The Policy Research Working Paper Series disseminates the findings of work in progress to encourage the exchange of ideas about development issues. An objective of the series is to get the findings out quickly, even if the presentations are less than fully polished. The papers carry the names of the authors and should be cited accordingly. The findings, interpretations, and conclusions expresse...

The text and data in this publication may be reproduced as long as the source is cited. Reproductions for commercial purposes are forbidden. The International Policy Centre for Inclusive Growth disseminates the findings of its work in progress to encourage the exchange of ideas about development issues. The papers are signed by the authors and should be cited accordingly. The findings, interpre...

A detailed survey of 498 “high tech” SMEs in the Netherlands shows process innovation by user firms to be common practice. Fifty four percent of these relatively small firms reported developing entirely novel process equipment or software for their own use and/or modifying these at significant private expense. Twenty five percent of the user innovations in our sample were transferred to commerc...

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The paper investigates the strategic behavior of hedge fund families. It focuses on decisions to start and liquidate family-member funds. Hedge fund families tend to liquidate funds that underperform compared to other member funds, and to replace them by new ones. By choosing a launch time after a short period of superior performance by their member funds, families extend the spillover to new f...

In this paper we provide a nonparametric treatment of identification in models with social spillovers. We consider a setting with ‘high’ and ‘low’ type individuals. Individual outcomes depend upon the fraction of high types in one’s group. We refer to this dependence as a social spillover or peer group effect. We define estimands measuring local and global spillover strength as well as the outc...

The public choice literature urges the welfare economist to anticipate how political forces will shape the levels of new policy instruments when government intervenes in a new way. This paper argues that the welfare economist should also recognize that new interventions may impact the politically determined levels of existing policy instruments. It shows how the introduction of a new instrument...

Wind power is the fastest growing renewable energy source in the United States. Existing empirical studies on the economic impact of wind power development have primarily relied on case studies and input-output models, which have limitations. This study instead uses a linear fixed effects model to estimate the county level effects of wind power in the Great Plains region of the United States fr...

There has been a steep deterioration in State finances during the last decade as evidenced by sharp increases in revenue, fiscal and primary deficits, increases in their indebtedness and contingent liabilities, and decline in capital and maintenance expenditures. Low buoyancy of central transfers and spillover of central pay revisions have had the most adverse impact on State finances. However,...