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Referierte Aufsätze Web of Science
Using panel data from the UK, we study the long-term effect of purchase decisions of automobiles on individuals’ happiness. We find a significant and sizable decrease in individual happiness in the years after a car purchase. We develop a model of hedonic adaptation that can explain these results. Applying the model to the data indicates a strong degree of habit persistence of around 80%, and that ...
In:
Journal of Economic Psychology
61 (2017), S. 29-38
| Johannes Emmerling, Salmai Qari
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Referierte Aufsätze Web of Science
In structural vector autoregressive analysis identifying the shocks of interest via heteroskedasticity has become a standard tool. Unfortunately, the approaches currently used for modeling heteroskedasticity all have drawbacks. For instance, assuming known dates for variance changes is often unrealistic while more flexible models based on GARCH or Markov switching residuals are difficult to handle ...
In:
Journal of Economic Dynamics & Control
84 (2017), S. 43-57
| Helmut Lütkepohl, Aleksei Netsunajev
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Referierte Aufsätze Web of Science
We revisit Ball and Romer’s (1990) canonical model of price setting with menu costs that exhibits multiple equilibria. We show that changes to firms’ markups move nominal and real rigidities in opposite directions. Using game-theoretic tools to derive a unique equilibrium, we find that accounting for agents’ endogenous adjustment of price expectations further weakens the link between real and nominal ...
In:
Economics Letters
156 (2017), S. 129-132
| Philipp König, Alexander Meyer-Gohde
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Referierte Aufsätze Web of Science
Using representative household survey data from Japan after the Fukushima accident, we estimate peoples' willingness-to-pay (WTP) for renewable, nuclear, and fossil fuels in electricity generation. We rely on random parameter econometric techniques to capture various degrees of heterogeneity between the respondents, and use detailed regional information to assess how WTP varies with the distance to ...
In:
Energy Economics
65 (2017), S. 262-270
| Katrin Rehdanz, Carsten Schröder, Daiju Narita, Toshihiro Okubo
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Referierte Aufsätze Web of Science
Redistributive policies can provide an insurance against future negative economic shocks. This, in turn, implies that an individual's demand for redistribution is expected to increase with her risk aversion. To test this prediction, we elicit risk aversion and demand for redistribution through a well-established set of measures in a representative sample of the Swedish population. We document a statistically ...
In:
Journal of Public Economics
153 (2017), S. 49-55
| Johanna Mollerstrom, Manja Gärtner, David Seim
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Referierte Aufsätze Web of Science
Economists consider personality traits to be stable, particularly throughout adulthood. However, evidence from psychological studies suggests that the stability assumption may not always be valid, as personality traits can respond to certain life events. Our paper analyzes whether and to what extent personality traits are malleable over a time span of eight years for a sample of working individuals. ...
In:
Journal of Economic Psychology
60 (2017), S. 71-91
| Silke Anger, Georg Camehl, Frauke Peter
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Referierte Aufsätze Web of Science
This paper provides a literature review on wind power and externalities from multiple perspectives. Specifically, the economic rationale behind world-wide wind power deployment is to mitigate negative externalities of conventional electricity technologies, notably emissions from fossil fuels. However, wind power entails externalities itself. Wind turbines can lower quality of human life through noise ...
In:
Ecological Economics
141 (2017), S. 245-260
| Alexander Zerrahn
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Referierte Aufsätze Web of Science
The purpose of this article is twofold. First, we review model-based analyses that explore the role of power storage in energy systems with high shares of variable renewables. Second, we introduce a new model that is specifically designed for exploring long-term storage requirements. The literature survey focuses on recent contributions in the peer-reviewed energy economics and engineering literature. ...
In:
Renewable and Sustainable Energy Reviews
79 (2017),S. 1518-1534
| Alexander Zerrahn, Wolf-Peter Schill
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Referierte Aufsätze Web of Science
This paper analyses whether exporting firms are less CO2 emission-intensive than non-exporting competitors. It exploits a novel and unique dataset for Germany, a major exporting country. Due to the direct link between CO2 emissions and fuels consumed, we argue that it is necessary to employ a production function framework to consistently analyse CO2 emission intensity. We show that such an approach ...
In:
European Economic Review
98 (2017), S. 373-391
| Philipp M. Richter, Alexander Schiersch
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Referierte Aufsätze Web of Science
We analyze the pass-through of cost changes to retail tariffs in the German electricity market over the 2007–2014 period. We find an average pass-through rate of around 60%. This significantly varies with demand factors: while the pass-through rate to baseline tariffs, where firms have greater market power because customers are less willing to switch, is only 50%, it increases to 70% in the competitive ...
In:
European Economic Review
98 (2017), S. 354-372
| Tomaso Duso, Florian Szücs