type of voluntary approach to protect the environment, for example, that we would like to term voluntary commitment. Its major characteristic is that it represents a unilateral declaration without a decisively active role of regulators. In other words, voluntary...

Persistent link: https://www.econbiz.de/10010297279

Rejecting capital-skill complementarity at all costs

Frondel, Manuel; Schmidt, Christoph M. - 2001

Any serious empirical study of factor substitutability has to allow the data to display complementarity as well as … studies analyzing the relative capital-skill complementarity hypothesis formulated by GRILICHES (1969). According to this … explanation: Using a translog approach reduces the issue of factor substitutability or complementarity to a question of cost …

Persistent link: https://www.econbiz.de/10010297764

The empirical assessment of technology differences: comparing the comparable

Schmidt, Christoph M.; Frondel, Manuel - 2002

This paper compares technologies across space and time on the basis of factual and counterfactual substitution elasticities and argues that differences in estimated substitution elasticities should be decomposed into two counterfactual components. While the first component is designed to...

Persistent link: https://www.econbiz.de/10010297858

Does Innovation Stimulate Employment? A Firm-Level Analysis Using Comparable Micro-Data From Four European Countries

Harrison, Rupert; Jaumandreu Balanzo, Jordi; Mairesse, … - 2008

This paper studies the impact of process and product innovations introduced by firms on employment growth in these firms. A simple model that relates employment growth to process innovations and to the growth of sales separately due to innovative and unchanged products is developed and estimated...

Persistent link: https://www.econbiz.de/10010298693

Employment effects of innovations over the business cycle: Firm-level evidence from European countries

Dachs, Bernhard; Hud, Martin; Koehler, Christian; … - 2016

A growing literature investigates how firms' innovation input reacts to changes in the business cycle. However, so far there is no evidence whether there is cyclicality in the effects of innovation on firm performance as well. In this paper, we investigate the employment effects of innovations...

Persistent link: https://www.econbiz.de/10011562003

Innovation, creative destruction and structural change: Firm-level evidence from European Countries

Dachs, Bernhard; Hud, Martin; Koehler, Christian; … - 2016

The shift of employment from lower to higher productive firms is an important driver for structural change and industry dynamics. We investigate this reallocation in terms of employment gains and losses from innovation. New employment created by product innovation may be offset by employment...

Persistent link: https://www.econbiz.de/10011562004

Economic consequences of a sudden stop of energy imports: The case of natural gas in Germany

Krebs, Tom - 2022

This policy report studies the effects of a sudden stop of natural gas imports from Russia on the German economy. The analysis focuses on the supply-side effects that arise when a gas shortage affects production in the gas-intensive manufacturing sectors, with a corresponding production...

Persistent link: https://www.econbiz.de/10013364499

The fall and rise of market power in Europe

Weche Gelübcke, John P.; Wambach, Achim - 2018

This paper presents an analysis of the recent developments of average market power in Europe by using a broad firm-level database for EU member states. To indicate competitive pressure at the firm-level, markups are estimated following De Loecker (2011), and De Loecker and Warzynski (2012). The...

Persistent link: https://www.econbiz.de/10011783672

Rejecting capital-skill complementarity at all costs

Frondel, Manuel; Schmidt, Christoph M. - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2001

Persistent link: https://www.econbiz.de/10005097559