Mostrando recursos 1 - 3 de 3

  1. Assessing the Disruptiveness of New Energy Technologies - An Ex-Ante Perspective

    Stoiciu, Alexandra; Szabo, Enikö; Totev, Martin; Wittmann, Katharina; Hampl, Nina
    For those organizations that experience disruption, they usually understand the situation when it is already too late. The real challenge to any theory, especially if it is of high relevance for managers, is how it performs predictively. Can the theory of disruptive technologies be used not only to analyze cases ex post but to predict the potential disruptive technologies ex ante? Established companies are skeptical of the idea of disruptiveness, because of the difficulty of making predictions given the ex post nature of the theory. In this regard the goal of this report is to provide a general measure of...
    (application/pdf) - 18-oct-2016

  2. An Incomplete Markets Explanation to the UIP Puzzle

    Rabitsch, Katrin
    A large literature has related the failure of interest rate parity in the foreign exchange market to the existence of a time-varying risk premium. Nevertheless, most modern open economy DSGE models imply a (near) perfect interest rate parity condition. This paper presents a stylized two-country incomplete-markets model in which countries have strong precautionary motives because they face international liquidity constraints, the presence of which successfully generates a time-varying risk premium: the country that has accumulated debt after experiencing relative worse times has stronger precautionary motives and its asset carries a risk premium. (author's abstract)
    (application/pdf) - 18-oct-2016

  3. Education and the Transition to Sustained Democracy

    Crespo Cuaresma, Jesus; Oberdabernig, Doris Anita
    We study empirically the role of education, age structure and other socioeconomic factors as a determinant of the transition to stable democratic regimes. Our findings suggest that educational improvements (in particular in primary education) and policies towards reducing inequalities in educational attainment play a particularly important role as a catalyst of sustainable democratization processes. (authors' abstract)
    (application/pdf) - 18-oct-2016

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