This paper shows that politicians’ pressure to climb the career ladder increases bank risk exposure in their region. Chinese local politicians are set growth targets in their region that are relative to each other. Growth is stimulated by debt ...
2018| Li Wang, Lukas Menkhoff, Michael Schröder, Xian Xu
Although the proportion of students enrolled in college increased in the last decades, students from non-college family backgrounds remain underrepresented in higher education around the world. This study sheds light on whether the provision of ...
2018| Frauke H. Peter, C. Katharina Spieß, Vaishali Zambre
Using electricity for heating can contribute to decarbonization and provide flexibility to integrate variable renewable energy. We analyze the case of electric storage heaters in German 2030 scenarios with an open-source electricity sector model. ...
This paper analyzes links between institutional harmonization and bilateral portfolio debt and equity holdings at the sectoral level. Motivated by the action plan for the European Capital Markets Union, we examine the potential for legal ...
Die „Erzbergerschen Steuer- und Finanzreformen“ 1919/20 haben das deutsche Steuer- und Finanzsystem nahezu vollständig umgestaltet, modernisiert und stark ausgebaut. Wesentliche Elemente dieser Reformen haben bis heute Bestand– die Grundstrukturen ..
Distributed photo-voltaic (PV) generation is one of the pillars of energy transitions around the world, but its deployment in the distribution grid requires costly reinforcements and expansions. Prosumage - consisting of a household-level PV unit ...
2018| Paul Neetzow, Roman Mendelevitch, Sauleh Siddiqui
Short-term electricity markets are key to an efficient production by generation units. We develop a two-period model to assess different bidding formats to determine for each bidding format the optimal bidding strategy of competitive generators ...
2018| Jörn C. Richstein, Casimir Lorenz, Karsten Neuhoff
Tests for identification through heteroskedasticity in structural vector autoregressive analysis are developed for models with two volatility states where the time point of volatility change is known. The tests are Wald type tests for which only the
2018| Helmut Lütkepohl, Mika Meitz, Aleksei NetŠunajev, Pentti Saikkonen
The human personality predicts a wide range of activities and occupational choices—from musical sophistication to entrepreneurial careers. However, which method should be applied if information on personality traits is used for prediction and advice?
Methods for constructing joint confidence bands for impulse response functions which are commonly used in vector autoregressive analysis are reviewed. While considering separate intervals for each horizon individually still seems to be the most ...
2018| Helmut Lütkepohl, Anna Staszewska-Bystrova, Peter Winker
This paper considers a fundamental question about the school environment – what are the long run effects of a student’s ordinal rank in elementary school? Using administrative data from all public school students in Texas, we show that students with
2018| Jeffrey T. Denning, Richard Murphy, Felix Weinhardt
This paper studies the extent to which working couples can insure one another against cyclical fluctuations in the labor market and examines the implications of joint household decision-making for cyclical fluctuations in the unemployment rate. For .
With the increasing frequency and intensity of extreme weather events due to climate change, assessing the potential long-term effects of these events for affected households is critically important. This study analyzes to what extent a one-off ...
The paper extends a static discrete-choice labor supply model by adding participation and hours constraints. We identify restrictions by survey information on the eligibility and search activities of individuals as well as actual and desired hours. .
2018| Kai-Uwe Müller, Michael Neumann, Katharina Wrohlich
Regulatory bank levies set incentives for banks to reduce leverage. At the same time, corporate income taxation makes funding through debt more attractive. In this paper, we explore how regulatory levies affect bank capital structure, depending on ..
2018| Franziska Bremus, Kirsten Schmidt, Lena Tonzer
Since the seminal paper of Hoffman et al. (1994), an entitlement effect is believed to exist in the Ultimatum Game, in the sense that proposers who have earned their role (as opposed to having it randomly allocated) offer a smaller share of the pie .
This paper investigates the evolution of inflation dynamics in the five largest ASEAN countries between 1997 and 2017. To account for changes in the monetary policy frameworks since the Asian Financial Crisis (AFC), the analysis is based on country .
We estimate the effect of government spending shocks on the US economy with a time-varying parameter vector autoregression. The recent Great Recession period appears to be characterized by uniquely large impulse responses of output to fiscal shocks.
It is well established that teachers are the most important in-school factorin determining student outcomes. However, to date there is scant robustquantitative research demonstrating that teacher training programs can havelasting impacts on student .
2018| Richard Murphy, Felix Weinhardt, Gill Wyness
Using a laboratory experiment, we present first evidence that social image concerns causally reduce the take-up of an individually beneficial transfer. Our design manipulates the informativeness of the take-up decision by varying whether transfer ...
2018| Jana Friedrichsen, Tobias König, Renke Schmacker
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