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DIW Discussion Papers 1278 / 2013
We investigate whether the willingness to take investment risk is a sex-linked trait and link the results to the country's gender equality regime. Our empirical analysis involves household data on financial asset holdings as well as on self-reported risk tolerance for Austria, Italy, the Netherlands and Spain. Of those countries, Italy is by far the country with the greatest degree of gender inequality ...
2013| Nataliya Barasinska, Dorothea Schäfer
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DIW Discussion Papers 1277 / 2013
Using annual bilateral data over the period 1988-2011 for a panel of 24 industrialised and emerging economies, we analyse in a time-varying framework the determinants of output synchronisation in EMU (European Monetary Union) distinguishing between core and peripheral member states. The results support the specialisation paradigm rather than the endogeneity hypothesis. Evidence is found in the euro ...
2013| Guglielmo Maria Caporale, Roberta De Santis, Alessandro Girardi
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DIW Discussion Papers 1276 / 2013
The international transmission of knowledge through import spillovers, as a source of TFP growth, has received much attention in the literature. We investigate two additional direct channels through which R&D disseminates: the import of high-technology goods and the internationalization of business R&D. Building on an extensive dataset, covering both developing and industrial countries, we add foreign ...
2013| Heike Belitz, Florian Mölders
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DIW Discussion Papers 1275 / 2013
The creation of the EU's Emission Trading Scheme (EU ETS) has turned the right to emit CO2 into a positively priced intermediate good for the affected firms. Firms thus face the decision whether to source compliance with the EU ETS within their boundaries or to acquire it through the permit trade. However, a combination of internal abatement, free permit allocation and exibility to shift the use of ...
2013| Aleksandar Zaklan
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DIW Discussion Papers 1274 / 2013
In this paper, we develop a market screening model to detect inconstancies in price changes. Although there is a long history of industrial organization research of collusion, price setting behavior, and conduct - a robust model to detect structural changes in market structure was missing so far. Our non-parametric approach closes this gap and can be used as a tentative warning system for emerging ...
2013| Korbinian von Blanckenburg, Marc Hanfeld, Konstantin A. Kholodilin
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DIW Discussion Papers 1273 / 2013
In this paper, we use the Global Gas Model to analyze the perspectives and infrastructure needs of the European natural gas market until 2050. Three pathways of natural gas consumption in a future low-carbon energy system in Europe are envisaged: i) a decreasing natural gas consumption, along the results of the PRIMES model for the EMF decarbonization scenarios; ii) a moderate increase of natural gas ...
2013| Franziska Holz, Philipp M. Richter, Ruud Egging
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DIW Discussion Papers 1272 / 2013
The self-employment rate includes entrepreneurs out of opportunity and entrepreneurs out of necessity. While the effect of opportunity entrepreneurs on economic development should be positive, there should be no or a negative effect of necessity entrepreneurship. We use a geographically weighted regression (GWR) approach to analyze whether the effect of self-employment on economic development is heterogeneous ...
2013| Katharina Pijnenburg
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DIW Discussion Papers 1271 / 2013
In the European Emissions Trading System, power generators hold CO2 allowances to hedge for future power sales. First, we model their aggregate hedging demand in response to changes in expectations of future fuel, carbon and power prices from forward prices. This partial equilibrium analysis is then integrated into a two period model of the supply and demand of CO2 allowances considering also emissions ...
2013| Anne Schopp, Karsten Neuhoff
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DIW Discussion Papers 1270 / 2013
Spatial heterogeneity and spatial dependence are two well established aspects of house price developments. However, the analysis of differences in spatial dependence across time and space has not gained much attention yet. In this paper we jointly analyze these three aspects of spatial data. We apply a panel smooth transition regression model that allows for heterogeneity across time and space in spatial ...
2013| Katharina Pijnenburg
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DIW Discussion Papers 1269 / 2013
Die Bedeutung regionaler Unterschiede des Preisniveaus wird in den Wirtschaftswissenschaften unterschätzt. Lediglich in Form von "Mietspiegeln" werden regionale Preisniveauunterschiede lebensweltlich berücksichtigt. Wie experimentelle Berechnungen des Bundesinstituts für Bau-, Stadt- und Raumforschung (BBSR) zeigen, gibt es in Deutschland gegenwärtig nennenswerte Preisniveauunterschiede auf der Ebene ...
