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Austrian Institute of Economic Research
(69 results)-
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Composite Leading Indicator For The Austrian Economy. Methodology And "Real-time" Performance
April 1, 2010, 12:00am PDT
The aim of this paper was to construct a monthly composite leading indicator for the Austrian economy which shows early signs of cyclical turning points in the Austrian business cycle. So far, the...
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Technological Regimes And The Variety Of Innovation Behaviour: Creating Integrated Taxonomies Of Firms And Sectors
February 1, 2010, 12:00am PST
This paper presents an integrated set of innovation taxonomies for firms and sectors. It discards the practice of representing industries by some average behaviour, instead characterising them by...
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Commuting, Residence And Workplace Location Attractiveness And Local Public Goods
February 1, 2010, 12:00am PST
Being at the heart of today's working life, commuting is of central interest to geographers, policy makers, transport planners and economists alike. This paper analyzes aggregate commuting using...
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The Role Of Knowledge In Regional Development. Theoretical Considerations And The Case Of The Austrian-Hungarian Border Region
January 1, 2010, 12:00am PST
Economic growth and development theories have neglected the role of knowledge and space for a long time. However, it is widely accepted that knowledge has played a more and more important role in...
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The Great Recession Vs. The Great Depression: Stylized Facts On Siblings That Were Given Different Foster Parents
December 1, 2009, 12:00am PST
This paper compares the depth of the Recent Crisis and the Great Depression. The authors use a new data set to compare the drop in activity in the industrialized countries for seven activity...
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Passenger Car Use And Climate Change: Quantifying The Impacts Of Technological Innovations Needed For Substantial CO2 Emission Reductions
November 1, 2009, 12:00am PDT
The purpose of the paper is to model scenarios of technological innovations in the global passenger vehicle fleet, i.e. improvements in the energy economy of average regional vehicle fleets and...
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Welfare Measures And Ecological Footprint As Spatial Sustainability Indicators
October 1, 2009, 12:00am PDT
The aim of this paper is to compare a Social Welfare (SW) indicator for sustainability with the Ecological Footprint (EF) indicator for measuring spatial sustainability. The framework applied...
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An Anatomy Of Firm Level Job Creation Rates Over The Business Cycle
October 15, 2009, 12:00am PDT
The authors study the evolution and cyclical dependency of the cross sectional distribution of firm level job creation rates from 1975 to 2004 for the Austrian private sector. They find that the...
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Should Cross-Border Services Between Austria And Slovenia Still Be Restricted? An Economic Assessment Of The Existing Market Regulations
October 1, 2009, 12:00am PDT
In 2004 the Republic of Slovenia entered the European Union and, as a matter of principle, was guaranteed the four freedoms (free trans-national mobility of goods, services, capital and labour)....
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Measuring The Business Cycle Similarity And Convergence Trends In The CEECs Towards The Eurozone With Respect To Some Unclear Methodological Aspects
October 1, 2009, 12:00am PDT
The adoption of the Euro by Slovakia as of January 2009 and the current world economic crises revived a debate on timing of the Euro adoption in the Czech Republic and other CEECs. The purpose of...
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A General Financial Transaction Tax: A Short Cut Of The Pros, The Cons And A Proposal
October 1, 2009, 12:00am PDT
The idea of introducing a general Financial Transaction Tax (FTT) has recently attracted rising attention. There are three reasons for this interest. First, the economic crisis was deepened by the...
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Strengthening The Resilience Of An Economy: Strategies To Prevent Another Crisis
June 1, 2009, 12:00am PDT
The financial crisis has affected the real economy in stages yet nevertheless at an unexpected rate and with all regions being affected simultaneously. It advanced almost independently of the...
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The Meaning Of Entrepreneurship: A Modular Concept
June 1, 2009, 12:00am PDT
Entrepreneurship has been characterised as one of the most intriguing but equally elusive concepts in economics. This paper first surveys its major intellectual roots and then proposes a modular...
