This paper analyzes the extent to which selection explains the observed discrepancy between solicited and unsolicited ratings. I propose a model of selection with truth telling rating agencies and borrowers with the ability to veto the revelation of the rating. The observed difference between the two categories of ratings in different sectors is in line with the prediction of the model. In the sovereign ...
This article highlights the potentials for migration research using the German Socio-Economic Panel Study (SOEP), a longitudinal panel dataset of private households in Germany running since 1984. We provide a concise overview of its basic features, describe the survey contents and research potentials, and demonstrate opportunities to link external data sources to the SOEP thereby presenting its diverse ...
The tremendous growth of digital transactions – mainly through online platforms - is profoundly affecting the way we interact and opening vast opportunities to improve our lives. Consumers are benefiting from an unprecedented proliferation of new services and products that previously were too costly to be developed and marketed to customers. At the same time, the characteristics of platform...
Denken in nationalen oder nur europäischen Scheuklappen wird uns bei der Bewältigung der Corona-Pandemie oder der Klimakrise nicht helfen. Im Gegenteil, es rächt sich. Dieser Text erschien erstmals am 25. März 2021 in der Zeit Online-Kolumne Fratzschers Verteilungsfragen. Die Empörung in Deutschland ist groß, dass einige wenige Länder deutlich schneller bei den Impfungen ...
During the first coronavirus lockdown in Germany in spring 2020, treatment cases of children in outpatient care declined by up to 20 percent. As this study based on administrative diagnosis data of all statutory health insurance companies in Germany shows, there were significantly fewer physical diseases, such as infections, diagnosed in one to 12-year-old children in the second quarter of 2020 compared ...
A major challenge for proxy vector autoregressive analysis is the construction of a suitable external instrument variable or proxy for identifying a shock of interest. Some authors construct sophisticated proxies that account for the dating and size of the shock while other authors consider simpler versions that use only the dating and signs of particular shocks. It is shown that such qualitative (sign-)proxies ...