2013| Heinz Vortmann, Jan Goebel, Peter Krause, Gert G. Wagner
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DIW Discussion Papers 1268 / 2013
EMELIE-ESY is a partial equilibrium model with focus on electricity markets. Private investors optimize their generation capacity investment and dispatch over the horizon 2010 to 2050. In the framework of the Energy Modeling Forum 28, we investigate how climate policy regimes affect market developments under different technology availabilities and climate policies on the European power markets. The ...
2013| Andreas Schröder, Thure Traber, Claudia Kemfert
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DIW Discussion Papers 1267 / 2013
This paper investigates whether male soccer tradition can predict the success of female soccer. Different from the existing literature, this paper utilizes panel data covering 175 countries during the 1991-2011 period, capturing country heterogeneity effects and time trends. An instrumental variable approach is further employed in order to identify causal relation. My findings do not support the widespread ...
2013| Seo-Young Cho
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DIW Discussion Papers 1266 / 2013
Theoretical work based on social identity theory and in-group favoritism predicts that increased population diversity (e.g., due to immigration) reduces support for redistributive public policies. In this article, we add to the empirical literature testing this prediction in three ways. First, rather than ethno-linguistic or racial heterogeneity, we analyze religious diversity, which in many countries ...
2013| Ronny Freier, Benny Geys, Joshua Holm
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DIW Discussion Papers 1265 / 2013
We exploit migration patterns from the UK to Australia, South Africa, and the US to investigate whether a person's decision to smoke is determined by culture. For each country, we use retrospective data to describe individual smoking trajectories over the life-course. For the UK, we use these trajectories to measure culture by cohort and cohort-age, and more accurately relative to the extant literature. ...
2013| Rebekka Christopoulou, Dean R. Lillard
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DIW Discussion Papers 1264 / 2013
Despite high economic growth during the last decades, China is still vulnerable to shocks arising from industrial states. The advanced economies determine Chinese export performance, with subsequent effects on output growth. Using a production function approach, this paper examines to which extent regional GDP growth in China is export driven. In a panel of 28 Chinese provinces, series are splitted ...
2013| Christian Dreger, Yanqun Zhang
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DIW Discussion Papers 1263 / 2013
Chinese companies have become major technology producers, with the largest share of their output exported. This paper examines the development of solar PV and wind energy technology component (WETC) exports from China and the competitive position of the country`s renewable energy industry. We also describe the government's renewable energy policy and its success in renewable electricity generation ...
2013| Jing Cao, Felix Groba
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DIW Discussion Papers 1262 / 2012
This paper studies the importance of politician's qualification, in terms of education and experience, for fiscal outcomes. The analysis is based on a large panel for 2,031 German municipalities for which we have collected information on municipal budgets as well as the election results and qualification levels of mayoral candidates. We principally use a Regression Discontinuity Design focusing on ...
2012| Ronny Freier, Sebastian Thomasius
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DIW Discussion Papers 1261 / 2012
The North and Baltic Sea Grid is one of the largest pan-European infrastructure projects raising high hopes regarding the potential of harnessing large amounts of renewable electricity, but also concerns about the implementation in largely nationally dominated regulatory regimes. The paper develops three idealtype development scenarios and quantifies the technical-economic effects: i) the Status quo ...
2012| Jonas Egerer, Friedrich Kunz, Christian von Hirschhausen
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DIW Discussion Papers 1260 / 2012
A shortage of skilled labor and low female labor market participation are problems many developed countries have to face. Beside activating inactive women, one possible solution is to support the re-integration of unemployed women. Due to female-specific labor market constraints (preferences for exible working hours, discrimination), this is a difficult task, and the question arises whether active ...
2012| Marco Caliendo, Steffen Künn
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DIW Discussion Papers 1259 / 2012
Identification of shocks of interest is a central problem in structural vector autoregressive (SVAR) modelling. Identification is often achieved by imposing restrictions on the impact or long-run effects of shocks or by considering sign restrictions for the impulse responses. In a number of articles changes in the volatility of the shocks have also been used for identification. The present study focusses ...
2012| Helmut Lütkepohl