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Das vorliegende Diskussionspapier stellt den inhaltlichen Rahmen der kumulativen Dissertation zum Thema 'Climate Change and Corporate Innovation Processes' an der Technischen Universität Dresden dar. Diese besteht aus sechs bereits veröffentlichten Fachartikeln. Durch die gegenwärtig...
Persistent link: https://www.econbiz.de/10010291572
The paper considers the issue of whether a supranational fiscal policy in Europe is needed, and, if so what responsibilities it should undertake. The literature on endogenous growth and the principle of subsidiarity suggest that such a policy should be limited to externalities or economies of...
Persistent link: https://www.econbiz.de/10011506529
This paper reviews the accumulated theory and evidence on the sources of European underperformance in terms of economic growth and unemployment. It takes the view that the main problem lies with labor market institutions, ranging from negotiation structures to hiring and firing costs,...
Persistent link: https://www.econbiz.de/10011506530
Belgian industrial confidence indicator might precede the euro area business cycles. The initial purpose of this paper is to … industrial confidence indicators for Belgium and for the euro area, and the statistical significance of the differences in timing … fact significantly lead turning points in the euro area from 1993 onwards. The leading nature of the Belgian industrial …
Persistent link: https://www.econbiz.de/10011506534
This paper proposes a methodology to analyze the implications of the Advanced Measurement Approach (AMA) for the assessment of operational risk put forward by the Basel II Accord. The methodology relies on an integrated procedure for the construction of the distribution of aggregate losses,...
Persistent link: https://www.econbiz.de/10011506573
In this paper, we analyze wether the sensitivity of credit spread changes to financial and macroeconomic variables depends on bond characteristics such as rating and maturity. First, we estimate the term structure of credit spreads for different rating categories by applying an extension of the...
Persistent link: https://www.econbiz.de/10011506579
This paper estimates a DSGE model with many types of shocks and frictions for both the US and the euro area economy …
Persistent link: https://www.econbiz.de/10011506583
This paper documents patterns of price setting at the retail level in the euro area, summarized in six stylized facts …. First, the average euro area monthly frequency of price adjustment is 15 p.c., compared to about 25 p.c. in the US. Second … are not highly synchronized across retailers. Moreover, the frequency of price changes in the euro area is related to …
Persistent link: https://www.econbiz.de/10011506596
In the context of a first Working Paper the authors argued that electricity has a number of characteristics that set it apart from other commodities. It was demonstrated that some of these characteristics might complicate the deregulation process. This paper analyses the ongoing deregulation...
Persistent link: https://www.econbiz.de/10011506606
We present, extend and estimate a model of international trade with firm heterogeneity in the tradition of Melitz (2003) and Melitz and Ottaviano (2005). The model is constructed to yield testable implications for the dynamics of international prices, productivity levels and markups as functions...
Persistent link: https://www.econbiz.de/10011506613