This paper introduces a methodological innovation into Generational Accounting. By incorporating cyclically-adjusted balances into the forward-looking budget projections underlying the concept we isolate pure…
To make predictions with theories, usually we assume an individual's characteristics such as uncertainty preferences to be stable over time. In this paper, we analyze the stability of ambiguity preferences…
Endogeneity in network formation hinders the identification of the role that social networks play in generating spillovers, peer effects and other externalities. This paper tackles this problem and investigates…
While a widespread consensus exists among macroeconomists that the German labour market reforms in 2003-2005 have successfully contributed to the decline of the unemployment rate, critics claim that the reforms…
Patente sind oft wenig effektiv als Anreizmechanismus für Forschung und Entwicklung. Falls sequentielle Innovationsaktivitäten komplementär sind, vermögen Patente den technischen Fortschritt sogar zu bremsen…
For innovative start-ups, an effective patent system is a crucial factor for success and survival. The importance of patents for start-ups is based on two features. First, patents grant temporary monopoly rights…
