Do tax incentives for science and technology stimulate additional investment? We use detailed data on applications and acceptances for R&D tax incentives, a special survey, and for the first time, the science and technology module from the 2000-2002 Survey of Manufacturers database in Colombia...

Has the spread of democracy and political participation impeded the need for speed required by financial markets and the elevated threat of contagion across borders? We examine the time span between the onset of a financial crisis and the agreement on an IMF-supported adjustment program. This...

Following record low interest rates and fast depreciating U.S. dollar, crude oil prices became under rising pressure and seemed boundless. Oil price process parameters changed drastically in 2003M5-2007M10 toward consistently rising prices. Short-term forecasting would imply persistence of...

This paper examines volatility spillovers from mature to emerging stock markets and tests for changes in the transmission mechanism-contagion-during turbulences in mature markets. Tri-variate GARCH-BEKK models of returns in global (mature), regional, and local markets are estimated for 41...

Concentrated distribution of international reserves is puzzling. I show that the growth rates of international reserves bear only a very weak relationship to their initial stocks (scaled by GDP or in absolute terms), and that, by implication, the cross-sectional distribution of reserves conforms...

There is no package in R to plot bivariate distributions for discrete variables or variables given by classes. Therefore, with the help of the already implemented R routine "persp" R functions will be proposed for 3-D plots of the bivariate distribution of discrete variables, the so-called...

Which of Germanys regions is the most attractive? Where is it best to live and work - on objective grounds? These questions are summed up in the concept "quality of life". This paper uses recent research projects that determine this parameter to examine the spatial distribution of quality of...

Let k be a natural number and let G be a graph with at least k vertices. A.E. Brouwer conjectured that the sum of the k largest Laplacian eigenvalues of G is at most e(G) (k choose 2), where e(G) is the number of edges of G. We prove this conjecture for k = 2. We also show that if G is a tree,...