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Referierte Aufsätze Web of Science
This paper analyzes whether individuals have equal opportunity to achieve happiness (or well-being). We estimate sibling correlations and intergenerational correlations in self-reported life satisfaction, satisfaction with household income, job satisfaction, and satisfaction with health. We find high sibling correlations for all measures of well-being. The results suggest that family background explains, ...
In:
The B.E. Journal of Economic Analysis & Policy
16 (2016), 1, S. 125-149
| Daniel D. Schnitzlein, Christoph Wunder
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Referierte Aufsätze Web of Science
Tax competition for capital has led to a trend where many countries levy lower taxes on interest income, often introducing differential taxation between interest and business income. This study analyzes the effect on firm debt usage. We exploit Germany’s 2009 tax reform, which introduced a final withholding tax on interest income with a flat rate 18 percentage points below the unchanged tax rate on ...
In:
International Tax and Public Finance
23 (2016), 1, S. 48-81
| Frank M. Fossen, Martin Simmler
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Referierte Aufsätze Web of Science
Nonparametric efficiency analysis has become a widely applied technique to support industrial benchmarking as well as a variety of incentive-based regulation policies. In practice such exercises are often plagued by incomplete knowledge about the correct specifications of inputs and outputs. Simar and Wilson (Commun Stat Simul Comput 30(1):159–184, 2001) and Schubert and Simar (J Prod Anal 36(1):55–69, ...
In:
Journal of Productivity Analysis
45 (2016), 1, S. 35-51
| Anne Neumann, Maria Nieswand, Torben Schubert
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Referierte Aufsätze Web of Science
This article provides an introduction to the European Union (EU) Emissions Trading System (ETS). First we describe the legislative development of the EU ETS, its evolution from free allocation to auctioning and centralized allocation rules, its relationship to the Kyoto Protocol and other trading systems, and its relationship to other EU climate and energy policies. This is followed by an assessment ...
In:
Review of Environmental Economics and Policy
10 (2016), 1, S. 89-107
| Denny Ellerman, Claudio Marcantonini, Aleksandar Zaklan
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Referierte Aufsätze Web of Science
This paper examines the relevance of the Lucas critique for euro area money demand. Based on the money in the utility function approach, a vector error correction model is specified to investigate the relationship between money and inflation in times of policy shifts. A well defined equation for money demand is obtained. The results indicate that the evolution of M3 is still in line with money demand. ...
In:
Empirica
43 (2016), 1, S. 61-82
| Christian Dreger, Jürgen Wolters
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Referierte Aufsätze Web of Science
This paper evaluates the price effects of the merger of two major U.K. book retailers. We use a dataset containing monthly scanner data on a sample of 200 books in 50 local markets for four years around the merger. We compare the price changes after the merger in shops located in areas where both chains were present before the merger and in areas where only one chain was present. We also investigate ...
In:
The Journal of Industrial Economics
64 (2016),1, S. 170-200
| Luca Aguzzoni, Elena Argentesi, Lorenzo Ciari, Tomaso Duso, Massimo Tognoni
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Referierte Aufsätze Web of Science
We re-examine the common wisdom that cross-border mergers are the most effective merger strategy for firms facing powerful unions. In contrast, we obtain a domestic merger outcome whenever firms are sufficiently heterogeneous (in terms of productive efficiency and product differentiation). A domestic merger unfolds a “wage-unifying” effect which limits the union's ability to extract rents. When products ...
In:
Journal of Economic Behavior & Organization
127 (2016), S. 16-29
| Irina Baye, Beatrice Pagel, Christian Wey
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Referierte Aufsätze Web of Science
This modeling comparison exercise looks at the global consequences of increased shale gas production in the U.S. and increased gas demand from Asia. We find that differences in models' theoretical construct and assumptions can lead to divergences in their predictions about the consequences of U.S. shale gas boom. In general, models find that U.S. High Shale Gas scenario leads to increased U.S. production, ...
In:
Energy Economics
60 (2016), S. 405-415
| Sonia Yeh, Yiyong Cai, Daniel Huppman, Paul Bernstein, Sugandha Tuladhar, Hillard G. Huntington
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Referierte Aufsätze Web of Science
In Germany and beyond, various capacity mechanisms are currently being discussed with a view to improving the security of electricity supply. One of these mechanisms is a strategic reserve that retains generation capacity for use in times of critical supply shortage. We argue that strategic reserves have specific advantages compared to other capacity mechanisms in the context of the European energy ...
In:
Utilities Policy
41 (2016), S. 252-263
| Karsten Neuhoff, Jochen Diekmann, Friedrich Kunz, Sophia Rüster, Wolf-Peter Schill, Sebastian Schwenen
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Referierte Aufsätze Web of Science
Recent supply security concerns in Europe have revived interest into the natural gas market. We investigate infrastructure investment and trade in an imperfect market structure for various possible risks for both supply and demand. We focus on three possible scenarios in a stochastic global gas market model: (i) transit of Russian gas via Ukraine that may be disrupted from 2020 on; (ii) natural gas ...
In:
Energy Policy
94 (2016), S. 468-479
| Ruud Egging, Franziska Holz