"Empirical evidence suggests that the higher-order effects of natural disasters, which affect intangible assets, may be even more important than the material inter-industry effects. However, most existing general equilibrium models ignore higher order effects concerning human capital. Moreover,...

Existing wealth estimates show that in most countries intangible capital is the largest share of total wealth. Intangible capital is calculated as the difference between total wealth and tangible (produced and natural) capital. This paper uses new estimates of total wealth, natural capital, and...

With the disappearance of the bank secrecy and loss of e-commerce tax in year 2015, Luxembourg will be confronted to an existential challenge. Therefore, Luxembourgish economy has to reinvent itself and develop new key drivers boosting country's economic growth. Well known for the strong fund...