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Referierte Aufsätze Web of Science
Improved understanding of the innovative pathways of renewable energy technologies is vital if we are to make the transition to a low carbon economy. This study presents new evidence on innovation and industry dynamics in concentrating solar power (CSP) technologies. Though CSP is undergoing a renaissance, existing innovation studies have explored innovative activity in solar technologies in general, ...
In:
Energy Policy
39 (2011), 5, S. 2441-2456
| Frauke G. Braun, Elizabeth Hooper, Robert Wand, Petra Zloczysti
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Referierte Aufsätze Web of Science
We examine real business cycle convergence for 41 euro area regions and 48 US states. The results obtained by a panel model with spatial effects indicate that the impact of national business cycles has been rather stable over the past two decades. A tendency for convergence in business cycles often detected in country data is not confirmed at the regional level. The pattern of synchronization across ...
In:
The Manchester School
79 (2011), 5, S. 1035-1044
| Konstantin A. Kholodilin, Christian Dreger, Michael Artis
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Referierte Aufsätze Web of Science
We investigate the link between the propensity to become an entrepreneur and the exogenous release from financial constraints in Germany. This is defined in terms of the movement from employment to self-employment on receipt of a financial windfall. A theoretical framework developing Evans and Jovanovic (1989) is set up and tested with panel data from German households. The results show that financial ...
In:
Economic Modelling
28 (2011), 5, S. 2174-2180
| Dorothea Schäfer, Oleksandr Talavera, Charlie Weir
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Referierte Aufsätze Web of Science
This paper examines the long-run relationship between energy consumption and real GDP, including energy prices, for 25 OECD countries from 1981 to 2007. The distinction between common factors and idiosyncratic components using principal component analysis allows to distinguish between developments on an international and a national level as drivers of the long-run relationship. Indeed, cointegration ...
In:
Energy Economics
33 (2011), 5, S. 782-789
| Ansgar Belke, Frauke Dobnik, Christian Dreger
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Referierte Aufsätze Web of Science
What determines the direction of spread of currency crises? We examine data on waves of currency crises in 1992, 1994, 1997, and 1998 to evaluate several hypotheseson the determinants of contagion. We simultaneously consider trade competition, financial links, and institutional similarity to the "ground zero" country as potential drivers of contagion. To overcome data limitations and account for model ...
In:
Journal of International Money and Finance
30 (2011), 5, S. 831-848
| Amil Dasgupta, Roberto Leon-Gonzalez, Anja Shortland
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Referierte Aufsätze Web of Science
Linkages between banks and insurance companies are important when forecasting the fragility of the banking and insurance sectors. We propose a novel empirical framework that allows us to estimate unobserved linkages in panel data sets that contain observed regressors. We find that taking unobserved common factors into account reduces the root mean square forecasts error of firm specific forecasts by ...
In:
Journal of Banking & Finance
35 (2011), 4, S. 807-818
| Kerstin Bernoth, Andreas Pick
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Referierte Aufsätze Web of Science
We investigate the likely sources of exchange rate dynamics in selected member countries of the Commonwealth of Independent States (CIS; Russia, Kazakhstan, Ukraine, Kyrgyzstan, Azerbaijan, and Moldova) over the past decade (1999-2010). Evidence is based on country VARs augmented by a regional common-factor structure (FAVAR model). The models include nominal exchange rates, the common factor of exchange ...
In:
Emerging Markets, Finance & Trade
47 (2011), 4, S. 49-58
| Christian Dreger, Jarko Fidrmuc
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Referierte Aufsätze Web of Science
Despite political activities to foster a low-carbon energy transition, Germany currently sees a considerable number of new coal power plants being added to its power mix. There are several possible drivers for this "dash for coal", but it is widely accepted that windfall profits gained through free allocation of ETS certificates play an important role. Yet the quantification of allocation-related investment ...
In:
Energy Policy
39 (2011), 4, S. 1975-1987
| Michael Pahle, Lin Fan, Wolf-Peter Schill
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Referierte Aufsätze Web of Science
We estimate firms' cash flow sensitivity of cash to empirically test how the financial system's structure and level of development influence their financial constraints. For this purpose we merge Almeida et al.'s work, a path-breaking design for evaluating a firm's financial constraints, with that of Levine, who paved the way for comparative analysis of financial systems around the world. We conjecture ...
In:
Journal of International Money and Finance
30 (2011), 4, S. 678-691
| Christopher F. Baum, Dorothea Schäfer, Oleksandr Talavera
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Referierte Aufsätze Web of Science
The importance of repeat and circular migration starts receiving rising recognition. The paper studies this behavior by analyzing the number of exits and the total number of years away from the host country using count data models and panel data from the German guestworker experience. Beyond the myth, more than 60% of migrants in the sample from the guestworker countries living in Germany are indeed ...
In:
Population Research and Policy Review
30 (2011), 4, S.495-515
| Amelie Constant, Klaus F. Zimmermann