Ein wesentliches Ziel der EU ist die Annäherung von Wohlstand und wirtschaftlicher Entwicklung zwischen seinen Mitgliedstaaten. Seit 2010 läuft aber vor allem in der Euro-Zone die Entwicklung zwischen der südlichen Peripherie und den übrigen Ländern auseinander. Dabei mangelt es in den südlichen Ländern weder an Kapital noch an innovativen Ideen. Vielmehr schaffen ...
We investigate the impact of competition policy enforcement on the functioning of European energy markets while accounting for sectoral regulation. For this purpose, we compile a novel dataset on the European Commission's (EC) and EU member states' competition policy decisions in energy markets and combine it with firm- and sector-level data. We find that EC merger policy has a positive and robust ...
Second generation rent control seeks to prevent negative quantity effects by exempting newly built units. The artificially lowered rent in the controlled segment makes renting attractive for households that would otherwise not have rented in the market, replacing households with higher willingness to pay for housing. These households bid up prices in the free market segment, giving rise to an opposite-sign ...
Using an experiment, we demonstrate that a communication regime in which a worker communicates about his intended effort is less effective in: (i) soliciting truthful information; and (ii) motivating effort than one in which he communicates about his past effort. Our experiment uses a real-effort task, which additionally allows us to demonstrate the effects of communication on effort over time. We ...
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In most previous research on the determinants of Life Satisfaction (LS), there has been an implicit assumption that ‘one size fits all’. That is, it has usually been assumed that the covariates of LS are the same for everyone, or at least everyone in the Western world. In this paper, using data from the long-running German Socio-Economic Panel (1984-), we estimate statistical models to assess the effects ...
Using panel data of 17 OECD countries for 1980–2011, we find that the distributional consequences of fiscal consolidations depend significantly on the level of private indebtedness. Austerity leads to a strong and persistent increase in income inequality during periods of private debt overhang. In contrast, there are no discernible distributional effects when private debt is low. This result is robust ...
