Determining good parameter estimates in ESTAR models is known to be diffcult. We show that the phenomena of getting strongly biased estimators is a consequence of the so-called identifcation problem, the problem of properly distinguishing the transition function in relation to extreme parameter...

Previous research on optimal R& D subsidies has focussed on the long run. This paper characterizes the optimal time path of R& D subsidization in a semi- endogenous growth model, by exploiting a recently developed numerical method. Starting from the steady state under current R& D subsidization...

We examine the asymptotic behavior of unit root tests against nonlinear alternatives of the exponential smooth transition type if the data is erroneously nonlinearly transformed. We show analytically and by a Monte Carlo study that the probability of rejecting the correct null of a random walk...

While it is widely agreed that Purchasing Power Parity (PPP) holds as a long-run concept the specific dynamic driving the process is largely build upon a priori economic belief rather than a thorough statistical modeling procedure. The two prevailing time series models, i.e. the exponential...

Ökonomische Experimente sind eine bislang selten verwendete Forschungsmethode im Bereich der agrarpolitischen Analyse. Dieser Beitrag erörtert die Grundlagen von Experimenten, vergleicht sie mit anderen Forschungsmethoden und zeigt ein mögliches Anwendungsgebiet für die Agrarpolitikanalyse...

We present a detailed analysis of the patient and resource scheduling problem in rehabilitation hospitals. In practice, the predominantly therapeutical treatments and activities which are prescribed for the patients are typically scheduled manually. This leads to rigid and inefficient schedules...

This article investigates economic performance when enforceable property rights are missing and basic needs matter for consumption. It suggests a new view of the so-called voracity effect according to which windfall gains in productivity induce behavior that leads to lower economic growth....

We analyze the contribution of speculation to exchange rate volatility using different assumptions regarding speculation strategies and monetary policy rules. We take the DORNBUSCH (1976) model as the starting point and adopt a slight modification of the money demand specification. With a money...