In this paper, we analyze the extent to which low-income countries integrate into the global know... more In this paper, we analyze the extent to which low-income countries integrate into the global knowledge production network. We develop an (undirected) research collaboration model based on which we identify the drivers of global research collaboration using publication data of the field Business and Economics from the Web of Science and macroeconomic data from the United Nations Educational, Scientific and Cultural Organization Institute for Statistics. Network and dynamic panel regression techniques are employed. Our results show that (i) reciprocal preferential attachment and the homophily between countries reinforce scientific collaboration, (ii) there is no evidence that low-income countries are becoming better integrated into the global knowledge production over the years, despite their active participation in international reserach collaboration, while (iii) high-income countries show a basic willingness to cooperate with them, which, in turn, promotes the integration of low-in...
Entrepreneurship : a new perspective. - London u.a. : Routledge, 2004. - XX, 203 S. - (Studies in... more Entrepreneurship : a new perspective. - London u.a. : Routledge, 2004. - XX, 203 S. - (Studies in global competition ; 22). - Zugl.: Augsburg, Univ., Diss., 200
This paper argues that the typical practice of performing growth decompositions based on log-tran... more This paper argues that the typical practice of performing growth decompositions based on log-transformed productivity values induces fallacious conclusions: using logs may lead to an inaccurate aggregate growth rate, an inaccurate description of the microsources of aggregate growth, or both. We identify the mathematical sources of this log-induced fallacy in decomposition and analytically demonstrate the questionable reliability of log results. Using firm-level data from the French manufacturing sector during the 2009-2018 period, we empirically show that the magnitude of the log-induced distortions is substantial. Depending on the definition of accurate log measures, we find that around 60-80% of four-digit industry results are prone to mismeasurement. We further find significant correlations of this mismeasurement with commonly deployed industry characteristics, indicating, among other things, that less competitive industries are more prone to log distortions. Evidently, these cor...
HAL is a multi-disciplinary open access archive for the deposit and dissemination of sci-entific ... more HAL is a multi-disciplinary open access archive for the deposit and dissemination of sci-entific research documents, whether they are pub-lished or not. The documents may come from teaching and research institutions in France or abroad, or from public or private research centers. L’archive ouverte pluridisciplinaire HAL, est destinée au dépôt et a ̀ la diffusion de documents scientifiques de niveau recherche, publiés ou non, émanant des établissements d’enseignement et de recherche français ou étrangers, des laboratoires publics ou privés.
Background—Percutaneous aortic valve replacement (PAVR) for aortic stenosis is an attractive alte... more Background—Percutaneous aortic valve replacement (PAVR) for aortic stenosis is an attractive alternative to operative valve replacement. Several devices are evaluated, but their efficacy and safety are critically discussed. An interdisciplinary approach with collaboration of cardiac surgeons and cardiologists is widely requested. We analyzed how cardiologists and cardiac surgeons assess the possibilities and risks of PAVR and whether there are substantial differences between the judgments of these 2 groups. Methods and Results—Fifty-one cardiologists and 54 cardiac surgeons from German hospitals completed an online questionnaire consisting of 11 questions dealing with typical risks and benefits of PAVR. Answers to all questions differed significantly between surgeons and cardiologists. Risks as impaired hemodynamic outcome, paravalvular leakage, or embolic events were deemed higher for PAVR than for an operation from both groups, but cardiologists rated those risks significantly low...
Background In this paper, we try to shed light on the question whether natural disasters, such as... more Background In this paper, we try to shed light on the question whether natural disasters, such as nuclear accidents, have an impact on policy makers’ activity in passing new green energy policies. Disruptive moments like exogenous shocks reinforce society’s disapproval against polluting technologies and should open a window of opportunities to eventually initiate a change toward green energy. Methods Based on the data of 34 OECD countries, we disentangle the effect of disruptive exogenous shocks on countries’ policy activity. Starting with OLS regressions, we run several robustness checks by using a pre-sample mean approach, an ARDL technique called dynamic heterogeneous panel models (DHPM), which allows for the distinction between long- and short-run effects. Results The results corroborate the hypothesis that unexpected, disruptive events have a positive impact on the actual number of renewable energy policies. The fade-out time for shocks is about 7 years, leaving a positive long...
Part 1: The Critical Path of the Entrepreneur in Economic Theory 1. A Historical Sketch of the Re... more Part 1: The Critical Path of the Entrepreneur in Economic Theory 1. A Historical Sketch of the Research on Entrepreneurship 2. The Neoclassical Era 3. The Austrian School 4. Synthesis and Summary Part 2: From the Evolution of Economics to the Economics of Evolution 5. Evolutionary Economics 6. Synthesis of Evolutionary Ideas Part 3: Modelling Entrepreneurship from an Evolutionary Perspective 7. Point of Departure 8. The Homo Agens in a Socio-Economic Context 9. The Model 10. Conclusions and Prospects
Financial markets mirror the evolution of real economic industries as much as they influence them... more Financial markets mirror the evolution of real economic industries as much as they influence them reciprocally. In this paper we show an approach how to connect both. We will focus on the impact of industrial dynamics on financial markets. Real economic sectors as well as financial markets will be modelled using agent-based modelling techniques. Boundedly rational agents build up the endogenous evolution of an entrepreneurially driven industry, thereby substantiating the role of knowledge diffusion. Boundedly rational investors in the financial market learn about new industries and trade the corresponding shares. The complete model will be set up as a modular system which will allow investigating various scenarios.
