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  • 1
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    Ispra: European Commission, Joint Research Centre (JRC)
    Publication Date: 2019-08-28
    Description: Although, the need for an efficient Roma integration policy is growing in Europe, surprisingly little robust scientific evidence regarding potential policy costs and expected benefits of alternative policy options has supported the policy design and implementation so far. The present study attempts to narrow this evidence gap and aims to shed light on long-run economic, budgetary and fiscal effects of selected education and employment policies for the inclusion of the marginalised Roma in the EU. We employ a general equilibrium approach that allows us to assess not only the direct impact of alternative Roma integration policies but also to capture all induced feedback effects. Our simulation results suggest that, although Roma integration policies would be costly for the public budget, in the medium- to long-run, economic, budgetary and fiscal benefits may significantly outweigh short- to medium-run Roma integration costs. Depending on the integration policy scenario and the analysed country, the full repayment of the integration policy investment (positive net present value) may be achieved after 7 to 9 years. In terms of the GDP, employment and earnings, the universal basic income scenario may have the highest potential, particularly in the medium- to long-run.
    Keywords: I32 ; J6 ; J11 ; J24 ; O17 ; O43 ; ddc:330 ; Roma ; social marginalisation ; education ; labour market ; integration policy ; universal basic income
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
    Type: doc-type:workingPaper
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  • 2
    Publication Date: 2019-08-28
    Description: This study empirically examines interdependencies between BitCoin and altcoin markets in the short- and long-run. We apply time-series analytical mechanisms to daily data of 17 virtual currencies (BitCoin + 16 alternative virtual currencies) and two Altcoin price indices for the period 2013-2016. Our empirical findings confirm that indeed BitCoin and Altcoin markets are interdependent. The BitCoin-Altcoin price relationship is significantly stronger in the short-run than in the long-run. We cannot fully confirm the hypothesis that the BitCoin price relationship is stronger with those Altcoins that are more similar in their price formation mechanism to BitCoin. In the long-run, macro-financial indicators determine the altcoin price formation to a greater degree than BitCoin does. The virtual currency supply is exogenous and therefore plays only a limited role in the price formation.
    Keywords: E31 ; E42 ; G12 ; ddc:330 ; BitCoin ; altcoins ; virtual currencies ; price formation ; supply ; demand ; macroeconomic development
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
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  • 3
    Publication Date: 2020-01-10
    Description: This paper investigates the impact of corporate research and development (R&D) on firm performance in the food-processing industry. We apply Data Envelopment Analysis (DEA) with two step bootstrapping using a corporate data for 307 food-processing firms from the EU, US, Canada and Japan for the period 1991-2009. The estimates suggest that R&D has a positive effect on the firms’ performance, with marginal gains decreasing in the R&D level as well as the performance differences are detected across regions and food sectors. R&D investments in food processing can deliver productivity gains, beyond the high-tech sectors generally favoured by innovation policy.
    Keywords: O30 ; L66 ; ddc:330 ; Corporate R&D ; DEA ; double bootstrapping ; food-processing industry
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
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  • 4
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    Leuven: Katholieke Universiteit Leuven, LICOS Centre for Institutions and Economic Performance
    Publication Date: 2019-02-04
    Description: This is the first paper that estimates the global land use change impact of growth of the bioenergy sector. Applying time-series analytical mechanisms to fuel, biofuel and agricultural commodity prices and production, we estimate the long-rung relationship between energy prices, bioenergy production and the global land use change. Our results suggest that rising energy prices and bioenergy production significantly contribute to the global land use change both through the direct and indirect land use change impact. Globally, the total agricultural area yearly increases by 35578.1 thousand ha due to increasing oil price, and by 12125.1 thousand ha due to increasing biofuel production, which corresponds to 0.73% and 0.25% of the total world-wide agricultural area, respectively. Soya land use change and wheat land use change have the highest elasticities both with respect to oil price and biofuel production. In contrast, non-biomass crops (grassland and rice) have negative land use change elasticities. Region-specific results suggest that South America faces the largest yearly total land use change associated with oil price increase (+10600.7 thousand ha), whereas Asia (+8918.6 thousand ha), South America (+4024.9 thousand ha) and North America (+1311.5 thousand ha) have the largest yearly total land use change associated with increase in biofuel production.
    Keywords: C14 ; C22 ; C51 ; D58 ; Q11 ; Q13 ; Q42 ; ddc:330 ; Land use change ; bioenergy ; commodity prices ; biofuel support policies
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
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  • 5
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    Leuven: Katholieke Universiteit Leuven, LICOS Centre for Institutions and Economic Performance
    Publication Date: 2019-02-04
    Description: This is the first paper to analyze the impact of biofuels on the price transmission along the food chain. We analyze the U.S. corn sector and its vertical links with food and ethanol (energy) markets. We find that biofuels affect the price transmission elasticity in the food chain compared to a no biofuel production situation but the effect depends on the source of the market shock and the policy regime: the price transmission elasticity declines under a binding blender's tax credit and a food market shock. Our results also indicate that the response of corn and food prices to shocks in the corn and/or food markets is lower in the presence of biofuels. Finally, the sensitivity analyses indicate that our results are robust to different assumptions about the model parameters.
