This paper investigates the role intangible capital plays for economic growth in different sectors in Germany. It consists of two major parts. In the first part, we aim at measuring investment in intangibles at…
While liberalization in energy markets has been a widely successful process all over the world, incumbents often still hold a dominant position. Thus, electricity wholesale markets are subject to market…
We consider the interaction between an incumbent firm and a potential entrant, and examine how this interaction is affected by demand fluctuations. Our model gives rise to procyclical entry, prices, and…
