ZEW Discussion Papers

Following the proposal of the World Bank in the end of the 1990s, a number of Central European countries have extended their pay-as-you-go pension systems by a capital-market-based element in the form of…

Given the substantial consolidation pressure in tax dependent government budgets, voluntary contributions play an increasing role in the financing of activities related to welfare, culture or education. There is…

This paper investigates two central questions. Are there long-term effects of regulation on innovation? Does the impact of different types of regulation differ by type of the environmental benefit of the…

Technological change is an important determinant of long-run productivity which is essential for securing competitiveness both at the firm-level and for the economy as a whole. Public authorities expect that…

During the last two decades, the issue of international cooperation in climate protection has received increasing attention in economic research. The main focus has been on the underlying economic incentives for…

The management of global environmental resources, such as the global climate, requires cooperation between countries. In practice, countries willing to abate the emission of a pollutant that damages a shared…

Export is an important factor for growth and welfare for small, open economies. Since R&D and innovation are also key factors of growth for an industrialized economy, it is interesting to analyze the…

The paper provides new evidence on the factors that explain stock returns on the emerging markets. It focuses on the largest and most developed of the Central and Eastern European markets, the Polish stock…

In most Western industrialised countries the workforce is ageing rapidly. If the productivity contributions of old workers are low, dealing with increasing shares of old employees could be decisive for the…