Intangible assets and investments at the sector level : empirical evidence for Germany

This paper investigates the role intangible capital plays for economic growth in different sectors in Germany. It consists of two major parts. In the first part, we aim at measuring investment in intangibles at the sector level. We shed light on differences across sectors but also compare these figures with investment in physical capital and with investment in intangibles in the UK as European benchmark. The second part explores the role of intangible assets for stimulating growth at the sector level by performing growth accounting analyses. We find that German firms have boosted investments in intangible capital from 1995-2006 by 30%. Furthermore, results reveal differences in the investment patterns among the UK and Germany. In nearly all sectors investments in design and computerized information are larger in the UK. In contrast, German firms invest a higher proportion of gross output in R&D in all sectors, and advertising is also more common except for the sector trade & transport. Intangible assets have stimulated labour productivity growth in all sectors. The contribution varies between 0.17 (construction) and 0.59 (manufacturing) percentage points. In manufacturing, financial and business services innovative property capital is the most influential type of intangible capital for labour productivity, followed by economic competencies and computerized information. In all other sectors, economic competencies play the most prominent role for labour productivity growth

Technical Change, Investment and Energy Intensity

Abstract in HTML and technical report in PDF available on the Massachusetts Institute of Technology Joint Program on the Science and Policy of Global Change website (http://mit.edu/globalchange/www/).This paper analyzes the role of different components of technical change on energy intensity by applying a Translog variable cost function setting to the new EU KLEMS dataset for 3 selected EU countries (Italy, Finland and Spain). The framework applied represents an accounting of technical change components, comprising autonomous as well as embodied and induced technical change. The inducement of embodied technical change is introduced by an equation for the physical capital stock that is a fixed factor in the short-run. The dataset on capital services and user costs of capital in EUKLEMS enables explaining capital accumulation depending on factor prices. The model can be used for explaining and tracing back the long-run impact of prices and technical change on energy intensity.This paper is based on the EU KLEMS database, which has been funded by the European Commission, Research Directorate General as part of the 6th Framework Programme, Priority 8, “Policy Support and Anticipating Scientific and Technological Needs” (project 502049)

Assessment of Connections Between Knowledge- Based Economy Characteristics and Selected Macroeconomic Categories in the European Union's Countries by Means of Panel Models

The aim of the article is to analyze the impact of knowledge-based economy variables on the selected macroeconomic categories - the share of total investments in GDP and the employment rate- in European Union's countries in the years 2000-2007, conducted with application of panel models.Celem artykułu jest analiza wpływu zmiennych opisujących gospodarkę opartą na wiedzy na podstawowe kategorie makroekonomiczne - udział całkowitych inwestycji w PKB i stopę zatrudnienia - w krajach Unii Europejskiej (z podziałem na kraje UE-15 i nowe kraje członkowskie UE) w latach 2000-2007, przeprowadzona w oparciu o modele panelowe

On the appearance of Eisenstein series through degeneration

Let $\Gamma$ be a Fuchsian group of the first kind acting on the hyperbolic upper half plane $\mathbb H$, and let $M = \Gamma \backslash \mathbb H$ be the associated finite volume hyperbolic Riemann surface. If $\gamma$ is parabolic, there is an associated (parabolic) Eisenstein series, which, by now, is a classical part of mathematical literature. If $\gamma$ is hyperbolic, then, following ideas due to Kudla-Millson, there is a corresponding hyperbolic Eisenstein series. In this article, we study the limiting behavior of parabolic and hyperbolic Eisenstein series on a degenerating family of finite volume hyperbolic Riemann surfaces. In particular, we prove the following result. If $\gamma \in \Gamma$ corresponds to a degenerating hyperbolic element, then a multiple of the associated hyperbolic Eisenstein series converges to parabolic Eisenstein series on the limit surface.Comment: 15 pages, 2 figures. This paper has been accepted for publication in Commentarii Mathematici Helvetic

