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Incubators, Accelerators and Urban Economic Development

We combine theory and evidence on incubator and accelerator programmes and their effects on urban economic development. These structured co-working programmes have grown rapidly. However, a rich descriptive literature reveals little about their impact on participants or surrounding urban areas. We situate programmes in a conceptual framework of co-location tools, theorise objectives and benefits and ...

Was für eine Freigabe der Impfstoff-Patente spricht

In der Diskussion über die Patente für Corona-Impfstoffe hat sich Angela Merkel gegen eine Freigabe ausgesprochen. Marcel Fratzscher hält das für einen der schwerwiegendsten Fehler ihrer Kanzlerschaft, der Deutschland und Europa geopolitisch weiter schwächt. Dieser Text erschien am 10. Mai 2021 als Gastbeitrag in der Welt. Bundeskanzlerin Angela Merkel (CDU) lehnt die Initiative ...

Market Concentration in Europe: Evidence from Antitrust Markets

An increasing body of empirical evidence is documenting trends toward rising concentration, profits, and markups in many industries around the world since the 1980s. Two major criticisms of these studies is that concentration and market shares are poorly measured at the national industry level while firm level revenues are a poor indicator of product sales. We use a novel database that identifies over ...

Keine Angst vor Klimapolitik! Sonst drohen der Wirtschaft Gefahren: Kommentar

The Hidden Homeownership Welfare State: An International Long-Term Perspective on the Tax Treatment of Homeowners

Welfare is traditionally understood through social security decommodifying labor markets or social investment policies. In the domain of housing, however, welfare for homeowners is largely hidden in the tax codes’ fiscal exemptions. Based on a content analysis of legislation, this paper introduces a novel yearly database of 37 countries between 1910 and 2020 to uncover the “hidden welfare state” of ...

Venture Capital in Diabetes: A Yes to Big Hits, a No to Competition

Venture capital (VC) is often seen as an instrumental tool that allows many start-ups to pursue innovation with the potential to shake-up current markets and/or to replace incumbents. Using a highly granular, project-level dataset from preclinical diabetes R&D, this paper shows that VCs actively steer the direction of R&D and streamline activities of research focused firms (pipeline firms)...

Das Impfdesaster, an dem wir alle Mitschuld tragen

Dieser Text erschien am 6.1.2021 als Gastbeitrag im SPIEGEL. Die EU hat bei der Planung der Impfkampagne einiges richtig gemacht – und einen entscheidenden, leider aber fast zwangsläufigen Fehler. Dessen Wurzeln liegen tief: in einer völlig verqueren öffentlichen Fehlerkultur. Die hochemotionale Debatte über die schleppende Verteilung von Impfstoffen richtet nachhaltigen Schaden ...

Competitors’ Reactions to Big Tech Acquisitions: Evidence from Mobile Apps

Since 2010, Google, Apple, Facebook, Amazon, and Microsoft (GAFAM) have acquired more than 400 companies. Competition authorities did not scrutinize most of these transactions and blocked none. This raised concerns that GAFAM acquisitions target potential competitors yet fly under the radar of current merger control due to the features of the digital economy. We empirically study the competitive effects ...

Common Ownership in the U.S. Pharmaceutical Industry: A Network Analysis

We investigate patterns in common ownership networks between firms that are active in the U.S. pharmaceutical industry for the period 2004–2014. Our main findings are that “brand firms”—that is, firms that have research and development capabilities and launch new drugs—exhibit relatively dense common ownership networks with each other that further increase significantly in density over time, whereas ...

Technologiefonds – Anschub für die digitale und ökologische Transformation der Industrie