A model in which agents on both sides of the market are subject to informational cascades isexamined. In an uncertain environment with asymmetric information agents tend to beoveroptimistic about the state of the world, a result that fits with empirical evidence on financingnew technologies....

This paper examines the link between structural change between and within industries. We analyse the influence of sector specific developments in productivity and demand on net entry and employment in 19 industrial sectors of the Austrian economy. Based on the model of structural dynamics of...

In this paper we analyse the cognitive roots of the division of labour and relate it to the reduction of tacitness in the organisation and technology of a firm. We study the interaction between efforts of knowledge codification and problems of control in production from an evolutionary and...

Although there has been considerable research on firm-level technological capability building in the context of developing economies, there is a scarcity of studies which examine this issue in multinational enterprises socially motivated businesses located in less developed economies.This paper...

This study explores the influence of vulnerability on migration intentions within the context of Afghanistan. While it is commonplace to conceptualize migration as being driven by certain economic-related factors, it is reasonable to assume that in an insecure setting like Afghanistan the...

In a time of economic downturn and the recession in Europe, a migrants labour market position is even more precarious, and may influence their economic homeland engagement. Based on the IS Academy, Migration and Development A World in Motion Project survey data3, I focus on Afghan, Burundian,...

In a recent paper in The Journal of Monetary Economics, Michelacci and Zaffaroni (2000)estimate long memory parameters for GDP per capita of 16 OECD countries. In this note weargue that these estimations are questionable for the purposes of clarifying the time seriesproperties of these data...

We integrate two workhorse models in economics: The monopolistic competition model of Dixit and Stiglitz and the search unemployment model of Pissarides. Many results of the original models survive. New results concerning the effects of changes in labour (goods) market parameters on goods...

Based on the empirical findings achieved in a comparative research,involving 40 innovation policy instruments in 11 European regions, thispaper exposes the claim for a new innovation policy paradigm andproposes a shift in rationale and in broad orientations for innovationpolicy, addressing SMEs...

This paper investigates whether the inherent non-stationarity of macroeconomic time series is entirely due to a random walk or also to non-linear components. Applying the numerical tools of the analysis of dynamical systems to long time series for the United States, we reject the hypothesis that...