This paper offers two innovations for empirical growth research. First, the paper discusses principal components augmented regressions to take into account all available information in well-behaved regressions. Second, the paper proposes a frequentist model averaging framework as an alternative...

Regressions and tests performed on data from Transparency International Global Corruption Barometer (GCB) 2004 survey show that personal or household experience of bribery is not a good predictor of perceptions held about corruption among the general population. In contrast, perceptions about...

In this note we show that tax-rate elasticities of Foreign Direct Investment (FDI) to Central and East European Countries (CEECs) derived from statutory corporate income tax rates (STRs) are likely to be flawed. From a conceptual point of view STRs are problematic as they neither capture tax...

This paper examines the consequences of using "real-time" data for business cycle analysis in Germany based on a novel data set covering quarterly real output data from 1968 to 2001. Real-time output gaps are calculated. They differ considerably from their counterparts based on the most recent...

The paper provides an axiomatic characterization of dynamic risk measures for multi-period financial positions. For the special case of a terminal cash flow, we require that risk depends on its conditional distribution only. We prove a representation theorem for dynamic risk measures and...

The Risk Adjustment Reform Act of 2001 mandates that a health-status-based risk adjustment mechanism has to be implemented in Germany's Statutory Health Insurance system by January 1, 2007. German parliament decided this as with the existing demographic risk adjustment model, that means there is...

In der Literatur gibt es bislang nur eine sehr geringe Anzahl von Ausarbeitungen, die sich mit dem Thema Promotioneffizienz beschäftigen, die darüber hinaus größtenteils auch nur von geringer Aktualität ist. Daher liegt neben der theoretischen Einleitung in das Thema Verkaufsförderung der...

Im Rahmen der (hochschul-)politischen Diskussion über die Unterschiede zwischen Universitäten und Fachhochschulen werden letzteren häufig zwei Defizite vorgehalten: - Eine geringere Wissenschaftlichkeit der Ausbildung und - ein Defizit in der Forschungstätigkeit. Vergleichsweise neu in...