ZEW Discussion Papers

Overview

Researchers at the ZEW participate in scientific debates by publishing their papers. The papers are predominantly in English (marked). For the German papers an English abstract is available. The contributions are intended for a final publication in special interest titles. The discussion papers can be downloaded as PDF or PostScript files starting from 1.1.1998. They aimed at national and international target groups.

  1. ZEW Discussion Paper No. 03-11 // 2003

    Systemic Risk in European Banking - Evidence from Bivariate GARCH Models

    This paper attempts to assess the Europe-wide systemic risk in banking. We employ a bivariate GARCH model to estimate conditional correlations between European bank stock indices. These correlations are used as…

  2. ZEW Discussion Paper No. 03-08 // 2003

    On the Design of Optimal Grandfathering Schemes for Emission Allowances

    To meet its commitment under the Kyoto Protocol, the EU plans to implement an emissions trading system with grandfathering of allowances. Besides having distributional impacts, the choice of the grandfathering…

  3. ZEW Discussion Paper No. 03-07 // 2003

    The Link Between Firm-Level Innovation and Aggregate Productivity Growth A Cross-Country Examination

    This paper investigates whether failure in innovation at the firm level can account for cross-country heterogeneity in manufacturing productivity growth. There is no strong evidence in the literature on the…

  4. ZEW Discussion Paper No. 03-06 // 2003

    Dynamic Optimal Capital Structure and Technological Change

    This paper incorporates the cost of adjustment between observed and optimal leverage in explaining the variation in firm’s equity or bank-debt financing investments. Using a dynamic adjustment approach…

  5. ZEW Discussion Paper No. 03-04 // 2003

    IT Capital, Job Content and Educational Attainment

    Based on a large data set containing information on occupations between 1979 and 1999, this study explores the “black box” surrounding the skill–biased technological change hypothesis by analyzing the mechanisms…

  6. ZEW Discussion Paper No. 03-01 // 2003

    Lead Markets of Environmental Innovations: A Framework for Innovation and Environmental Economics

    Environmental regulations often want to stimulate the generation and adoption of ecoefficient innovations. An important argument in the public debate is also the creation of new markets for environmentally…

  7. ZEW Discussion Paper No. 03-31 // 2003

    Welfare Analysis of Fiscal Reforms: Does the Representation of the Family Decision Process Matter? Evidence for Germany

    This paper compares predictions obtained for the analysis of tax reforms with collective and unitary models of household labour supply and consumption behaviour. We simulate real world microdata by means of a…

  8. ZEW Discussion Paper No. 03-03 // 2003

    How Do Banking Supervisors Deal with Europe-wide Systemic Risk?

    The systemic risk potential in the European banking market has increased. Hence, the following questions emerge: Is there a need for a truly European supervisory framework? And, how should a potential European…

  9. ZEW Discussion Paper No. 03-72 // 2003

    Bankruptcy and Voluntary Liquidation: Evidence for New Firms in East and West Germany after Unification

    Exploiting the unique economic situation after German unification, I investigate how exit decisions deviate between new firms in a transition and a comparatively stable market environment. Two competing exit…

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