With 2.4 million employees, the military is America's largest employer. Individuals make the military labor force participation decision within the context of other labor market opportunities, which may vary by race and over the business cycle. This paper develops and estimates a dynamic...

Die Regulierung eines Marktes ist das Ergebnis eines komplexen Prozesses, der sowohl von politischen als auch wirtschaftlichen Kräften beeinflusst wird. In drei sich ergänzenden Essays wird die Frage ökonometrisch untersucht, wie die Wirkungen und die Leistungsfähigkeit von Regulierungen neu...

Recent studies have documented extensive heterogeneity in firm performance within countries, and innovation has been found as an important determinant. This paper addresses the issue of innovation firm performance across countries. A growing number of national firm level studies on the...

In this paper we analyse the effect of R&D co-operation on firms? innovation performance. We investigate the effect of past co-operation on current sales of innovative products, distinguishing between products new to the firm and new to the market, and on cost reductions due to innovative...

Diese Dissertation setzt sich zusammen aus drei separaten Aufsätzen, welche sich aus empirischer Sicht mit verschiedenen Aspekten der Zusammenhänge zwischen Finanzmärkten und der Makroökonomie beschäftigen. Kapitel 1 ("Long Horizon Consumption Risk and the Cross-Section of Returns: New...

Standard statistical methods in the empirical economics and finance literature are mostly applicable to data that is aggregated on equally spaced time points. However, a key characteristic of many economic and financial variables is that they occur randomly and are observed irregularly in time....

In the first chapter of this dissertation, I estimate the long-run price elasticity of supply of renewable electricity generating capacity using the variation in state mandates for renewable electricity production. These mandates require electricity providers to purchase a predetermined fraction...

Unlike previous analyses, we consider (i) that IT may affect productivity growth both directly and indirectly, through human capital interactions, and (ii) possible externalities in the use of IT. Examining, hypothetically, the statistical consequences of erroneously disregarding (i) and (ii) we...

The demographic transition is a phenomenon affecting many industrialized societies. These economies are experiencing a decline in mortality alongside low fertility rates - a situation that puts social security systems under severe pressure. To implement appropriate reform measures, adequate...

Greater economic integration between developing and higher income economies has led to increased 'north-south' business cycle linkages. This study applies a linear transfer function ARIMA approach to analyze regional maquiladora payroll dynamics in a non-border region of Mexico. Statistically...