In this paper we test for the gravitation of regulating return rates, namely those return rates yielded by capital goods incorporating the best methods of production. We define them within a vintage capital model taking into consideration capacity utilization, capital depreciation, and wages of...

The hypotheses of sectoral return rates on regulating capital either gravitating around or converging towards a common value is tested on data for various OECD countries by adopting two panel varying coefficient approaches. Our null hypotheses receive some empirical support, that turns out to be...

Romania has known in the last 20 years a deindustrialisation process (like other Eastern  European countries) firstly caused by a profound system crisis. And for the same 20 years, Romania seems like is running away from the idea of industrial policy. But there is nothing wrong with having an...

Romania has known in the last 20 years a deindustrialisation process (like other Eastern  European countries) firstly caused by a profound system crisis. And for the same 20 years, Romania seems like is running away from the idea of industrial policy. But there is nothing wrong with having an...

Romania has known in the last 20 years a deindustrialisation process (like other CEECs) firstly caused by a profound system crisis. And for the same 20 years, Romania seems like is running away from the idea of industrial policy. But there is nothing wrong with having an industrial policy. The...

Climate change related risks impact and challenge the private sector in many different ways. This also applies to risk drivers like a companies’ reputation and a changing consumer behavior. Since significant risk drivers for companies differ just as much as companies themselves, a sector...

We utilize county-level data to explore growth determination in the U.S. and possible heterogeneity in growth determination across individual states. The data includes over 3,000 cross-sectional observations and 39 demographic control variables. We use a consistent two stage least squares...

While the US experienced two successive labor productivity surges in 1995 and 2000, Germany's productivity declined dramatically during the same period. We examine the sources of Germany's productivity demise using the ifo industry growth accounting database that provides detailed industry-level...

This paper analyzes the efficiency of Czech small and medium enterprises. We use the data from 2002 to 2005 of thirty manufacturing industries, each divided into five subgroups according to the number of employees. We employ standard and advanced robust data envelopment analysis (DEA) to obtain...