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…
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…
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…
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…
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…
Wie alle entwickelten Volkswirtschaften ist auch die deutsche Wirtschaft in den letzten Jahren von einem umfassenden Strukturwandel gekennzeichnet. Dienstleistungsbranchen gewinnen gegenüber den industriellen…
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…
Mit den im Steuervergünstigungsabbaugesetz vorgesehenen Steueränderungen soll im Wesentlichen durch mehr Steuergerechtigkeit und verbesserte Steuertransparenz die Akzeptanz der Besteuerung gefördert werden. …
