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Referierte Aufsätze Web of Science
A personal bankruptcy law that allows for a "fresh start" not only reduces the individual risk involved in entrepreneurship, but may also lead to higher interest rates charged by creditors. Both effects are less relevant for wealthy potential entrepreneurs. This paper illustrates these effects in a model and tests the hypotheses derived by exploiting the introduction of a "fresh start" policy in Germany ...
In:
American Law and Economics Review
16 (2014), 1, S. 269-312
| Frank M. Fossen
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Referierte Aufsätze Web of Science
This paper exploits rich SOEP microdata to analyze state-level variation in health care utilization in Germany. Unlike most studies in the field of the Small Area Variation (SAV) literature,our approach allows us to net out a large array of individual-level and state-level factors that may contribute to the geographic variation in health care utilization. The raw data suggest that state-level hospitalization ...
In:
Health Policy
114 (2014), 1, S. 41-53
| Peter Eibich, Nicolas R. Ziebarth
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Referierte Aufsätze Web of Science
We evaluate the informational content of ex post and ex ante predictors of periods of excess stock (market) valuation. For a cross-section comprising 10 OECD economies and a time span of at most 40 years, alternative binary chronologies of price bubble periods are determined. Using these chronologies as dependent processes and a set of macroeconomic and financial variables as explanatory variables, ...
In:
Journal of Forecasting
33 (2014), 1, S. 15-31
| Helmut Herwartz, Konstantin A. Kholodilin
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Referierte Aufsätze Web of Science
We examine moonlighting by politicians in Germany. In July 2007, the German Supreme Court adjudicated that members of parliament (MPs) have to publish details of their outside earnings. Using panel data models, we investigate how outside earnings are correlated with absence and parliamentary activity. The results do not indicate that outside earnings are correlated with absence rates and speeches; ...
In:
European Journal of Political Economy
36 (2014), S. 147-157
| Felix Arnold, Björn Kauder, Niklas Potrafke
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Referierte Aufsätze Web of Science
In structural vector autoregressive (SVAR) analysis a Markov regime switching (MS) property can be exploited to identify shocks if the reduced form error covariance matrix varies across regimes. Unfortunately, these shocks may not have a meaningful structural economic interpretation. It is discussed how statistical and conventional identifying information can be combined. The discussion is based on ...
In:
Journal of Econometrics
183 (2014), S. 104-116
| Helmut Herwatz, Helmut Lütkepohl
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Referierte Aufsätze Web of Science
Applying a financial assets approach, we analyze the returns and earnings risk of investments into different types of human capital. Even though the returns from investing in human capital are extensively studied, little is known about the properties of the returns to different types of human capital within a given educational path. Using information from the German Micro Census, we estimate the risk ...
In:
Economics of Education Review
42 (2014), S. 109-129
| Daniela Glocker, Johanna Storck
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Referierte Aufsätze Web of Science
I examine the effects of increasing amounts of fluctuating renewable energy on residual load, which is defined as the difference between actual power demand and the feed-in of non-dispatchable and inflexible generators. I draw on policy-relevant scenarios for Germany and make use of extensive sensitivity analyses. Whereas yearly renewable surplus energy is low in most scenarios analyzed, peak surplus ...
In:
Energy Policy
73 (2014), S. 65-79
| Wolf-Peter Schill
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Referierte Aufsätze Web of Science
This paper uses Hierarchical Bayes Models to model and estimate spatial health effects in Germany. We combine rich individual-level household panel data from the German SOEP with administrative county-level data to estimate spatial county-level health dependencies. As dependent variable we use the generic, continuous, and quasi-objective SF12 health measure. We find strong and highly significant spatial ...
In:
Regional Science & Urban Economics
49 (2014), S. 305-320
| Peter Eibich, Nicolas R. Ziebarth
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Referierte Aufsätze Web of Science
While some scholars interpret the frequently documented association between age and the strength of party identification as evidence of accumulated political learning, others stress the importance of critical life stages. Germany's turbulent last century, with its suspensions of democratic processes, provides the unique opportunity to empirically disentangle both effects and to also study the consequences ...
In:
Electoral Studies
33 (2014), S.90-101
| Martin Kroh
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Referierte Aufsätze Web of Science
Bank debt guarantees have traditionally been viewed as costless measures to prevent bank runs. However, as recent experiences in some European countries have demonstrated, guarantees may link the coordination problems of bank and sovereign creditors and induce a functional interdependence between the likelihoods of a government default and bank illiquidity. Employing a global-game approach, we model ...
In:
Journal of Banking & Finance
45 (2014), S. 321-337
| Philipp König, Kartik Anand, Frank Heinemann