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2076 Ergebnisse, ab 41
  • Diskussionspapiere 2033 / 2023

    The Energy-Price Channel of (European) Monetary Policy

    This study examines whether central banks can combat inflation that is caused by rising energy prices. By using a high-frequency event study and a Structural Vector Autoregression, we find evidence that the European Central Bank (ECB) and the Federal Reserve (Fed) are capable of doing so by affecting domestic and global energy prices. This “energy-price channel” of monetary policy plays an important ...

    2023| Gökhan Ider, Alexander Kriwoluzky, Frederik Kurcz, Ben Schumann
  • Diskussionspapiere 2032 / 2023

    Effectiveness and Heterogeneous Effects of Purchase Grants for Electric Vehicles

    We evaluate German purchase subsidies for battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs) using data on new vehicle registrations in Germany during 2015-2022. We account for confounding time trends and interacting EU-level CO2 standards using neighboring countries as a control group. The program was cost-ineffective, as only 40% of BEV and 25% of PHEV registrations were ...

    2023| Peter Haan, Adrián Santonja, Aleksandar Zaklan
  • Diskussionspapiere 2031 / 2023

    Causal Misperceptions of the Part-Time Pay Gap

    This paper studies if workers infer from correlation about causal effects in the context of the part-time wage penalty. Differences in hourly pay between full-time and part-time workers are strongly driven by worker selection and systematic sorting. Ignoring these selection effects can lead to biased expectations about the consequences of working part-time on wages (’selection neglect bias’). Based ...

    2023| Annekatrin Schrenker
  • Diskussionspapiere 2030 / 2023

    Self-Efficacy and Entrepreneurial Performance of Start-Ups

    Self-efficacy reflects the self-belief that one can persistently perform difficult and novel tasks while coping with adversity. As such beliefs reflect how individuals behave, think, and act, they are key for successful entrepreneurial activities. While existing literature mainly analyzes the influence of the task-related construct of entrepreneurial self-efficacy, we take a different perspective and ...

    2023| Marco Caliendo, Alexander S. Kritikos, Daniel Rodriguez, Claudia Stier
  • Diskussionspapiere 2029 / 2022

    The Influence of Start-up Motivation on Entrepreneurial Performance

    Predicting entrepreneurial development based on individual and business-related characteristics is a key objective of entrepreneurship research. In this context, we investigate whether the motives of becoming an entrepreneur influence the subsequent entrepreneurial development. In our analysis, we examine a broad range of business outcomes including survival and income, as well as job creation, expansion ...

    2022| Marco Caliendo, Alexander S. Kritikos, Claudia Stier
  • Diskussionspapiere 2028 / 2022

    Age-specific Effects of Early Daycare on Children's Health

    Over the past decades, the share of very young children in daycare has increased significantly in many OECD countries, including Germany. Despite the relevance of child health for child development and later life success, the effect of early daycare attendance on health has received little attention in the economic literature. In this study, I investigate the impact of a large daycare expansion in ...

    2022| Mara Barschkett
  • Diskussionspapiere 2027 / 2022

    Non-Additivity of Subjective Expectations over Different Time Intervals

    We examine the additivity of stock-market expectations over different time intervals. When asked about a ten-year interval, survey respondents expect a stock-price change that is not equal to, but closer to zero than, the sum of their expectations over two shorter time intervals that cover the same ten years. Such sub-additivity is irrational in that it cannot stem from aggregating short-term expectations. ...

    2022| Peter Haan, Chen Sun, Uwe Sunde, Georg Weizsäcker
  • Diskussionspapiere 2026 / 2022

    Rent Control Effects through the Lens of Empirical Research: An almost Complete Review of the Literature

    Rent control is a highly debated social policy that has been omnipresent since World War I. Since the 2010s, it is experiencing a true renaissance, for many cities and countries facing chronic housing shortages are desperately looking for solution, directing their attention to controling housing rents and other restrictive policies. Is rent control useful or does it create more damage than utility? ...

    2022| Konstantin A. Kholodilin
  • Diskussionspapiere 2025 / 2022

    Wind Power Decreases the Need for Storage in an Interconnected 100% Renewable European Power Sector

    The massive expansion of wind power and solar PV is the primary strategy to reduce greenhouse gas emissions in many countries. Due to their variable generation profiles, power sector flexibility needs to increase. Geographical balancing enabled by electricity grids and temporal flexibility enabled by electricity storage are important options for flexibility. As they interact with each other, we investigate ...

    2022| Alexander Roth, Wolf-Peter Schill
  • Diskussionspapiere 2024 / 2022

    Do Women Expect Wage Cuts for Part-time Work?

    I quantify the perceived changes in hourly wage rates associated with working different hours on the same job for a representative sample of female workers. While part-time working women expect significant hourly wage gains from switching to full-time work - 7% on average - full-time workers expect no effect on current wages when switching to part-time, on average. Perceived pecuniary losses from part-time ...

