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Referierte Aufsätze Web of Science
Why do entrepreneurship rates differ so markedly by gender? Using data from a large representative German household panel, we investigate to what extent personality traits, human capital, and the employment history influence the start-up decision and can explain the gender gap in entrepreneurship. Applying a decomposition analysis, we observe that the higher risk aversion among women explains a large ...
In:
CESifo Economic Studies
61 (2015), 1, S. 202-238
| Marco Caliendo, Frank M. Fossen, Alexander S. Kritikos, Miriam Wetter
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Referierte Aufsätze Web of Science
This paper develops a new methodology for estimating both the automatic and discretionary components of fiscal policy in one reaction function using the differences between real-time and ex post data. Discretionary policy should respond to information available to the policy maker at the time (real-time data), whereas automatic fiscal policy should respond to the true state of the economy at the time ...
In:
Macroeconomic Dynamics
19 (2015), Iss. 1, S. 221-243
| Kerstin Bernoth, Andrew Hughes Hallet, John Lewis
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Referierte Aufsätze Web of Science
Are capital controls and macroprudential measures related to international exposures successful in achieving their objectives? Assessing their effectiveness is complicated by selection bias; countries which change their capital-flow management measures (CFMs) often share specific characteristics and are responding to changes in variables that the CFMs are intended to influence. This paper addresses ...
In:
Journal of International Economics
96 (2015), Suppl. 1, S. S76-S97
| Kristin Forbes, Marcel Fratzscher, Roland Straub
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Referierte Aufsätze Web of Science
This article analyzes the coordination of congestion management in the electricity grid and identifies the benefits from closer cooperation among Transmission System Operators. Mimicking the German situation with four Transmission System Operators in charge of relieving grid congestion, in particular by redispatch of power plants, we set up a model with shared transmission network constraints. Through ...
In:
Utilities Policy
37 (2015), S. 34-45
| Friedrich Kunz, Alexander Zerrahn
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Referierte Aufsätze Web of Science
Financial literacy predicts informed financial decisions, but what explains financial literacy? We use the concept of financial socialization and aim to represent three major agents of financial socialization: family, school and work. Thus we compile twelve relevant childhood characteristics in a new survey study and examine their relation to financial literacy, while controlling for established socio-demographic ...
In:
Journal of Economic Psychology
51 (2015), S. 114-133
| Antonia Grohmann, Roy Kouwenberg, Lukas Menkhoff
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Referierte Aufsätze Web of Science
When there are more than two parties, policy outcomes are typically the result of a bargaining process. We investigate whether changes in political power for various parties have an effect on tax policies. We use an instrumental variable approach where close elections provide the exogenous variation in our variable of interest: voting power. In order to isolate close elections in a proportional election ...
In:
European Economic Review
80 (2015), S. 310-328
| Ronny Freier, Christian Odendahl
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Referierte Aufsätze Web of Science
This paper investigates the mechanisms behind the health effects of retirement. Using a Regression Discontinuity Design to exploit financial incentives in the German pension system for identification, I find that retirement improves subjective health status and mental health, while also reducing outpatient care utilization. I explore a wide range of health behaviors, time use, and effect heterogeneity ...
In:
Journal of Health Economics
43 (2015), S. 1-12
| Peter Eibich
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Referierte Aufsätze Web of Science
We analyze the impacts of future scenarios of electric vehicles (EVs) on the German power system, drawing on different assumptions on the charging mode. We find that the impact on the load duration curve strongly differs between charging modes. In a fully user-driven mode, charging largely occurs during daytime and in the evening, when power demand is already high. User-driven charging may thus have ...
In:
Applied Energy
156 (2015), S. 185-196
| Wolf-Peter Schill, Clemens Gerbaulet
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Referierte Aufsätze Web of Science
We re-examine the dynamic relations between stock prices and macroeconomic fundamentals for six major industrialized countries in the wake of the recent financial crisis. Our analysis is based on a structural vector autoregressive (SVAR) model, which relies on a long-run restriction to identify fundamental and non-fundamental shocks to stock prices. This paper is the first in this line of literature ...
In:
Journal of Economics and Business
80 (2015), S. 1-20
| Anton Velinov, Wenjuan Chen
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Referierte Aufsätze Web of Science
This paper argues that the development of energy systems rests on a combination of three different domains of socio-economic processes and associated modes of decision-making. For shorthand these are termed ‘satisficing’, ‘optimising’, and ‘transforming’ domains, with corresponding underpinnings found in behavioural, neoclassical, and evolutionary economics respectively. Each domain operates at different ...
In:
Technological Forecasting & Social Change
98 (2015), S. 290-302
| Michael Grubb, Jean-Charles Hourcade, Karsten Neuhoff