ZEW Discussion Papers

This paper compares different versions of the simulated counterparts of the Wald test, the score test, and the likelihood ratio test in the multiperiod multinomial probit model. Monte Carlo experiments show…

The ongoing discussion of U.S.-Japanese trade relations suggests that national differences such as in the institutional environment may be relevant for assessing international trade policies. However, economic…

This paper discusses a tool for optimization of econometric models based on genetic algorithms. First, we briefly describe the concept of this optimization technique. Then, we explain the design of a…

We analyse the effect of IMF and World Bank policies on the composite index of economic freedom by Gwartney et al. (2000) as well as its sub-indexes, using a panel of 85 countries observed between 1970 and 1997.…

In international politics, intergovernmental treaties provide the rules of the game. Similar to private law, treaty designers face a trade-off between flexibility to adjust to unforeseen contingencies and the…

I derive and estimate a model for cover price setting in print media markets where actors are faced by two interrelated demand curves: the demand for the print medium and the demand for advertising space.…

This paper deals with a special type of voluntary approach to protect the environment, for example, that we would like to term voluntary commitment. Its major characteristic is that it represents a unilateral…

The paper analyses the impact of venture capital finance on growth and innovation activities of young German firms. Among other variables, our panel of firm data includes data on venture capital funding and…