    2022| Annekatrin Schrenker
  • Diskussionspapiere 2023 / 2022

    Ownership Diversification and Product Market Pricing Incentives

    We link investor ownership to profit loads on rival firms by the managers of a firm. We propose a theory model in which we distinguish between passive and active investors’ holdings, where passive investors are relatively more diversified. We find that if passive investors become relatively bigger, then common ownership incentives increase. We show that these higher incentives, in turn, are linked ...

    2022| Albert Banal-Estanol, Jo Seldeslachts, Xavier Vives
  • Diskussionspapiere 2022 / 2022

    No Taxation without Reallocation: The Distributional Effects of Tax Changes

    This paper investigates the dynamic effects of tax changes on the cross-sectional distribution of disposable income in the United States using a narrative identification approach. I distinguish between changes in personal and corporate income taxes and quantify the distributional effects on families and business owners. I document that tax changes affect incomes along the distribution differently and ...

    2022| Stephanie Ettmeier
  • Diskussionspapiere 2021 / 2022

    Brothers in Arms: The Value of Coalitions in Sanctions Regimes

    This paper examines the impact of coalitions on the economic costs of the 2012 Iran and 2014 Russia sanctions. By estimating and simulating a quantitative general equilibrium trade model under different coalition setups, we (i) dissect welfare losses for sanctions senders and target; (ii) compare prospective coalition partners and; (iii) provide bounds for the sanctions potential — the maximum welfare ...

    2022| Sonali Chowdhry, Julian Hinz, Katrin Kamin, Joschka Wanner
  • Diskussionspapiere 2020 / 2022

    Global Commodity Markets and Sovereign Risk across 150 Years

    How do commodity price movements affect sovereign default risk over the long-run? Using a novel dataset covering 41 countries and 42 raw commodities, we take a comprehensive long-run view to shed light on this so far understudied relationship between commodity risk and sovereign risk across 150 years. We create a novel country-specific commodity price index that allows us to take advantage of countries’ ...

    2022| Angélica Domínguez-Cardoza, Adelina Garamow, Josefin Meyer
  • Diskussionspapiere 2019 / 2022

    Green Bonds’ Reputation Effect and Its Impact on the Financing Costs of the Real Estate Sector

    This paper explores the effect of a firm’s reputation of being a green bond issuer on its financing costs. Using a sample of 73 listed Swedish real estate companies issuing in total about 1500 bonds over the period from 2011 till 2021, difference-in-difference analyses and instrumental variable estimations are applied to identify the causal impact of frequent green vis-à-vis frequent non-green bond ...

    2022| Aleksandar Petreski, Dorothea Schäfer, Andreas Stephan
  • Diskussionspapiere 2018 / 2022

    German Financial State Aid during COVID-19 Pandemic: Higher Impact among Digitalized Self-Employed

    In response to strong revenue and income losses that a large share of the self-employed faced during the COVID-19 pandemic, the German federal government introduced a €50bn emergency aid program. Based on real-time online-survey data comprising more than 20,000 observations, we analyze the impact of this program on the subjective survival probability. In particular, we investigate how the digitalization ...

    2022| Irene Bertschek, Joern Block, Alexander S. Kritikos, Caroline Stiel
  • Diskussionspapiere 2017 / 2022

    Let's Switch to the Cloud: Cloud Adaption and Its Effect on IT Investment and Productivity

    The advent of cloud computing promises to improve the way firms utilize IT solutions. Firms are expected to replace large and inflexible fixed-cost investments in IT with more targeted variable spending in cloud solutions. In addition, cloud usage is expected to increase the productivity of firms, as it allows them to quickly customize the IT they require to their specific needs. We assess these assertions ...

    2022| Tomaso Duso, Alexander Schiersch
  • Diskussionspapiere 2016 / 2022

    Parental Leave Benefits and Child Penalties

    I use the universe of tax returns in Germany and a regression kink design to estimate the impact of the benefit amount available to high-earning women after their first childbirth on subsequent within-couple earnings inequality. Lower benefit amounts result in a reduced earnings gap that persists beyond the benefit period for at least nine years after the birth. The longer-term impacts are driven by ...

    2022| Sevrin Waights
  • Diskussionspapiere 2015 / 2022

    Common Ownership: Europe vs. the US

    Common ownership - when an investor holds shares in two or more companies - has recently attracted significant attention from policy-makers and researchers, studying mainly US firms. European firms, however, are different as top investors with large stakes, like governments, founding families and foundations are much more prevalent. This paper takes a well-known common ownership with micro-economic ...

    2022| Nuria Boot, Jo Seldeslachts, Albert Banal Estanol
  • Diskussionspapiere 2014 / 2022

    The Impact of Public Procurement on Financial Barriers to Green Innovation: Evidence from European Community Innovation Survey

    The purpose of this study is to identify whether an innovative company’s likelihood of facing financial constraints is different when the company possesses a public procurement contract (PP). Theory suggests that the treatment effects of public procurement, particularly when mediated by the demand-pull effect, may lower a company’s funding constraints for innovation. We test this theory and apply extended ...

    2022| Dorothea Schäfer, Andreas Stephan, Sören Fuhrmeister
2076 Ergebnisse, ab 41
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