The system of banking supervision in Europe is undergoing substantial reforms. According to Stigler's capture theory regulation often follows the preferences of producers. Therefore, the interests of the…
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…
Contributions to Edited Volumes and Conference Proceedings
//
2002
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…
This paper derives a three-stage Cournot duopoly game for research cooperation, research expenditures, and product-market competition. The amount of knowledge firms can absorb is made dependent on their own…
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…
