We study the effect of new product introduction on firm value. Using a unique sample on mobile phone handset introduction by 16 major handset manufacturers over 10 years, we distinguish between imitative product introduction and truly innovative product introduction. We find that while most...

Most existing empirical work on technology diffusion assumes technologies to remain constant throughout the diffusion process. However, many consumer technologies improve significantly over time. Using data on the characteristics of new mobile handsets over a ten-year period and controlling for...

The aim of the study is to quantify climate induced health risks for Germany. Based on high resolution climate scenarios for the period 2071 to 2100 we forecast the number of days with heat load and cold stress. The heat frequency and intensity increases overall but more in the south. Referring...

The present contribution tests whether countries can be pooled when studying the finance-growth nexus. Overall, our results point toward a 'pragmatic' positive answer, though considerable heterogeneity is present among developing countries.

The Grand Transition (GT) view claims that economic development is causal to institutional development, and that many institutional changes can be understood as transitions occurring at roughly the same level (zones) of development. The Primacy of Institutions (PoI) view claims that economic...

The paper looks at the global environment as a public good and as a sink for CO2-emissions. It discusses problems to be solved in institutional arrangements to protect global environmental media and looks at criteria for allocating the costs of emission reduction and emission rights. It analyzes...