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The Impact Of Technological Change And Lifestyles On The Energy Demand Of Households: A Combination Of Aggregate And Individual Household Analysis
February 1, 2009, 12:00am PST
This paper deals with integrating technology as well as lifestyles as driving forces of energy demand into a model of total private consumption. Private consumption is determined by economic...
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Exploring The Distribution Of Direct Payments Of The Common Agricultural Policy
September 1, 2008, 12:00am PDT
Direct payments are the most important expenditure of the Common Agricultural Policy. They are mostly spent on decoupled direct payments which are intended to be allocatively neutral. Increasing...
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Is The R&D Behaviour Of Fast Growing SMEs Different? Evidence From CIS III Data For 16 Countries
August 1, 2008, 12:00am PDT
This paper studies the R&D behaviour of fast growing SMEs using CIS III data for 16 countries. The authors group the countries into three groups of countries that roughly have the same position in...
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Tourism Forecasting: Accuracy Of Alternative Econometric Models Revisited
August 1, 2008, 12:00am PDT
This paper evaluates the forecasting accuracy of five alternative econometric models in the context of predicting the quarterly international tourism demand in 25 countries/country groupings....
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Aggregate Trading Behaviour Of Technical Models And The Yen-Dollar Exchange Rate 1976-2007
July 1, 2008, 12:00am PDT
The paper analyzes the interaction between the trading behaviour of 1024 moving average and momentum models and the fluctuations of the yen/dollar exchange rate. The author shows first that these...
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Moving Across Borders: Who Is Willing To Migrate Or To Commute?
June 1, 2008, 12:00am PDT
This paper analyses the willingness to commute and migrate across borders. The authors focus on differences in the effects of individual characteristics on the willingness to migrate and the...
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Modelling The Energy Demand Of Households In A Combined Top Down/Bottom Up Approach
May 1, 2008, 12:00am PDT
This paper deals with integrating elements of a bottom-up model of energy demand into a top-down model of total private consumption. The bottom-up elements are represented by the energy efficiency...
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A Decomposition Of Austria's General Government Budget Into Structural And Cyclical Components
April 1, 2008, 12:00am PDT
The paper describes a model for the computation of trend output and the structural budget deficit in Austria. The calculation of trend output is based on a production function approach within a...
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Incomes Policies, Expectations And The NAIRU
March 1, 2008, 12:00am PST
In the sixties, several countries adopted incomes policies to control inflation that was interpreted as the result of a distributional struggle between business and labour unions. Incomes policy...
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Combining A Demand System With The Household Production Approach: Modelling Energy Demand In Selected European Countries
February 1, 2008, 12:00am PST
This paper sets up a model of private consumption for selected EU countries with special emphasis on the impact of energy efficiency on energy demand. Starting point for the analysis is the idea...
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The Effectiveness Of Objective 1 Structural Funds In The EU 15: New Empirical Evidence From NUTS 3 Regions
February 1, 2008, 12:00am PST
Based on a sample of 1,084 European regions (EU15) over the period 1995-2004, the authors estimate the determinants of regional growth of GDP per capita, allowing for both spatial lag and spatial...
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Innovation And Market Concentration In Europe's Mobile Phone Industries: Evidence From The Transition From 2G To 3G
November 1, 2007, 12:00am PDT
Aiming at both low prices and innovation, policy makers and economists have long argued about the optimal intensity of competition. While the current discussion in telecommunication regulation...
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Performance Differences In Europe: Tentative Hypotheses On The Role Of Institutions
October 1, 2007, 12:00am PDT
Low growth in Europe and persistently high unemployment raised the question whether it was the specific features of the European Social Model, which lead to these disappointing results. This paper...
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The Swedish Economic Model
October 1, 2007, 12:00am PDT
This paper describes the remarkable success of Sweden over the past 15 years. The success has come after decades of sluggish growth, during which Sweden managed to lose its substantial lead in per...
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Globalization, EU Enlargement And Income Distribution
June 28, 2007, 12:00am PDT
Advanced industrial countries have been exhibiting a steady decline of the labor income shares in the last two decades. The authors explain this phenomenon by resorting to the old...
