The distinction between bank- and market-based economies has a long tradition in applied macroeconomics. The two types of financial architecture differ not only with respect to the amount of funds channelled through private banking versus the capital market but with respect to several other...

The aim of this paper is to investigate the differences between specific motives of R&D investment in foreign locations with respect to the factors influencing the likelihood of foreign R&D and to the impact of foreign presence on the parent firms' innovativeness and productivity. An econometric...

We assess empirically the vertical price transmission mechanism between producer and consumer prices of milk products in Austria using monthly data for the period from January 1996 to February 2010. We consider explicitly the existence of asymmetries in the adjustment to the long-run equilibrium...

Forecasts from dynamic factor models potentially benefit from refining the data set by eliminating uninformative series. The paper proposes to use forecast weights as provided by the factor model itself for this purpose. Monte Carlo simulations and an empirical application to forecasting euro...

Based on the empirical firm growth literature and on heterogeneous (microeconomic) adjustment models, this paper empirically investigates the impact of European industry fluctuations and domestic business cycles on the growth performance of European firms. Since the implementation of the Single...

Several empirical studies derive that personal positions with respect to policy measures are dominated by ideology instead of narrow self-interest. In the present field study we carried out a telephone survey with 1,003 respondents all over Austria. Instead of measuring selfishness indirectly by...

For nowcasting and short-term forecasting of industrial production and GDP, business surveys are a vital source of information. They cover information of the recent past as well as developments in the near future. Whereas variations in industrial production indices potentially cover weather...

This paper investigates the variation in entrepreneurship across cities of the Commonwealth of Independent States during 1995-2008, utilising a unique dataset and employing the System Generalised Method of Moments technique. Our findings suggest that banking reform facilitates entrepreneurship,...

This paper gives a selective overview on contributions studying issues of complexity, near-decomposability and modularity in relation to economic behaviour and the theory of the firm. In the first part the paper reviews contributions studying the relationship between human problem solving in the...

Does the low wage sector serve as a stepping stone towards integration into better-paid jobs or at least towards integration of jobless people into employment? There is evidence for a "low-wage trap" and for a high risk of low-wage earners to get unemployed, but this may also be due to sorting...