This article studies the evolution of housing rents in St. Petersburg between 1880 and 1917, covering an eventful period of Russian and world history. We collect and digitize over 5,000 rental advertisements from a local newspaper, which we use ...
2019| Konstantin A. Kholodilin, Leonid Limonov, Sofie R. Waltl
This paper provides the first comprehensive review of the empirical and theoretical literature on the determinants of the elasticity of substitution between capital and labor. Our focus is on the two-input constant elasticity of substitution (CES) ..
Fairtrade certification aims at transferring wealth from the consumer to the farmer; however, coffee passes through many hands before reaching final consumers. Bringing together retail, wholesale, and stock market data, this study estimates how much
Existing long-term energy and climate scenarios are typically a rather simple extrapolation of past trends. Both qualitative and quantitative outlooks co-exist, but they often focus narrowly on individual perspectives, which is opposed to the ...
2019| Dawud Ansari, Franziska Holz, Hasan Basri Tosun
We examine the credit channel of monetary policy from 2000 to 2015 in the Euro Area using daily monetary policy shock and credit risk measures in an autoregressive distributed lag model. We find that an expansionary monetary policy shock leads to a .
In the shadow of homeownership and public housing, social policy through the regulation of private rental markets is a neglected and underestimated field of social policy. This paper, therefore, presents unique new data on the development of private
2019| Konstantin A. Kholodilin, Sebastian Kohl, Yulia Prozorova, Julien Licheron
With Germany’s nuclear phase-out, 23 reactors need to be dismantled in the near future. Initiated by the dire financial situation of the affected utilities in 2014, a major discourse on ensuring financial liability led to a redistribution of ...
2019| Tim Scherwath, Ben Wealer, Roman Mendelevitch
Motivated by the EU concept of Pre-Commercial Procurement and the massivepresence of SMEs in the European economy, we study how budget constraints affect R&D effort in sequential elimination tournaments. We show that introducingbudget constraints ...
Understanding the distributional impacts of market-based climate policies is crucial to design economically efficient climate change mitigation policies that are socially acceptable and avoid adverse impacts on the poor. Empirical studies that ...
2018| Nils Ohlendorf, Michael Jakob, Jan Christoph Minx, Carsten Schröder, Jan Christoph Steckel
This study estimates mean and distributional effects of early between-school ability tracking on student achievement. For identification, I exploit heterogeneity in tracking regimes between German federal states. After comprehensive primary school, .
A rich literature links knowledge inputs with innovative outputs. However, most of what is known is restricted to manufacturing. This paper analyzes whether the three aspects involving innovative activity - R&D; innovative output; and productivity -
2018| David B. Audretsch, Marian Hafenstein, Alexander S. Kritikos, Alexander Schiersch
This paper explores the extent to which emissions limits on stack concentrations under the Large Combustion Plant (LCP) Directive succeeded in mitigating local air pollutants from thermal power stations in the European Union. We take advantage of the
Understanding whether laws shape or simply reflect citizens’ attitudes is important but empirically difficult. We provide new evidence on this question by studying the relationship between legal same-sex relationship recognition policies (SSRRPs) a
2018| Cevat G. Aksoy, Christopher S. Carpenter, Ralph de Haas, Kevin Tran
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
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 Grundstrukt
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
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