Analysis of the Honeywell Uncertified Research Engine (HURE) with Ice Crystal Cloud Ingestion at Simulated Altitudes: Public Version

The Honeywell Uncertified Research Engine (HURE), a research version of a turbofan engine that never entered production, was tested in the NASA Propulsion System Laboratory (PSL), an altitude test facility at the NASA Glenn Research Center. The PSL is a facility that is equipped with water spray bars capable of producing an ice cloud consisting of ice particles, having a controlled particle diameter and concentration in the air flow. In preparation for testing of the HURE, numerical analysis of flow and ice particle thermodynamics was performed on the compression system of the turbofan engine to predict operating conditions that could potentially result in a risk of ice accretion due to ice crystal ingestion. The results of those analyses formed the basis of the test matrix. The goal of the test matrix was to have ice accrete in two regions of the compression system: region one, which consists of the fan-stator through the inlet guide vane (IGV), and region two which is the first stator within the high pressure compressor. The predictive analyses were performed with the mean line compressor flow modeling code (COMDES-MELT) which includes an ice particle model. Together these comprise a one-dimensional icing tool. The HURE engine was tested in PSL with the ice cloud over the range of operating conditions of altitude, ambient temperature, simulated flight Mach number, and fan speed with guidance from the analytical predictions. The engine was fitted with video cameras at strategic locations within the engine compression system flow path where ice was predicted to accrete, in order to visually confirm ice accretion when it occurred. In addition, traditional compressor instrumentation such as total pressure and temperature probes, static pressure taps, and metal temperature thermocouples were installed in targeted areas where the risk of ice accretion was expected. The current research focuses on the analysis of the data that was obtained after testing the HURE engine in PSL with ice crystal ingestion. The computational method was enhanced by computing key parameters through the fan-stator at multiple spanwise locations, in order to increase the fidelity with the current mean-line method. In addition, other sources of heat (non-adiabatic walls) were suspected to be the cause of accretion near the splitter-lip and shroud. Since there were no thermocouples near the splitter, a simple order of magnitude heat transfer model was implemented to estimate the wall temperature. Future analyses will require a higher fidelity thermal analysis of the compression system metal walls to accurately calculate the total heat flux to the ice particle. For many data points analyzed, there were differences between the thermodynamic system model and the measured test data that may partially be responsible for uncertainties with the results of the current analyses

Analysis of the Honeywell Uncertified Research Engine (HURE) with Ice Crystal Cloud Ingestion at Simulated Altitudes

The Honeywell Uncertified Research Engine (HURE), a research version of a turbofan engine that never entered production, was tested in the NASA Propulsion System Laboratory (PSL), an altitude test facility at the NASA Glenn Research Center. The PSL is a facility that is equipped with water spray bars capable of producing an ice cloud consisting of ice particles, having a controlled particle diameter and concentration in the air flow. To develop the test matrix of the HURE, numerical analysis of flow and ice particle thermodynamics was performed on the compression system of the turbofan engine to predict operating conditions that could potentially result in a risk of ice accretion due to ice crystal ingestion. The goal of the test matrix was to have ice accrete in two regions of the compression system: region one, which consists of the fan-stator through the inlet guide vane (IGV), and region two which is the first stator within the high pressure compressor. The predictive analyses were performed with the mean line compressor flow modeling code (COMDES-MELT) which includes an ice particle model. The HURE engine was tested in PSL with the ice cloud over the range of operating conditions of altitude, ambient temperature, simulated flight Mach number, and fan speed with guidance from the analytical predictions. The engine was fitted with video cameras at strategic locations within the engine compression system flow path where ice was predicted to accrete, in order to visually confirm ice accretion when it occurred. In addition, traditional compressor instrumentation such as total pressure and temperature probes, static pressure taps, and metal temperature thermocouples were installed in targeted areas where the risk of ice accretion was expected. The current research focuses on the analysis of the data that was obtained after testing the HURE engine in PSL with ice crystal ingestion. The computational method (COMDES-MELT) was enhanced by computing key parameters through the fan- stator at multiple span wise locations, in order to increase the fidelity with the current mean-line method. The Icing Wedge static wet bulb temperature thresholds were applicable for determining the risk of ice accretion in the fan-stator, which is thought to be an adiabatic region. At some operating conditions near the splitter-lip region, other sources of heat (non-adiabatic walls) were suspected to be the cause of accretion, and the Icing Wedge was not applicable to predict accretion at that location. A simple order-of-magnitude heat transfer model was implemented into the COMDES-MELT code to estimate the wall temperature minimum and maximum thresholds that support ice accretion, as observed by video confirmation. The results from this model spanned the range of wall temperatures measured on a previous engine that experienced ice accretion at certain operating conditions