In this paper, we analyze the extent to which low-income countries integrate into the global know... more In this paper, we analyze the extent to which low-income countries integrate into the global knowledge production network. We develop an (undirected) research collaboration model based on which we identify the drivers of global research collaboration using publication data of the field Business and Economics from the Web of Science and macroeconomic data from the United Nations Educational, Scientific and Cultural Organization Institute for Statistics. Network and dynamic panel regression techniques are employed. Our results show that (i) reciprocal preferential attachment and the homophily between countries reinforce scientific collaboration, (ii) there is no evidence that low-income countries are becoming better integrated into the global knowledge production over the years, despite their active participation in international reserach collaboration, while (iii) high-income countries show a basic willingness to cooperate with them, which, in turn, promotes the integration of low-in...
Entrepreneurship : a new perspective. - London u.a. : Routledge, 2004. - XX, 203 S. - (Studies in... more Entrepreneurship : a new perspective. - London u.a. : Routledge, 2004. - XX, 203 S. - (Studies in global competition ; 22). - Zugl.: Augsburg, Univ., Diss., 200
This paper argues that the typical practice of performing growth decompositions based on log-tran... more This paper argues that the typical practice of performing growth decompositions based on log-transformed productivity values induces fallacious conclusions: using logs may lead to an inaccurate aggregate growth rate, an inaccurate description of the microsources of aggregate growth, or both. We identify the mathematical sources of this log-induced fallacy in decomposition and analytically demonstrate the questionable reliability of log results. Using firm-level data from the French manufacturing sector during the 2009-2018 period, we empirically show that the magnitude of the log-induced distortions is substantial. Depending on the definition of accurate log measures, we find that around 60-80% of four-digit industry results are prone to mismeasurement. We further find significant correlations of this mismeasurement with commonly deployed industry characteristics, indicating, among other things, that less competitive industries are more prone to log distortions. Evidently, these cor...
HAL is a multi-disciplinary open access archive for the deposit and dissemination of sci-entific ... more HAL is a multi-disciplinary open access archive for the deposit and dissemination of sci-entific research documents, whether they are pub-lished or not. The documents may come from teaching and research institutions in France or abroad, or from public or private research centers. L’archive ouverte pluridisciplinaire HAL, est destinée au dépôt et a ̀ la diffusion de documents scientifiques de niveau recherche, publiés ou non, émanant des établissements d’enseignement et de recherche français ou étrangers, des laboratoires publics ou privés.
Background—Percutaneous aortic valve replacement (PAVR) for aortic stenosis is an attractive alte... more Background—Percutaneous aortic valve replacement (PAVR) for aortic stenosis is an attractive alternative to operative valve replacement. Several devices are evaluated, but their efficacy and safety are critically discussed. An interdisciplinary approach with collaboration of cardiac surgeons and cardiologists is widely requested. We analyzed how cardiologists and cardiac surgeons assess the possibilities and risks of PAVR and whether there are substantial differences between the judgments of these 2 groups. Methods and Results—Fifty-one cardiologists and 54 cardiac surgeons from German hospitals completed an online questionnaire consisting of 11 questions dealing with typical risks and benefits of PAVR. Answers to all questions differed significantly between surgeons and cardiologists. Risks as impaired hemodynamic outcome, paravalvular leakage, or embolic events were deemed higher for PAVR than for an operation from both groups, but cardiologists rated those risks significantly low...
Background In this paper, we try to shed light on the question whether natural disasters, such as... more Background In this paper, we try to shed light on the question whether natural disasters, such as nuclear accidents, have an impact on policy makers’ activity in passing new green energy policies. Disruptive moments like exogenous shocks reinforce society’s disapproval against polluting technologies and should open a window of opportunities to eventually initiate a change toward green energy. Methods Based on the data of 34 OECD countries, we disentangle the effect of disruptive exogenous shocks on countries’ policy activity. Starting with OLS regressions, we run several robustness checks by using a pre-sample mean approach, an ARDL technique called dynamic heterogeneous panel models (DHPM), which allows for the distinction between long- and short-run effects. Results The results corroborate the hypothesis that unexpected, disruptive events have a positive impact on the actual number of renewable energy policies. The fade-out time for shocks is about 7 years, leaving a positive long...
Part 1: The Critical Path of the Entrepreneur in Economic Theory 1. A Historical Sketch of the Re... more Part 1: The Critical Path of the Entrepreneur in Economic Theory 1. A Historical Sketch of the Research on Entrepreneurship 2. The Neoclassical Era 3. The Austrian School 4. Synthesis and Summary Part 2: From the Evolution of Economics to the Economics of Evolution 5. Evolutionary Economics 6. Synthesis of Evolutionary Ideas Part 3: Modelling Entrepreneurship from an Evolutionary Perspective 7. Point of Departure 8. The Homo Agens in a Socio-Economic Context 9. The Model 10. Conclusions and Prospects
Financial markets mirror the evolution of real economic industries as much as they influence them... more Financial markets mirror the evolution of real economic industries as much as they influence them reciprocally. In this paper we show an approach how to connect both. We will focus on the impact of industrial dynamics on financial markets. Real economic sectors as well as financial markets will be modelled using agent-based modelling techniques. Boundedly rational agents build up the endogenous evolution of an entrepreneurially driven industry, thereby substantiating the role of knowledge diffusion. Boundedly rational investors in the financial market learn about new industries and trade the corresponding shares. The complete model will be set up as a modular system which will allow investigating various scenarios.
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Papers by Thomas Grebel