This article investigates how a …rm’s …nancial strength a¤ects its dynamic decision to invest in R&D. We estimate a dynamic model of R&D choice using data for German …rms in high-tech manufacturing industries. The model incorporates a measure of the …rm’s …nancial strength, derived from its credit rating, which is shown to lead to substantial di¤erences in estimates of the costs and expected lo...

in the recent years, renewable energy sources are an important component of world energy consumption. gdp is one of the main measures of a country’s economic activity. most of the studies examine the impact of renewable energy consumption on gdp with single equation model and the others use dynamic panel data. since the granger causality analysis’s findings of this paper establish bidirectional...

A model framework, SIMBIOSES, is presented which describes economic activities and related material, substance and energy flows in a multi-region and multi-sector economic system. The conceptual design of the framework is discussed in relation to current issues on “dematerialization” and “decoupling”. Three types of models to implement SIMBIOSES are discussed: a static equilibrium model, a dyna...

a r t i c l e i n f o The ASEAN–China free trade agreement went into effect January 1, 2010 and became the world's third largest FTA by trade volume after the European Economic Area and the North American Free Trade Agreement. This paper focuses on highlighting the impacts of the reduction of barriers to trade on investment in a dynamic general computable equilibrium framework. We present and c...

A general model of dynamic common agency with symmetric information is considered. The set of truthful Markov perfect equilibrium payoffs is characterized and the efficiency properties of the equilibria are established. A condition for the uniqueness of equilibrium payoffs is derived for the static and the dynamic game. The payoff is unique if and only if the payoff of each principal coincides ...

A new class of signal analysis problems is considered, which appear in finance when it is required to detect the hidden dynamics of an investment instrument or a portfolio in respect to certain market or economic factors. Such problems can be naturally formulated as a complex of models concerned with estimating a nonstationary linear regression under additional constraints and requirements whic...

T he purpose of this study is to analyze the effect of foreign direct investment and portfolio investment on the convergence occurrence of economic growth of countries in the ASEAN + 3 region and to determine the time or speed required to achieve convergence. The type of data used in this research is secondary data panel which is combination between time series data and cross-section...