Previous research on optimal R&D subsidies has focussed on the long run.This paper characterizes the optimal time path of R&D subsidization in a semi-endogenous growth model, by exploiting a recently developed numerical method.Starting from the steady state under current R&D subsidization in the...

We analyze the cross-national distribution of GDP per capita and its evolutionfrom 1970 to 2003. We argue that peaks are not a suitable measure for distinctgrowth regimes, because the number of peaks is not invariant under strictlymonotonic transformations of the data (e.g. original vs. log...

The global hunger indices of 2008 and 2009 (Grebmer et al. 2008, 2009) point to persistently high levels of hunger and food insecurity and a worsening of the situation due to rising crop prices. At the same time, there is a lack of empirical knowledge on the demand- and supply-side determinants...

We propose a simple and powerful method for determining the transition processin continuous-time DSGE models under Poisson uncertainty numerically. The idea isto transform the system of stochastic dierential equations into a system of functionaldierential equations of the retarded type. We then...

Randomization has emerged as preferred empirical strategy for researchers in a variety of fieldsover the past years. While the advantages of RCTs in terms of identification are obvious, thestatistical analysis of experimental data is not without challenges. In this paper we focus onmultiple...

Als Teil des operationellen Risikos stellt das Modellrisiko eine wichtige Komponente f¨urdie Risikoermittlung bei Finanzinstitutionen dar. Da letztere z.B. bei der Tarifierung undBepreisung von Derivaten bzw. Portfolien oder bei der Markt- und Kreditrisikoberechnungauf stochastische Modelle...

This paper introduces the Small World model (Watts and Strogatz, Nature,1998) into the theory of economic growth and investigates how increasing economic integrationaects rm size and effciency, norm enforcement, and aggregate economic performance.When economic integration is low and local...

This paper proposes a model of urban agglomeration in conjunction withimperfect competition and endogenous product R&D of firms. The qualityof differentiated manufacturing goods is a result of R&D services providedby research firms. Sectoral interactions are subject to spatially...

This paper gives an overview of different methodologies related to value chain analysis in thecontext of environment and trade research. Four major fields of methodologies are identified:Accounting of input-output flows, general equilibrium models, econometrics, and globalcommodity chain...

We develop a Wald type test to distinguish between long memory and ESTARnonlinearity by using a directed-Wald statistic to overcome the problem of restricted parametersunder the alternative. The test is derived from two basic model specificationswhere the first is the standard model based on an...