Market performance and competition: A product life cycle model

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Policy Advice Derived From Simulation Models

When advising policy we face the fundamental problem that economic processes are connected with uncertainty and thus policy can err. In this paper we show how the use of simulation models can reduce policy errors. We suggest that policy is best based on so-called abductive simulation models, which help to better understand how policy measures can influence economic processes. We show that abductive simulation models use a combination of theoretical and empirical analysis based on different data sets. This helps inferring empirically reliable and meaningful statements about how policy measures influence economic processes. By way of example we show how research subsidies by the government influence the likelihood that a regional cluster emerges.Policy Advice, Simulation Models, Uncertainty, Methodology

The invisible college of the economics of innovation and technological change

economics,innovation, technological change

Closing the GARCH gap: Continuous time GARCH modeling

Time Models

Semiparametric Lower Bounds for Tail Index Estimation

indexation;semiparametric estimation