The efficiency of the German economy is powered by its knowledge-intensive industrial and services sectors. Yet the use of knowledge capital to drive innovation and productivity in Germany is rather low compared to other European countries and the United States. Germany is clearly lagging...

Die Leistungsfähigkeit der deutschen Wirtschaft beruht auf ihren wissensintensiven Industrie- und Dienstleistungsunternehmen. Dennoch ist der Einsatz von Wissenskapital als wichtiger Treiber von Innovationen und Produktivität in Deutschland im Vergleich zu anderen europäischen Ländern und...

The recovery in private business investment globally remains extremely weak more than seven years after the financial crisis. This paper contributes to the ongoing policy debate on the factors behind this weakness by analyzing the role of growth prospects and uncertainty in explaining...

In Deutschland werden jährlich rund 200 Milliarden Euro in wissensbasiertes Kapital investiert, wie etwa Forschung und Entwicklung, Software und Datenbanken, Organisationskapital, Marketing und Werbung oder technisches Design. Deutlich mehr - über 320 Milliarden Euro - wird zwar immer noch in...

In Germany, around 200 billion euros are invested every year in knowledge-based capital, which encompasses assets such as research and development, software and databases, organizational capital, marketing and advertising, and technical design. Yet investments in traditional capital (such as...

We test the hypotheses that zombie firms are less productive and have lower employment growth and lower gross investment ratios than non-zombie firms in the same industry sector and that they are a source of contagion for the latter. Ever since Caballero et al. (2008), it has been taken for...

We present in this paper the panel econometrics estimation approach of measuring the technical change and total factor productivity (TFP) growth of 30 Chinese provinces during the period of 1993 to 2003. The random effects model with heteroscedastic variances has been used for the estimation of...

This paper attempts to test whether financial supply-side shifts explain the low-investment climate of private firms in Germany. The core contention is that a firm's financial position contributes to its access to external finance on credit markets. Special emphasizes is put on small and...

This paper argues that the production constraints in the basic NAIRU model should be distinguished by type: capital constraints and labour constraints. It notes the failure to incorporate this phenomenon in standard macro models. Using panel data for UK manufacturing over 80 quarters we show...

This paper argues that the production constraints in the basic NAIRU model should be distinguished by type: capital constraints and labour constraints. It notes the failure to incorporate this phenomenon in standard macro models. Using panel data for UK manufacturing over eighty quarters it is...