In the last decade, many parts of the world experienced severe increases in agricultural land prices. This price surge, however, did not take place evenly in space and time. To better understand the spatial and temporal behavior of land prices, we employ a price diffusion model that combines features of market integration models and spatial econometric models. An application of this model to farmland ...
This paper tests whether intangible capital is a substitute or, to some degree, a complement to standard inputs in the production process. The analysis is conducted for public sectors in which governmental institutions are directly responsible for both, efficiently producing public goods as well as for the investment in new production factors. Knowing the substitutability of inputs is important for ...
Organizational capital (OC) is important for economic performance. To determine the impact on the economic development, it is necessary to measure investment in OC just as well as depreciation of OC. Here we take closer look on the team value as part of the intangibles in the field of organisation capital.
This paper sets out a framework for the analysis of public investments, tangible and intangible, at the level of detail needed for the economic analysis of impacts of public policies influencing economic growth. To do this, we broaden the concept of capital in the public sector from that which is mostly tangible (e.g. physical infrastructure) to that which also includes intangibles and long-lasting ...
Researchers have found plenty of evidence that profit rates vary considerably across industries, particularly in the service sector (or: particularly between manufacturing and sector sectors). We analyze the persistence and the determinants of rate of return differences among the sectors of the German economy. Our analysis proceeds in two stages. In the first stage, we investigate the persistence of ...
After 20 years of transition from an economy integrated in an exchange scheme of planned economies towards an open market economy based on the ideas of competition, we ask whether East German firms succeeded in finding their place in the international division of labour. We concentrate on the question, to what extent they have caught up with the productivity level of their Western counterparts of similar ...