We analyze the spatial interaction among regions in North America and in Western Europe. We use a gravity model extended by a spatial correlation structures where data allows to evaluate the level of impact and the length of the spatial tail. This allows us to address to effects external to the...

In dem vorliegenden Papier wird untersucht, inwieweit Verbraucherschutz und der Informationsstand von Konsumenten einen Einfluss auf die Entwicklung einer Industrie haben. Hierzu wird das evolutorische Simulationsmodell von Winter (1984) um einen explizit modellierten Konsumsektor in Anlehnung...

The paper examines the economic role of market transparency on the decision problems of an international firm. Transparency is described in terms of the informativeness of a publicly observable signal. With higher transparency, the signal conveys more precise information about the random foreign...

Ziel des vorliegenden Diskussionspapiers ist es, einen Beitrag zur Verbesserung der Vergleichbarkeit der Schätzgüteergebnisse von Insolvenzprognosestudien zu leisten. Hierzu werden zunächst in der Literatur verwendete kategoriale, ordinale und kardinale Schätzgütemaße vorgestellt. Es wird...

Over the last decade, German multinationals created about two million jobs abroad with increasing foreign direct investment (FDI). While there are many reasons for firms to go multinational and probably just as many for Germany's high unemployment, this paper aims to investigate the relationship...

Basel II changes risk management in banks strongly. Internal rating procedures would lead one to expect that banks are changing over to active risk control. But, if risk management is no longer a simple "game against nature", if all agents involved are active players then a shift from a...

Within the prospect theory the paper examines production and hedging decisions of a competitive firm under price uncertainty. We consider the prospect theory for the firm's utility function in the two moment model known as (mu,sigma)-preference. In contrast to the literature our findings show...

This paper applies parametric and non-parametric and parametric tests to assess the efficiency of electricity distribution companies in Germany. We address traditional issues in electricity sector benchmarking, such as the role of scale effects and optimal utility size, as well as new evidence...

Mis-match of trade statistics between developed and developing countries indicate a substantial mis-invoicing of trade figures, primarily by developing country traders. This is due to the inflexible exchange rate regimes, severe import restrictions and export subsidies prevailing in LDCs. In...

We examine job creation and destruction in Eastern and Western Germany for the period of 1999 to 2004, using a large dataset, which enables us to capture clearly entries and exits. There are pronounced differences between the two parts of Germany in terms of magnitude and composition of gross...