In a recent paper in The Journal of Monetary Economics, Michelacci and Zaffaroni (2000)estimate long memory parameters for GDP per capita of 16 OECD countries. In this note weargue that these estimations are questionable for the purposes of clarifying the time seriesproperties of these data...

This paper investigates the role of intellectual property rights (IPRs) in shaping the GSM industry. Thisindustry is an example of a high-tech industry in which standards play a large role. In the process ofdesigning the GSM standard, a lot of attention has been given to IPRs, mainly to avoid a...

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This paper examines the phenomenon of home base augmenting (HBA) R&D and home base exploiting (HBE) R&D. It has three novelties. First, we argue that any given R&D facility’s capacity to exploit and/or augment technological competences is a function not just of its own resources, but the...

Using data from the 1997 Skills Survey of the Employed BritishWorkforce, we examine the returns to computer skills in Britain.Many researchers, using information on computer use, have concludedthat wage differentials between computer users and non-users might,among others, be due to differences...

We integrate two workhorse models in economics: The monopolistic competition model of Dixit and Stiglitz and the search unemployment model of Pissarides. Many results of the original models survive. New results concerning the effects of changes in labour (goods) market parameters on goods...

Based on the empirical findings achieved in a comparative research,involving 40 innovation policy instruments in 11 European regions, thispaper exposes the claim for a new innovation policy paradigm andproposes a shift in rationale and in broad orientations for innovationpolicy, addressing SMEs...

This paper investigates whether the inherent non-stationarity of macroeconomic time series is entirely due to a random walk or also to non-linear components. Applying the numerical tools of the analysis of dynamical systems to long time series for the United States, we reject the hypothesis that...

This paper is a preliminary attempt to map the changing tastes for works of art as manifested in the prices of paintings sold at auction. There are two main goals in this work: first, to describe a space in which we can represent the work of different artists; and second, to describe how...

This paper models price movements in the market for fine art. Consumers of art are assumed to value art for its own sake, but are also subject to externalities in consumption whereby the utility of consuming the work of a painter is affected by the consumption choices of other consumers of art....