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Aggregate Trading Behavior Of Technical Models And The Yen/Dollar Exchange Rate
June 1, 2007, 12:00am PDT
The paper analyzes the interaction between the trading behavior of 1024 moving average and momentum models and the fluctuations of the yen/dollar exchange rate. The author shows first that these...
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Cycles Inside Cycles: Spanish Regional Aggregation
February 1, 2011, 12:00am PST
This paper sets out a comprehensive framework to identify regional business cycles within Spain and analyses their stylised features and the degree of synchronisation among them and the Spanish...
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Geography, Institutions And Principles. Bits And Pieces Of Empirical Evidence From Small-Scale Banking
April 1, 2011, 12:00am PDT
Theory suggests that cross-border bank lending flow from rich countries to poor countries is facilitated when lending-related legal and social norms are shared and valued equally by both lenders...
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Welfare Magnets, Taxation And The Location Decisions Of Migrants To The EU
April 1, 2011, 12:00am PDT
Migrants are among the groups most vulnerable to economic fluctuations. As predicted by the "Welfare magnet" hypothesis, migrants can therefore be expected to - ceteris paribus - prefer countries...
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Job Creation And The Intra-Distribution Dynamics Of The Firm Size Distribution
May 1, 2011, 12:00am PDT
Based on a structural model for initial firm size, survival and firm growth the authors estimate firm-specific transition probabilities between size classes of the firm size distribution. This...
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Entrepreneurship And Cities: Evidence From The Post-Communist World
June 1, 2011, 12:00am PDT
This paper investigates variation in entrepreneurship across cities of Commonwealth of Independent States during 1995-2008, utilizing a unique dataset and employing the System Generalised Method...
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The Modularity Of Technology And Organisations. Implications For The Theory Of The Firm
June 1, 2011, 12:00am PDT
This paper gives a selective overview on contributions studying issues of complexity, near-decomposability and modularity in relation to economic behaviour and the theory of the firm. In the first...
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An Evaluation Of The Forecasting Performance Of Three Econometric Models For The Eurozone And The USA
August 1, 2011, 12:00am PDT
This paper compares the forecasting performance of three different econometric models for the Eurozone and the USA: a Vector Auto Regression (VAR), a Bayesian Vector Auto Regression (BVAR), and a...
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Financial Frictions, Foreign Direct Investment, And Growth
January 1, 2010, 12:00am PST
This paper assesses the role of financial frictions and Foreign Direct Investment (FDI) on an economy's growth rate, business cycle volatility, and firm's capital structure. The authors gauge...
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Financial Integration In Autocracies: Greasing The Wheel Or More To Steal?
April 16, 2010, 12:00am PDT
This paper analyzes the influence of financial integration on institutional quality. The authors construct a dynamic political-economic model of an autocracy in which a ruling elite uses its...
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Financial Development, Financial Openness And Trade Openness: New evidence
November 1, 2010, 12:00am PDT
Employing the Pedroni co-integration technique and the GMM estimator, this paper aims at investigating the possible connection between financial development, financial openness and trade openness...
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International Propagation Of Financial Shocks In A Search And Matching Environment
April 1, 2011, 12:00am PDT
This paper develops a two-country multi-frictional model where the freeze on liquidity access to commercial banks in one country raises unemployment rates via credit rationing in both countries....
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Financial Instability And Optimal Monetary Policy Rule
January 1, 2010, 12:00am PST
This paper investigates the effect of financial instability on the design of monetary policy rule for a small open economy. The authors find evidence that optimal monetary policy rule reacts...
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The Impact Of Competition On Macroeconomic Performance
May 1, 2008, 12:00am PDT
This paper investigates the impact of the toughness of competition on the macroeconomic performance of countries. The relation between competition and innovation has been investigated intensely in...
