We discuss properties of alternatives or complements to GDP as a measure of welfare at business cycle frequencies. We argue that these figures are not useful to measure the welfare costs of business cycles. First, data is not available at an appropriate quality and frequency. Second, since the...

This paper uses several macroeconomic and financial indicators within a Markov Switching (MS) framework to predict the turning points of the business cycle. The presented model is applied to monthly German real-time data covering the recession and the recovery after the financial crisis. We show...

This paper attempts to fill a research gap of literature by constructing the dynamic model into which both ex ante and ex post patent value indicators are incorporated. A patent renewal model is tested using a large set of Pharmaceutical patents granted by the European Patent Office between 1996...

Seit 25 Jahren wird das Konzept der Nachhaltigkeit intensiv diskutiert. Die Leistung dieses Ansatzes liegt darin, dass ökonomische, soziale und ökologische Aspekte in einen Gesamtkontext gestellt werden. Mit ihnen werden die Dimensionen Wirtschaftlichkeit, soziale Sicherheit und...