Using examples for each type of model, we consider dynamic games, differential games, and simulation as alternative ways of extending the standard static economic model of conflict to study patterns of conflict dynamics. It turns out that computational requirements and theoretical difficulties...

While most economists agree that the recent worldwide financial crises evolved as a consequence of the US house price bubble, the related literature yet failed to deliver a consensus on the question when exactly the bubble started developing. The estimates in the literature range in between 1997...

The recent U.S. house price bubble and the subsequent deep financial crisis have renewed the interest in reliable identification methods for asset price bubbles. While there is a growing number of studies focussing on the detection of U.S. regional bubbles, estimations of the likely starting...

The results of empirical research on whether media attention encourages terrorism differ according to the study period. The present contribution identifies which episodes from 1970 to 2010 are characterized by Granger-causalities. Structural breaks are systematically taken into account, and both...

How globalization affects happiness is highly disputed. Several studies use an index that amalgamates globalization’s different dimensions into a single variable. Unlike previous studies and in order to better illuminate its facets, we adopt a disaggregated perspective on trade (policy) data....

Successful innovation is a precondition for economic prosperity. While various potential determinants of innovative activity have been considered, little empirical evidence is yet available for the influence of firm governance issues. This paper aims at filling this gap in the literature by...

The paper elaborates the productivity paradox of information technology in order to find an answer to the question of why, contrary to expectations, the correlation between expenditures in information technology and economic growth is not ambiguous. To formulate an answer, the paper focuses on...

n.n.

We analyze the contribution of speculation to exchange rate volatility using different assumptions regarding speculation strategies and monetary policy rules. We take the DORNBUSCH (1976) model as the starting point and adopt a slight modification of the money demand specification. With a money...