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A Primer On Financial System Meltdown: The Economists' View
December 1, 2008, 12:00am PST
The views on financial crises reviewed in this paper suggest that modern financial markets may have a lot in common with nuclear power stations. Both are capable of working for the good of...
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The Financial Crisis As An Overshooting Phenomenon
April 1, 2009, 12:00am PDT
Inspired by Dornbusch's model of exchange rate overshooting the authors develop a theory of stock market behaviour. The idea is that stock market prices overshoot and undershoot their long-run...
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Asset Price Fluctuations, Financial Crises And The Stabilizing Effects Of A General Transaction Tax
August 1, 2009, 12:00am PDT
The deepening of the recent crisis was driven by the simultaneous devaluation of stock wealth, housing wealth and commodity wealth. The potential for this devaluation process had been "Built up"...
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The Current Economic Crisis: Causes, Cures And Consequences
August 1, 2009, 12:00am PDT
The financial crisis has brought with it an economic recessive which is more severe and widespread than any decline in production for the past 50 years. In the USA and Europe the decline in...
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Boom-Bust Cycles And Trading Practices In Asset Markets, The Real Economy And The Effects Of A Financial Transactions Tax
March 1, 2010, 12:00am PST
This paper begins with a puzzle. Over the past three decades, trading in asset markets has become progressively more short-term oriented ("Faster"), with traders attempting to exploit intraday...
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The Impact Of Growth Performance And Political Regime Type On Economic Policy Liberalization
August 1, 2007, 12:00am PDT
The paper investigates empirically the interaction between economic growth performance and political institutions in producing free-market reform. In particular, the authors explore whether...
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Reform Perspectives On Welfare State Models In Global Capitalism
October 1, 2007, 12:00am PDT
In the tradition of Esping-Andersen a number of welfare state models have been characterized. In this paper, the authors analyze the economic and social performance of these different welfare...
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Business Cycles And Growth: A Survey
November 1, 2007, 12:00am PDT
The paper surveys the evolution of modern macroeconomic models with the focus on the interrelations between endogenous growth and cyclical fluctuations. After reviewing models of the business...
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On The Autocorrelation Of Growth Rates: Evidence For Micro, Small And Large Firms From The Austrian Service Industries, 1975-2004
October 1, 2008, 12:00am PDT
This paper studies the serial autocorrelation of annual growth rates in employment for selected Austrian service industries over a 30-year period using quantile regression techniques. The...
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How To Measure Globalisation? A New Globalisation Index (NGI)
December 1, 2009, 12:00am PST
In this paper, a new composite globalisation index will be presented. With its 21 variables, it accounts for the multidimensionality of this phenomenon instead of relying purely on economic...
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The Impact Of Venture Capital On Innovation Behaviour And Firm Growth
August 26, 2010, 12:00am PDT
Proposing a novel research design for firm-level impact studies, the author investigates the effects of venture capital financing on corporate performance by applying a two-stage propensity score...
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Firm Growth, European Industry Dynamics And Domestic Business Cycles
July 19, 2010, 12:00am PDT
Based on the empirical firm growth literature and on heterogeneous (microeconomic) adjustment models, this paper empirically investigates the impact of European industry fluctuations and domestic...
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International Outsourcing And Productivity Growth
June 1, 2008, 12:00am PDT
This paper investigates the impact of international outsourcing to low- and high income countries on total factor productivity growth based on manufacturing industry data for 14 OECD countries...
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Firm Growth: Empirical Analysis
February 24, 2010, 12:00am PST
Recent research has led to the empirical regularity that firm growth rate distributions are heavy tailed. This finding implies that a few firms experience spectacular growth rates and decline, but...
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Forecasting Global Flows
January 1, 2008, 12:00am PST
The theory suggests that investment activities and monetary policy influence the development of the global business cycle. The oil price and other raw material prices also play a key role in the...
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Components Of The Profitability Of Technical Currency Trading
April 27, 2009, 12:00am PDT
This paper investigates the sources of the profitability of 1024 moving average and momentum models when trading in the German mark (euro)/U.S. dollar market based on daily data. The main results...
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