While the extant innovation literature has provided extensive evidence of the so-called "demand-pull" effect, the possible diverse impact of demand evolution on product vs process innovation activities has not been yet investigated. This paper develops a f ...
Dampened inflation expectations have a significant impact on the New Keynesian Phillips Curve. This dampening not only flattens the long run Phillips Curve, but it can also lead to a bias in the estimation of its short run slope. It also affects the respon ...
Automated mobility on demand is foreseen as the future of urban passenger mobility. While mixed-traffic for autonomous and conventional vehicles could be considered, separation amplifies the benefits of automation. Combined with mobility as a service, sepa ...
The sharing of durable goods in a dynamic ownership economy is attractive, since it has the potential to realize gains from trade via short-term transfers of usage rights. We develop a model in which a set of agents, who are heterogeneous in their likely n ...
This thesis examines the effects of financing frictions on corporate decisions using dynamic models. Accounting for financing frictions helps reconcile a number of regularities that are hard to explain within the Modigliani-Miller framework. For instance, ...
Financial factors are central to the recent economic crisis. Most macroeconomic models treat banks and financial intermediation as a veil. These models are unable to account for the recent financial crisis and they cannot be used for policy evaluation. Fin ...
This paper addresses the signatures of catchment geomorphology on base flow recession curves. Its relevance relates to the implied predictability of base flow features, which are central to catchment-scale transport processes and to ecohydrological functio ...
In crowding, target discrimination is impaired by flanking elements. What happens if a target is neighbored by flankers A and in addition by further flankers B? According to pooling models, crowding is the consequence of averaging features of target and fl ...
The drift kinetic equation is analysed for linear instabilities that are sensitive to the toroidal drift motion of long-mean free path particle populations. The interaction Lagrangian is resolved, and the toroidal drift precession evaluated for realistic t ...
We prove that for any incomplete market and any concave utility function the marginal propensities to consume and to save are always positive. Furthermore, we intro- duce a class of incomplete markets that includes almost all well known examples of market ...
