Innovations, be they radical new products or technology improvements are widely recognized as a key factor of economic growth. To identify the factors triggering innovative activities is a main concern for economic theory and empirical analysis. As the number of hypotheses is large, the process...

In vector autoregressive analysis confidence intervals for individual impulse responses are typically reported to indicate the sampling uncertainty in the estimation results. A range of methods are reviewed and a new proposal is made for constructing joint confidence bands, given a prespecified...

The rising trends both in drug addiction and crime rates are of major public concern in Germany. Surprisingly, the economic theory of crime seems to ignore the drugs{crime nexus, whereas the criminological literature considers illicit drug use a main reason of criminal activities. This paper...

There is evidence that estimates of long-run impulse responses of structural vector autoregressive (VAR) models based on long-run identifying restrictions may not be very accurate. This finding suggests that using short-run identifying restrictions may be preferable. We compare structural VAR...

Methods for constructing joint confidence bands for impulse response functions which are commonly used in vector autoregressive analysis are reviewed. While considering separate intervals for each horizon individually still seems to be the most common approach, a substantial number of methods...

In dieser ZEW-Kurzanalyse analysieren die Autoren/-innen die Webseiten von circa 1,1 Millionen deutschen Unternehmen zwei Mal wöchentlich auf die Nennung des Wortes "Corona" und entsprechender Synonyme. Anschließend werden die identifizierten Textstellen mittels KI-Textanalysemodellen...