The interaction between trade liberalisation, product and process innovation, and relative skill demand is analysed in a model of international oligopoly. Lower trading barriers increase the degree of foreign competition. The competing enterprises respond by investing more aggressively in...

A meta-analysis explains the variation in estimated trade effects of technical barriersto trade broadly defined, using available estimates from the empirical international tradeliterature, and accounting for data sampling and methodology differences. Agriculture and foodindustries tend to be...

We derive a method to econometrically estimate the tariff equivalent and foregone trade effectsof a prohibitive technical barrier to trade (TBT) based on Wales and Woodland’s Kuhn-Tuckerapproach to corner solutions in consumer choice. The method overcomes the lack of observeddata on bilateral...

We study mean-variance hedging under portfolio constraints in a general semi-martingale model. The constraints are formulated via predictable correspondences,meaning that the trading strategy is restricted to lie in a closed convex set whichmay depend on the state and time in a predictable way....

We give an explicit PDE characterization for the solution of a robust utility maximization problem in an incomplete market model, whose volatility, interest rate process, and long-term trend are driven by an external stochastic factor process. The robust utility functional is defined in terms of...

The literature suggests that public research and development (R&D) subsidies mayreduce market failures affecting private R&D investment caused by incompleteappropriability of knowledge and financial constraints due capital marketimperfections. Drawing on the theory of investment under...

Do the short and medium term adjustment costs associated with trade liberalization influenceschooling and child labor decisions? We examine this question in the context of India's 1991tariff reforms. Overall, in the 1990s, rural India experienced a dramatic increase in schoolingand decline in...

Bereits 1970 betrug der Anteil des Leasings an den Investitionsfinanzie-rungen drei Prozent, heute sind es bereits 17 Prozent mit zunehmender Tendenz. Der größte Anteil entfällt auf Mobilien mit ca. 90 Prozent. Bei einer Umfrage zur künftigen Bedeutung von alternativen...

This study explores individual and country-level environmental drivers of informal “seed” investment. We examine four types of informal investors based on business ownership experience (or no such experience) and close family relationship with investee (or no such relationship): “classic love...

The paper analyses the impact of venture capital finance on growth and innovation activities of young German firms. Among other variables, our panel of firm data includes data on venture capital funding and patent applications. With statistical matching procedures we draw an adequate control...