    Keywords: Q11 ; Q21 ; ddc:330 ; price transmission ; food chain ; biofuels ; prices
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
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  • 6
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    Leuven: Katholieke Universiteit Leuven, LICOS Centre for Institutions and Economic Performance
    Publication Date: 2019-02-04
    Description: This is the first paper to study job creation and destruction in EU agriculture. We disaggregate gross employment patterns and net job flows into detailed intra-sectoral labour adjustment dynamics based on a unique EU-wide firm level panel dataset for 1990-2005. We find that: (1) job creation and destruction rates in EU agriculture are comparable to other sectors; (2) there is some evidence of ongoing substitution of family labour for hired labour (3) there are important differences in job creation and destruction rates between different Member States; (4) these differences can be attributed to structural differences across countries, sectors and firm types; (5) time variation of job reallocation fluctuates countercyclically; (6) idiosyncratic effects are the main driver of time variance in job reallocation.
    Keywords: ddc:330 ; Job creation ; job destruction ; FADN ; EU ; labour adjustment in agriculture ; Beschäftigung ; Arbeitsmobilität ; Landwirtschaft ; EU-Staaten
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
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  • 7
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    Leuven: Katholieke Universiteit Leuven, LICOS Centre for Transition Economics
    Publication Date: 2019-02-04
    Keywords: ddc:330 ; Bodenmarkt ; Bodenpreis ; EU-Agrarpolitik ; EU-Erweiterung ; Theorie ; EU-Staaten (Osteuropa)
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
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  • 8
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    Leuven: Katholieke Universiteit Leuven, LICOS Centre for Institutions and Economic Performance
    Publication Date: 2019-02-04
    Description: Recently, the European Commission has proposed to introduce a new mi- gration policy instrument - Blue Cards - to attract highly skilled workers from abroad by lifting labour market restrictions, offering financial and housing ben- efits. The excludability character of human capital suggests that what is benefi- cial for receiving countries might be hfirmful for sending countries. This article investigates if and why high-skill migration in general and Blue Card scheme in particular might be hfirmful for sending countries. We find that the proposed Blue Card scheme makes the developing country growth prospects indeed blue. However, compared to other firms of labour migration, the upcoming Blue Card scheme is known well in advance. Analysing alternative policy options we show that, taking advantage of this ex-ante infirmation, targeted and timed policy interventions can minimise the adverse impacts of high-skill emigration. Thus, compared to other migration regimes Blue Cards are worse for sending countries, but they offer better opportunities for them to avoid the adverse impacts.
    Keywords: F02 ; F22 ; ddc:330 ; High-skill migration ; innovative capital ; economic growth ; Brain Drain ; Standortwettbewerb ; Migrationspolitik ; Wirtschaftswachstum ; EU-Staaten
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
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  • 9
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    Leuven: Katholieke Universiteit Leuven, LICOS Centre for Institutions and Economic Performance
    Publication Date: 2019-02-04
    Description: The main objective of the present paper is to estimate the extent to which firm investment is substituted (crowded-out) by investment support policies granted under the EU Rural Development Programme (RDP). In the empirical analyses we employ the difference-in-difference propensity score matching approach, which allows us to address several important sources of bias, such as selection bias, the simultaneity bias, and functional form misspecification, from which many previous studies suffer. Using panel data of 1,333 firms from the Schleswig-Holstein region in Germany, we find that the crowding-out effect of the RDP is close to 100%, implying that firms use public support to substitute for private investments. Furthermore, no evidence was found that, due to RDP programme support, firms would have brought forward their investments planned originally in a later period, rejecting the f inter-temporal substitution of investments.
    Keywords: F1 ; O1 ; R3 ; R4 ; ddc:330 ; investment subsidy ; crowding-out ; substitution effect ; additionality ; subsidy leverage ; propensity score matching
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
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  • 10
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    Leuven: Katholieke Universiteit Leuven, LICOS Centre for Institutions and Economic Performance
    Publication Date: 2019-02-04
    Description: This paper estimates the capitalization of the Single Payment Scheme (SPS) into land values. The theory suggests that the relationship between the SPS and land rents is non-linear and discontinuous, because the SPS impact on land values depends on many factors, such as policy implementation details, market imperfections and institutional regulations. In empirical analysis we employ a unique firm-level panel data set, and apply the generalized propensity score (GPS) matching approach to estimate the capitalization of the SPS. Our results suggest that around 6 percent of the total SPS get capitalized into land rents. On average in the EU, the non-firming landowners' gains from the SPS are only 3 percent. However, there is a large variation in the capitalization rate for different SPS levels, and between Member States (between 0 and 58 percent).
    Keywords: Q12 ; Q18 ; ddc:330 ; decoupled subsidies ; capitalization ; land market ; income distributional effects ; selection bias
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
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