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Modeling and explaining the dynamics of European Union allowance prices at high-frequency
Conrad, Christian; Rittler, Daniel; Rotfuß, Waldemar - 2010
at high-frequency controlling for intraday periodicity, volatility clustering and volatility persistence. We find that …
Persistent link: https://www.econbiz.de/10003977656
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A mean variance king? : creation and resolution of uncertainty under the employment report's reign
Hautsch, Nikolaus; Hess, Dieter - 2001
differences of opinion is left, and hence volatility is decreased. …
Persistent link: https://www.econbiz.de/10011446937
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Return and volatility reactions to monthly announcements of business cycle forecasts : an event study based on high-frequency data
Entorf, Horst; Groß, Anne; Steiner, Christian - 2009
for Germany, i.e. the ifo Business Climate Index and the ZEW Indicator of Economic Sentiment. From the methodological …. Announcements of both institutes are also clearly and immediately reflected in the volatility, which remains at a significantly … higher level for approximately two minutes slightly elevated for approximately 15 minutes. Combining returns and volatility …
Persistent link: https://www.econbiz.de/10003814068
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The behaviour of noise traders : empirical evidence on purchases of business magazines
Czarnitzki, Dirk; Stadtmann, Georg - 2000
According to the prospect theory financial investors tend to sell winners too early and ride losers too long. Therefore, demand for financial advise should be high in a bull market and low in a bear market. Thus, we test the hypothesis whether the demand for business magazines is somehow related...
Persistent link: https://www.econbiz.de/10011445202
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The European Commission and EUA prices : a high-frequency analysis of the EC's decisions on second NAPs
Rotfuß, Waldemar; Conrad, Christian; Rittler, Daniel - 2009
This paper empirically examines price formation in the European Union Emissions Trading Scheme (EU ETS). Our analysis shows that unexpected allocations of European Union Allowances (EUAs) lead to pronounced price reactions of the expected signs. Moreover, we find evidence that the adjustment of...
Persistent link: https://www.econbiz.de/10003875267
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An empirical analysis of the effects of patents and secrecy on knowledge spillovers
Schmidt, Tobias (contributor) - 2006
Theoretical considerations suggest that secrecy reduces spillovers almost completely through non-disclosure, while the disclosure requirement of patents generates some spillover and at the same time allows firms to appropriate knowledge. In this paper we empirically analyze whether protection by...
Persistent link: https://www.econbiz.de/10003356987
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Do spillovers stimulate incremental or drastic product innovations? : Hypotheses and evidence from German establishment data
Jirjahn, Uwe (contributor); Kraft, Kornelius (contributor) - 2006
We estimate the determinants of various types of product innovation. Knowledge spillovers from rivals have a positive impact on incremental innovations. This impact is largely independent of the participation in R&D cooperations. Spillovers exert no such independent influence on drastic...
Persistent link: https://www.econbiz.de/10003319674
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R&D cooperation and R&D intensity : theory and micro-econometric evidence for german manufacturing industries
Kaiser, Ulrich; Licht, Georg - 1998
This paper develops a three stage oligopoly game for R&D cooperation, R&D expenditure and product market competition. In the first stage, firms decide whether or not to conduct R&D in cooperation with other firms. In the second stage the level of R&D investment is determined. Finally, firms...
Persistent link: https://www.econbiz.de/10011441694
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Public research and industrial innovations in Germany
Beise, Marian; Stahl, Harald - 1998
on industrial innovations in Germany. We discuss the characteristics of companies that benefit from the findings of … of received knowledge spillovers, we found no higher probability of publicly supported innovations for firms in Germany …
Persistent link: https://www.econbiz.de/10011441735
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Measuring knowledge spillovers in manufacturing and services : an empirical assessment of alternative approaches
Kaiser, Ulrich - 1999
In this paper it is tested which of the various alternative approaches for constructing knowledge spillover pools suggested in existing literature measures the extent to which a firm can costlessly receive external knowlegde best. Since knowledge spillovers are unmeasurable, a 'goodness of fit'...
Persistent link: https://www.econbiz.de/10011443497