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This paper examines return predictability when the investor is uncertain about the right state variables. A novel feature of the model averaging approach used in this paper is to account for finite-sample bias of the coefficients in the predictive regressions. Drawing on an extensive...
Persistent link: https://www.econbiz.de/10003728591
innovative technology within this trajectory. As for the diffusion of SC, the paper concentrates on Germany, USA, China and Japan … has established a lead market for SC technology. In the meanwhile, Japan has surpassed the United States, although it … comparative advantages in terms of prices, demand and market structure, Japan has caught up in terms of transfer advantage and …
Persistent link: https://www.econbiz.de/10003745105
large economies, USA, United Kingdom, Germany, France and Japan. The empirical results show that although the pure NGARCH …
Persistent link: https://www.econbiz.de/10003670896
, Germany, Japan and the USA taking into account the different regulation schemes in these countries. We concentrate on …. In the meanwhile, Japan has surpassed the United States, although it started as a typical lag market. Japan has caught up … advantage of Japan mainly stems from its intensive R&D activities. It can also be observed that some other advantages – such as …
Persistent link: https://www.econbiz.de/10009658145
Persistent link: https://www.econbiz.de/10001945539
In a constantly changing economic environment a country's ability to undertake institutional reforms is crucial to maintain economic growth and to promote the welfare of its citizens. A wide range of determinants for institutional reforms have been identified. However, the impact of trust on...
Persistent link: https://www.econbiz.de/10003738748
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...
Persistent link: https://www.econbiz.de/10003738751
This paper treats the question to what extent globalization trends restrict a countryspecific regulation policy in industrial countries. The empirical analysis makes use of recently collected regulation indicators for four policy fields: financial market, product markets, labour markets and...
Persistent link: https://www.econbiz.de/10003301116
Währungsunion. Hintergrund für diese Erweiterung ist das in Deutschland, aber auch in manchen anderen EU-Staaten, zu beobachtende …
Persistent link: https://www.econbiz.de/10011441036
We analyze wage developments in the East German transition process both at the macro and at the microeconomic level. At the macroeconomic level, we draw special attention to the important distinction between product and consumption wages, describe the development of various wage measures, labor...
Persistent link: https://www.econbiz.de/10011443093