Using a firm-level panel data set I assess whether dynamic models of investment provide an empirically fruitful framework for analyzing tax effects on changes in capital stock. In particular I estimate a one-step error correction model (ECM) complementing the usual estimation of a distributed lag model. A correction term accounts for non-random sample attrition, which has not been considered in previous ...
Die globale Wirtschaftskrise hat zu einem massiven Einbruch des Welthandels geführt, der sogar den Rückgang während der Großen Depression zu Beginn der 30er Jahre überstieg. Davon ist die stark auf den Export orientierte deutsche Industrie besonders betroffen. Zudem ist sie aufgrund des hohen Anteils von Investitionsgütern sehr konjunkturempfindlich. Die Produktion wird in diesem Jahr um etwa 18 Prozent ...
The global financial crisis and the dramatic slump in private capital flows associated with it has particularly affected the economies of the Baltic countries. The real gross domestic product decreased in the first half of 2009 in Latvia by 18.8 percent, in Estonia by 15.7 percent and in Lithuania by 11 percent. In the run-up to the current crisis, these countries had a high percentage of bank-related ...
The Google Insights data are a collection of recorded Internet searches for a huge number of the keywords, which are available since January 2004. These searches represent a kind of revealed perceptions of Internet users, which are a (possibly not entirely representative) sample of the general public. These data can be used to improve the short-term forecasts or nowcasts of various macroeconomic variables. ...
