This paper analyzes the magnitude of local knowledge spillovers of public R&D in Germany and its determinants using patent application data. We identify three distinct transmission channels. First, firms file more patent applications when collaborating with (local) public institutions. Second, firms file more patent applications when citing a public patent. Third, local public R&D seems to increase ...
We examine the effect of local business taxation and local public good and service (PIGS) provision on the number and spatial distribution of new firms. Testing ground is Germany and we rely on the universe of firm foundations between 1998 and 2006. Methodologically, we estimate fixed effects poisson models coupled with a control function approach. The results suggest that a 1%-decrease in the business ...
This article summarises the key findings from a counterfactual exercise where the effect of removing repo assets from the leverage ratio on banks’ default probabilities is considered. The findings suggest that granting such an exemption may have adverse effects on the stability of the financial system, even when measures are introduced to compensate for the decline in capital required by the leverage ...
Mit einem 750-Milliarden-Euro-Fonds will sich die EU für die Zukunft rüsten. Für die Bundesrepublik ist die Einigung ein Glücksfall - denn das deutsche Wirtschaftsmodell funktioniert nur in einem starken Europa. Der EU-Gipfel ist ein größerer Erfolg, als er von vielen wahrgenommen wird - denn die Marathonverhandlungen und der heftige Streit zwischen den Regierungschefs ...
Die Ergebnisse des EU-Gipfels kommentiert Marcel Fratzscher, Präsident des Deutschen Instituts für Wirtschaftsforschung (DIW Berlin), wie folgt:
