Further publications of the WIFO research staff members

The extensive publication activities of the staff members mirror the close links with the international scientific community.

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Books, journals and working papers(2510 hits)

Stefan Ederer, Miriam Rehm, Will wealth become more concentrated in Europe? Evidence from a calibrated neo-Kaleckian model

PKSG Working Paper, 2017, (1717), https://www.postkeynesian.net/working-papers/1717/
We develop and calibrate an analytical growth model in the neo-Kaleckian tradition with an endogenous wealth distribution and differential returns to wealth between workers and capitalists. We show that a long-run equilibrium allows for non-zero wealth owned by workers, even as the model contains the "triumph of the rentier" predicted by Piketty's r > g as a special case. The model's calibration to ten European countries shows that the distribution of wealth is likely to become more unequal in all cases, barring political countermeasures.
 

Andreas Reinstaller, Chapter 4: Capturing incomes from global demand for manufacturing, in: Industrial Development Report 2018

Book chapters, contributions to collected volumes, Vienna, November 2017, https://www.unido.org/resources/publications/flagship-publications/industrial-development-report-series
 
Editors: United Nations Industrial Development Organization

Andreas Reinstaller, Peter Reschenhofer, Using PageRank in the analysis of technological progress through patents: an illustration for biotechnological inventions

Scientometrics, 2017, (3), pp.1407-1438, https://link.springer.com/article/10.1007/s11192-017-2549-x
This paper examines whether PageRank algorithms are a valid instrument for the analysis of technical progress in specific technological fields by means of patent citation data. It provides evidence for patent data in biotechnology. Recent literature has been critical with regard to the use of PageRank for the analysis of scientific citation networks. The results reported in this paper indicate, however, that with some minor adaptations and careful interpretation of the results the algorithm can be used to capture some important stylised facts of technical progress and the importance of single patents relatively well especially if compared to indicators based on direct inward citations only.
 

Marcus Scheiblecker, Modelling Short-run Money Demand for the US

Applied Economics and Finance, 2017, (5), pp.9-20, http://redfame.com/journal/index.php/aef/issue/view/115
There is a vast amount of empirical evidence concerning the cointegrating relationship between money demand, some kind of interest rate and income. In contrast to this, short-run dynamics are still opaque. In the existing literature, the return to steady state is modelled quite differently. The range goes from simple error correction models to non-linear approaches. Here a method is proposed for considering not only disequilibria between money demand and its steady state of only the last period but also those of the recent past in a parsimonious and economically meaningful way. Different to multicointegration, weights for cumulating steady-state deviations are geometrically decreasing the more they are located in the past. This model possesses an ARMA (1,1) representation and leads to an ARMAX model if combined with a conventional error correction model. This approach is shown to track money demand short-run dynamics better and more parsimoniously than partial-adjustment models.
 

Claudia Kettner, Daniela Kletzan-Slamanig, Carbon taxation in EU Member States: evidence from the transport sector, in: The Green Market Transition

Critical Issues in Environmental Taxation, 2017, (19), http://www.e-elgar.com/shop/the-green-market-transition
 
Editor: – – – –

Marcus Scheiblecker, Modelling Short-run Money Demand for the US

Applied Economics and Finance, 2017, (5), pp.9-20, http://redfame.com/journal/index.php/aef/article/view/2575
There is a vast amount of empirical evidence concerning the cointegrating relationship between money demand, some kind of interest rate and income. In contrast to this, short-run dynamics are still opaque. In the existing literature, the return to steady state is modeled quite differently. The range goes from simple error correction models to non-linear approaches. We herewith propose a method for considering not only disequilibria between money demand and its steady state for the last period only, but also for such of the recent past in a parsimonious and economically meaningful way. As different from multicointegration, weights for cumulating steady-state deviations are geometrically decreasing, the more they are located in the past. This model possesses an ARMA (1,1) representation and leads to an ARMAX model, if combined with a conventional error correction model. This approach is shown to track money demand short-run dynamics better and more parsimoniously than partial-adjustment models.
 

Michael Peneder, Christian Rammer, Sandra Gottschalk, Martin Wörter, Tobias Stucki, Spyros Arvanitis, Does Energy Policy Hurt International Competitiveness of Firms? A Comparative Study for Germany, Switzerland and Austria

Energy Policy, 2017, (109), pp.154-180
 

Stefan Schiman, D. Trump and the economy

Vortrag
 
Organised by: Österreichisch-Japanisches Komitee für Zukunftsfragen
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