The paper aims at testing Florida’s concept of the Creative Class using panel data for 323 West German regions for the time period 1975 – 2004. We apply two different estimation methods, a panel VAR for the complete data set and a dynamic system approach based on GMM for a modified data set...

This paper estimates the effect of innovation on employment at the firm level. Our uniquely long innovation panel data set of German manufacturing firms covers more than 20 years and allows us to use various innovation measures. We can distinguish between product and process innovations as well...

The use of financial ratios by analysts to compare the performance of firms from one accounting period to the next is of growing importance with continued European economic integration. Recent studies suggest that the individual component series of financial ratios exhibit nonstationarity which...

We investigate the linkage between business cycle convergence and financial portfolio choice for a panel of 18 EU countries. We construct an index of similarity of financial portfolios which we then put into context with the view that “the financial world” has an impact on business cycles...

Summary The paper aims at testing Florida’s concept of the Creative Class using panel data for 323West German regions for the time period 1975-2004. Applying a dynamic system approach based on GMM, we find that the local concentration of the Creative Class has predictive power for the economic...