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Referierte Aufsätze Web of Science
This paper tests whether an increase in insured deposits causes banks to become more risky. We use variation introduced by the U.S. Emergency Economic Stabilization Act in October 2008, which increased the deposit insurance coverage from $100,000 to $250,000 per depositor and bank. For some banks, the amount of insured deposits increased significantly; for others, it was a minor change. Our analysis ...
In:
Journal of Financial Intermediation
29 (2017), S. 81-102
| Claudia Lambert, Felix Noth, Ulrich Schüwer
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Referierte Aufsätze Web of Science
The Netherlands have been a pivotal supplier in Western European natural gas markets in the last decades. Recent analyses show that the Netherlands would play an important role in replacing Russian supplies in Germany and France in case of a Russian export disruption. Lately, however, the Netherlands have suffered from a series of earthquakes that are related to the natural gas production in the major ...
In:
Energy Economics
64 (2017), S. 520-529
| Franziska Holz, Hanna Brauers, Philipp M. Richter, Thorsten Roobek
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Referierte Aufsätze Web of Science
Why did OPEC not cut oil production in the wake of 2014's price fall? This study aims at aiding the mostly qualitative discussion with quantitative evidence from computing quarterly partial market equilibria Q4 2011 – Q4 2015 under present short-term profit maximisation and different competition setups. Although the model performs reasonably well in explaining pre-2014 prices, all setups fail to capture ...
In:
Energy Policy
111 (2017), S. 166-178
| Dawud Ansari
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Referierte Aufsätze Web of Science
Despite increasing access to university education, students from disadvantaged or non-academic family backgrounds are still underrepresented in universities. In this regard, the economics literature has focused on the role of financial constraints as a cause of these observed differences in educational choices. Our knowledge of potential effects of other constraints regarding university education is ...
In:
Economics of Education Review
60 (2017), S. 125-141
| Frauke H. Peter, Vaishali Zambre
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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
Is it possible to compress instruction time into fewer school years without lowering education levels? A fundamental reform in Germany reduced the length of academic track schooling by one year, while increasing instruction hours in the remaining school years to provide students with a very similar core curriculum and the same overall instruction time. Using aggregated administrative data on the full ...
In:
Economics of Education Review
58 (2017), S. 1-14
| Mathias Hübener, Jan Marcus
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Referierte Aufsätze Web of Science
Constrained transmission capacity in electricity networks may give generators the possibility to game the market by specifically causing congestion and thereby appropriating excessive rents. Investment in network capacity can ameliorate such behavior by reducing the potential for strategic behavior. However, modeling Nash equilibria between generators, which explicitly account for their impact on the ...
In:
Networks and Spatial Economics
17 (2017), 2, S. 611-644
| Alexander Zerrahn, Daniel Huppmann
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Referierte Aufsätze Web of Science
This paper investigates the impact of changes in environmental policy stringency on industry- and firm-level productivity growth in a panel of OECD countries. To test the strong version of the Porter Hypothesis (PH), we extend a neo-Schumpeterian productivity model to allow for effects of environmental policies. We use a new environmental policy stringency (EPS) index and let the effect of countries׳ ...
In:
Journal of Environmental Economics and Management
81 (2017), S. 209-226
| Silvia Albrizio, Tomasz Kozluk, Vera Zipperer
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Referierte Aufsätze Web of Science
We explore the impact of large banks and of financial openness for aggregate growth. Large banks matter because of granular effects: if markets are very concentrated in terms of the size distribution of banks, idiosyncratic shocks at the bank-level do not cancel out in the aggregate but can affect macroeconomic outcomes. Financial openness may affect GDP growth in and of itself, and it may also influence ...
In:
Journal of Banking & Finance
77 (2017), S. 300-316
| Franziska Bremus, Claudia M. Buch