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Correcting for Self-Selection Based Endogeneity in Management Research: Review, Recommendations and Simulations

Foundational to management is the idea that organizational decisions are a function of expected outcomes; hence, the customary empirical approach to employ multivariate techniques that regress performance outcome variables on discrete measures of organizational choices (e.g., investments, trainings, strategies and other managerial decision variables) potentially suffer from self-selection based endogeneity ...

Veränderungen in der gruppenspezifischen Nutzung von ganztägigen Schulangeboten: Längsschnittanalysen für den Primarbereich

Seit Beginn des Bundes-Investitionsprogramms „Zukunft Bildung und Betreuung“ (IZBB) im Jahr 2003 hat sich der Anteil der Grundschulkinder, die ganztägig eine Schule besuchen, mehr als vervierfacht. Vor diesem Hintergrund untersucht der vorliegende Beitrag zum einen, welche demografischen und sozioökonomischen Merkmale Kinder aufweisen, die ganztägige Schulangebote nutzen. Zum anderen wird der Frage ...

Structural Vector Autoregressions: Checking Identifying Long-Run Restrictions via Heteroskedasticity

Long-run restrictions have been used extensively for identifying structural shocks in vector autoregressive (VAR) analysis. Such restrictions are typically just-identifying but can be checked by utilizing changes in volatility. This paper reviews and contrasts the volatility models that have been used for this purpose. Three main approaches have been used, exogenously generated changes in the unconditional ...

Between the Hammer and the Anvil: The Impact of Economic Sanctions and Oil Prices on Russia's Ruble

A Generalized Approach for Measuring the Marginal Social Costs of Road Transport in Europe

Social marginal cost pricing requires bottom-up calculations of social marginal costs for all circumstances. Because this is not practicable for policymaking, we suggest an approach to generalize available cost estimates and present results from this for two case studies. We conclude that in the peak period congestion costs are the most important externality of road use, and that accidents, wear and ...

Financing Patterns of R&D in Small and Medium-Sized Enterprises and the Perception of Innovation Barriers in Germany

We analyze the role public support plays in small and medium-sized enterprises (SMEs) R&D financing as well as these firms’ assessments of financing conditions in the context of other framework conditions for innovation. Using the sample of 2,708 German SMEs that participated in public R&D promotion programs during 2005–10, we identify four unique types of R&D financing. Firms are generally positive ...

Information Flows in Foreign Exchange Markets: Dissecting Customer Currency Trades

We study the information in order flows in the world's largest over-the-counter market, the foreign exchange (FX) market. The analysis draws on a data set covering a broad cross-section of currencies and different customer segments of FX end-users. The results suggest that order flows are highly informative about future exchange rates and provide significant economic value. We also find that different ...

Power Markets with Renewables: New Perspectives for the European Target Model

We discuss at the European example how power market design evolves with increasing shares of intermittent renewables. Short-term markets and system operation have to accommodate for the different needs of renewable and conventional generation assets and flexibility options. This can be achieved by pooling resources over larger geographic areas through common auction platforms, realizing the full flexibility ...

Rules versus Human Beings, and the Mandate of the ECB

The actions by the European Central Bank (ECB) during the global and European crises have triggered a highly controversial debate, in particular in Germany, about the costs and benefits of the chosen policy path. The article reviews, compares, and evaluates the different arguments made in favor and against ECB policies around three key dimensions—the link of the policy path to price stability, financial ...

A Two-Stage Efficiency Analysis of Rail Passenger Franchising in Germany

This paper analyses the differences in the efficiency of using subsidies for franchised regional rail services between the federal states in Germany, and provides evidence on the impact of procurement strategies and contractual design on the efficient use of funds. The analysis is based on a 15-year panel data set at the level of the federal states and employs a two-stage efficiency analysis, including ...