Innovations contribute to economic growth. Hence, knowledge about drivers of innovation activities is a necessary input for economic policy making when it comes to implement targeted support measures. We focus on firms as potential drivers of innovation and use a novel data-driven approach to...

In impulse response analysis estimation uncertainty is typically displayed by constructing bands around estimated impulse response functions. These bands may be based on frequentist or Bayesian methods. If they are based on the joint distribution in the Bayesian framework or the joint asymptotic...

A combinatorical problem is said to be of high computational complexity, if it can be shown that every efficient algorithm needs a high amount of resources as measured in Computing time or storage capacity. This paper will (1) introduce some basic concepts of mathematical complexity theory; (2)...

In econometric modelling the choice of relevant variables is of crucial importance for the Interpretation of the results. In many cases it is based on some a priori knowledge from economic theory and a rather heuristic procedure for determining other influential variables sometimes based on an...

The closing of tax loopholes is one important instrument for fiscal consolidation. We concentrate on the value added tax exemption of banking services in Germany. The potential tax revenue under full value added taxation cannot be estimated from national accounting data, as it is necessary to...

In der vorliegenden Arbeit wird die vom Deutschen Institut für Wirtschaftsforschung in einem Gutachten vorgeschlagene ökologische Steuerreform einer kritischen Würdigung unterzogen. Die Untersuchung richtet sich zunächst auf das der positiven Analyse zugrundeliegende methodische Vorgehen und...

In den letzten Jahren wird die Rationierung von Krediten häufig als Ergebnis asymmetrischer Informationen zwischen Kreditgeber und -nehmer gesehen. Dabei kann es im Sinne der Gewinnmaximierung optimal sein, einen nicht markträumenden Zinssatz festzulegen. Die Vergabe von Krediten zu höheren...

Im Zuge der Analyse temporärer Ungleichgewichtssituationen wurde in den letzten Jahren auch der Kreditmarkt untersucht. Die Existenz von Kreditrationierung auf Mikromärkten wird dabei als das Ergebnis asymmetrischer Informationen zwischen Kreditgeber und -nehmer betrachtet. Dieser Aspekt wird...

Aggregation may be harmful but cannot always be avoided in the analysis of complex econometric models. It should be carried out intelligently by choosing ein aggregative model optimally for modes of aggregation speeified in advance, i.e. minimizing the bias introduced by aggregation and...

Over the last decade credit rationing has been regarded increasingly as the outcome of asymmetric Information. Profit maximization of the banks might lead to interest rates lower than the market equilibrium rate. Administering loans at a higher interest rate to the rationed customers will...