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Financial Development, Property Rights and Growth

Claessens, Stijn; Laeven, Luc - C.E.P.R. Discussion Papers - 2002

This Paper investigates how the legal framework not only affects the amount of external financing available, but also firms’ resource allocation among different types of assets. Using a simple model, we show that in a weaker legal environment a firm will get less financing, and thus invest...

Persistent link: https://www.econbiz.de/10005504760

Knowledge Spillovers, ICT and Productivity Growth

Corrado, Carol; Haskel, Jonathan; Jona-Lasinio, Cecilia - C.E.P.R. Discussion Papers - 2014

This paper looks at the channels through which intangible assets affect productivity. The econometric analysis exploits a new dataset on intangible investment (INTAN-Invest) in conjunction with EUKLEMS productivity estimates for 10 EU member states from 1998 to 2007. We find that (a) the...

Persistent link: https://www.econbiz.de/10011084334

How Much Does the UK Invest in Intangible Assets?

Giorgio Marrano, Mauro; Haskel, Jonathan - C.E.P.R. Discussion Papers - 2007

We attempt to replicate for the UK the Corrado, Hulten and Sichel (2005, 2006) work on spending on intangible assets in the US. Their work suggests private sector expenditure (investment) on intangibles is about 13% (11%) of US GDP 1998-2000, with intangible investment about equal to tangible...

Persistent link: https://www.econbiz.de/10005656338

Assessing agglomeration economies in a spatial framework with endogenous regressors

Artis, Michael J; Miguélez, Ernest; Moreno, Rosina - C.E.P.R. Discussion Papers - 2009

This paper is concerned with the influence of agglomeration economies on economic outcomes across British regions. The concentration of economic activity in one place can foster economic performance due to the reduction in transportation costs, the ready availability of customers and suppliers,...

Persistent link: https://www.econbiz.de/10005791212

Public Support for Innovation, Intangible Investment and Productivity Growth in the UK Market Sector

Haskel, Jonathan; Wallis, Gavin - C.E.P.R. Discussion Papers - 2010

Pressure on public finances has increased scrutiny of public support for innovation. We examine two particular issues. First, there have been many recent calls for the (relatively new) UK R&D subsidy to be extended to other "research" activities, such as software. Second, argument still rages...

Persistent link: https://www.econbiz.de/10008468645

Foreign Aid Designed to Diminish Terrorist Atrocities can Increase Them

Mandler, Michael; Spagat, Michael - C.E.P.R. Discussion Papers - 2003

A domestic power faces an enemy and commits terrorist atrocities to increase the likelihood of victory. A foreign patron can grant aid to the power but prefers fewer or no atrocities. The domestic power responds by acquiescing in the creation of uncontrollable paramilitaries that commit even...

Persistent link: https://www.econbiz.de/10005504744

Signalling and Commitment: Monetary versus Inflation Targeting

Gersbach, Hans; Hahn, Volker - C.E.P.R. Discussion Papers - 2003

This Paper compares the social efficiency of monetary targeting and inflation targeting when central banks may have private information on shocks to money demand and, because of verifiability problems, the transparency solution is not feasible. Under inflation targeting and monetary targeting,...

Persistent link: https://www.econbiz.de/10005497735

Efficiency-Enhancing Signalling in the Samaritan's Dilemma

Lagerlöf, Johan N. M. - C.E.P.R. Discussion Papers - 2003

Suppose an altruistic person - A - is willing to transfer resources to a second person - B - if B comes upon hard times. If B anticipates that A will act in this manner, B will save too little from both agents’ point of view. This is the Samaritan’s dilemma. The logic of the dilemma has been...

Persistent link: https://www.econbiz.de/10005497793

Does Speed Signal Ability? The Impact of Grade Repetitions on Employment and Wages

Brodaty, Thomas; Gary-Bobo, Robert J.; Prieto, Ana - C.E.P.R. Discussion Papers - 2008

We propose a new test for the presence of job-market signalling in the sense of Spence (1973), based on an equation in … nonlinear model of education choices and cannot reject the assumption that the data is generated by a job-market signalling …

Persistent link: https://www.econbiz.de/10005498114

Signalling, Incumbency Advantage, and Optimal Reelection Thresholds

Caselli, Francesco; Cunningham, Tom; Morelli, Massimo; … - C.E.P.R. Discussion Papers - 2012

types to voters. We identify two novel implications of models in which signalling incentives are important. First, because …. Second, voters can exploit the signalling behavior of politicians by precommitting to a higher threshold for signals received …. Raising the threshold discourages signalling effort by low quality politicians but encourages effort by high quality …

Persistent link: https://www.econbiz.de/10011083735