The search for new ideas by profit-seeking firms and knowledge spillovers are well-known and fundamental sources of modern economic growth. This paper examines the implications of idea production and knowledge capital for monetary business cycles. We construct a sticky-wage model where workers...

Once again the economic experts are telling us that the current (October 2008) financial “crisis” will lead to a deep recession or depression. The financial press is even claiming that we are headed for “global meltdown”. Heard it all before? The last time was in 1998 when we were told...

This paper explores the interrelation between the degree of unemployment persistence and the unemployment-productivity trade-off. The analysis suggests that the more effective are structural labour market policies (designed to change labour market institutions and laws, such as job security...

Identifying business cycle stylised facts is essential as these often form the basis for the construction and validation of theoretical business cycle models. Furthermore, understanding the cyclical patterns in economic activity, and their causes, is important to the decisions of both...

This study evaluated the relationship between inflation and infrastructure sector stock returns in emerging markets in the long and short run. It employed a panel autoregressive distributed lag (PARDL) model applying the mean group (MG), pooled mean group (PMG) and dynamic fixed effects (DFE)...

When learning two languages of the same language family, one will realize quickly that there are similarities. But how deep are language and culture related? For long time the hypothesis that languages are responsible for cultural development was held to be true, later the opposite was assumed,...

Der vorliegende Aufsatz untersucht die Ursachen von Finanzmarktkrisen anhand entsprechender Vorkommnisse in Thailand, Mexiko und Tschechien, um risikoreiche Konstellationen für Emerging Markets zu identifizieren. Als Modell wurde der Ansatz von Sachs/Tornell/Velasco (1996) gewählt, der durch...

One of the most serious weaknesses of the human development index (HDI) is that it considers only average achievements and does not take into account the distribution of human development within a country or by population subgroups. All previous attempts to capture inequality in the HDI have...

Die detaillierte Untersuchung von Unternehmensagglomerationen bzw. der räumlichen Ballung von Produktionsaktivitäten war ein wesentliches Analyseziel des Forschungsprojekts 'Die Bedeutung von Innovationsclustern, sektoralen und regionalen Innovationssystemen zur Stärkung der globalen...