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The paper adds to the literature on the barriers to innovation in two ways. First, we assess comparatively what mostly constrains firms' ability to translate investment in innovation activity into new products and processes, whether it is mainly finance, a ...
We model oil price dynamics in a general equilibrium production economy with two goods: a consumption good and oil. Production of the consumption good requires drawing from oil reserves at a fixed rate. Investment necessary to replenish oil reserves is cos ...
In Switzerland, according to Swiss Federal Office of Energy around 50% of primary energy consumption is attributable to buildings: 30% for heating, air-conditioning and hot water, 14% for electricity and around 6% for construction and maintenance. However, ...
The financial crisis of 2007-2009 drew attention to the essential role of banks for the macroeconomy and to the importance of having a resilient financial sector. A vulnerability in the financial sector spills over to the real economy and can drive it into ...
We argue that the time-varying regional distribution of housing equity influences the aggregate consequences of monetary policy through its effects on mortgage refinancing. Using detailed loan-level data, we show that regional differences in housing equity ...
Many of the Sustainable Development Goals (SDGs) set by the United Nations for 2030 (UN General Assembly 2015) could not be reached without the contribution of raw materials. Raw materials are fuelling the manufacturing sector and creating jobs and value a ...
Paul Scherrer Institute, World Resources Forum2019
Recent evidence suggests that younger people update beliefs in response to aggregate shocks more than older people. We embed this generational learning bias in an equilibrium model in which agents have recursive preferences and are uncertain about exogenou ...
The need for indium droplets to initiate self-catalyzed growth of InAs nanowires has been highly debated in the last few years. Here, we report on the use of indium droplets to tune the growth direction of self-catalyzed InAs nanowires. The indium droplets ...
In Switzerland, according to Swiss Federal Office of Energy around 50% of primary energy consumption is attributable to buildings: 30% for heating, air-conditioning and hot water, 14% for electricity and around 6% for construction and maintenance. However, ...
Technological innovation has become central to the development of nations. The OECD countries and developing countries have created systems to encourage innovation and dissemination of technological innovation. In macroeconomic terms, companies already rec ...