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A Schumpeter-inspired Approach to the Construction of R&D Capital Stock

A new method for constructing R&D capital stocks is proposed and tested. Following Schumpeter, the development of R&D capital stocks is modelled as a process of creative destruction. Newly generated knowledge is assumed not only to add to the existing R&D capital stocks but also, by displacing old knowledge, to destroy part of that capital. This is in stark contrast to the perpetual inventory method, ...

Budget Processes: Theory and Experimental Evidence

This paper studies budget processes, both theoretically and experimentally. We compare the outcomes of bottom-up and top-down budget processes. It is often presumed that a top-down budget process leads to a smaller overall budget than a bottom-up budget process. Ferejohn and Krehbiel [Ferejohn, J., Krehbiel, K., 1987. The budget process and the sizeof the budget, Amer. J. Polit. Sci. 31, 296-320] showed ...

Sustainability Impacts of Car Road Pricing: A Computable General Equilibrium Analysis for Austria

Nationwide car road pricing schemes are discussed across Europe. We analyse the impacts of such schemes with respect to environmental, economic and social indicators of sustainability, also quantifying the trade-offs among these three dimensions under different charging principles and revenue recycling options. In our analysis we employ a computable general equilibrium (CGE) approach, develop a modelling ...

Road Pricing in Britain

This paper outlines recent developments regarding road pricing in Britain. Given the widespread view that the London congestion pricing scheme has been a success, it was generally expected that road pricing would be more widely applied in Britain, and successive reports, including an official study for the Department for Transport, have examined the issue at a national level. However, implementation ...

Attitudes towards the Euro: An Empirical Study Based on the German Socio-Economic Panel (SOEP)

This paper investigates changing attitudes towards the euro over time in Germany using longitudinal micro-data from the German Socio Economic Panel Study. We observe that a large part of the German population was worried about the new currency both before and after its introduction. Social psychological theories provide insight into these attitudes. Concerns regarding the euro are apparently connected ...

A Macroeconometric Model for the Euro Economy

In this paper a structural macroeconometric model for the Euro area is presented. In contrast to the multi-country modelling approach, the model relies on aggregate data on the supra-national level. Due to non-stationarity, all equations are estimated in error correction form. The cointegrating relations are derived jointly with the short-run dynamics, avoiding the finite sample bias of the two-step ...

Dynamic Measures of Individual Deprivation

We introduce a one-parameter class of individual deprivation measures. Motivated by a suggestion of Runciman, we modify Yitzhaki's index by multiplying it by a function that is interpreted as measuring the part of deprivation generated byan agent's observation that others in his reference group move on to a higher level of income than himself. The parameter reflects the relative weight given to these ...

Ein Zehn-Punkte-Plan für eine nachhaltige Energiepolitik in Deutschland

Apply with Caution: Introducing UK-Style In-Work Support in Germany

Estimates of the labour supply effects of recent UK reforms in the area of direct taxes and benefits show that policy can have significant influence on the level of employment. We confirm this in a simulation of an in-work support system introduced into the German tax and benefit system. Our simulation results suggest that introducing in-work tax credits in Germany would increase the employment of ...

Sensitivity Analysis for Average Treatment Effects

Based on the conditional independence or unconfoundedness assumption,. - matching has become a popular approach to estimate average treatment. - effects. Checking the sensitivity of the estimated results with respect to deviations. - from this identifying assumption has become an increasingly important topic. - in the applied evaluation literature. If there are unobserved variables that affect. - assignment ...