The classical Heckman (1976, 1979) selection correction estimator (heckit) is misspecified and inconsistent if an interaction of the outcome variable and an explanatory variable matters for selection. To address this specification problem, a full information maximum likelihood estimator and a...

The paper will present some estimates of the potential macro- and regionaleconomic effects for the German economy from hosting the football world cup 2006. The results have been prepared in the years 2000 and 2001 using the sport-economic simulation model SPORT (Ahlert 2001). The model has a...

The global dimension of environmental problems stresses the need of an internationally linked environmental environmental policy. The example of climate change policy shows, that environmental policy has to be a subject of a globally oriented international policy formulating operational targets...

In 2003 the Institute of Economic Structures Research (GWS mbH) has developed a tourism satellite account (TSA) for the Federal Republic of Germany relating to the year 2000.1 During the process of empirical compilation the Federal Statistical Office (as an external partner outside the GWS) has...

The Institute of Economic Structures Research (GWS mbH) has developed a tourism satellite account (TSA) for the Federal Republic of Germany relating to the year 2000.1 In the process of elaborating the TSA the Federal Statistical Office (as an external partner outside the GWS) has been fully...

INFORGE is a German interindustry forecasting model, that is based on the INFORUM philosophy. It has been used in a wide range of applications in the last years and is updated annually. The structure of the model is explained in detail. It contains an input-output module, an SNA and financial...

In 1999 the red/green administration in Germany induced an ecological tax reform, which burdens energy consumption and uses the tax revenue to reduce social security distributions. As in other countries the design of the taxation does not follow textbook considerations, but is marked by many...

We have combined a simple demographic model and the 58 sector econometric simulation and forecasting model INFORGE (Interindustry Forecasting Germany) which has been successfully used in different areas, e.g. modelling the effects of CO2 taxes and the liberalisation of the IT market on the...

Lecture on the first SFB/TR 15 meeting, Gummersbach, July, 18 - 20, 2004: We report results of an internet experiment designed to test the theory of informational cascades in financial markets (Avery and Zemsky, AER, 1998). More than 6400 subjects, including a subsample of 267 consultants from...

This paper analyzes the importance of equity finance for the R&D activity of small and medium-sized enterprises. We use information on almost 6000 German SMEs from a company survey. Using the intensity of banking competition at the district level as instrument to control for endogeneity, we find...