Worker remittances and the global preconditions of ‘smart development’

With the growing environmental crisis affecting our globe, ideas to weigh economic or social progress by the ‘energy input’ necessary to achieve it are increasingly gaining acceptance. This question is intriguing and is being dealt with by a growing number of studies, focusing on the environmental price of human progress. Even more intriguing, however, is the question of which factors of social organization contribute to a responsible use of the resources of our planet to achieve a given social result (‘smart development’). In this essay, we present the first systematic study on how migration – or rather, more concretely, received worker remittances per GDP – helps the nations of our globe to enjoy social and economic progress at a relatively small environmental price. We look at the effects of migration on the balance sheets of societal accounting, based on the ‘ecological price’ of the combined performance of democracy, economic growth, gender equality, human development, research and development, and social cohesion. Feminism in power, economic freedom, population density, the UNDP education index as well as the receipt of worker remittances all significantly contribute towards a ‘smart overall development’, while high military expenditures and a high world economic openness are a bottleneck for ‘smart overall development’

The effects of financialisation and financial development on investment: Evidence from firm-level data in Europe

In this paper we estimate the effects of financialization on physical investment in selected western European countries using panel data based on the balance-sheets of publicly listed non-financial companies (NFCs) supplied by Worldscope for the period 1995-2015. We find robust evidence of an adverse effect of both financial payments (interests and dividends) and financial incomes on investment in fixed assets by the NFCs. This finding is robust for both the pool of all Western European firms and single country estimations. The negative impacts of financial incomes are non-linear with respect to the companies’ size: financial incomes crowd-out investment in large companies, and have a positive effect on the investment of only small, relatively more credit-constrained companies. Moreover, we find that a higher degree of financial development is associated with a stronger negative effect of financial incomes on companies’ investment. This finding challenges the common wisdom on ‘finance-growth nexus’. Our findings support the ‘financialization thesis’ that the increasing orientation of the non-financial sector towards financial activities is ultimately leading to lower physical investment, hence to stagnant or fragile growth, as well as long term stagnation in productivity

Measuring creativity in software development

Abstract. Creativity involves choosing to direct resources toward developing novel ideas. Information technology development, including software engineering, requires creative discourse among team members to design and implement a novel, competitive product that meets usability, performance, and functional requirements set by the customer. In this paper, we present results that correlate metrics of creative collaboration with successful software product development in a Senior Software Projects class that is a capstone course in accredited Computer Science programs. An idea management and reward system, called SEREBRO, provides measurement opportunities to develop metrics of fluency, flexibility, originality, elaboration, and overall creativity. These metrics incorporate multiple perspectives and sources of information into the measurement of creativity software design. The idea management portion of SEREBRO is a Web application that allows team members to initiate asynchronous, creative discourse through the use of threads. Participants are rewarded for brainstorming activities that start new threads for creative discourse and spinning new ideas from existing ones

Generalization of the coupled dipole method to periodic structures

We present a generalization of the coupled dipole method to the scattering of light by arbitrary periodic structures. This new formulation of the coupled dipole method relies on the same direct-space discretization scheme that is widely used to study the scattering of light by finite objects. Therefore, all the knowledge acquired previously for finite systems can be transposed to the study of periodic structures.Comment: 5 pages, 2 figures, and 1 tabl