In this paper, we analyse the impact of the economic reforms implemented in the 1980s and of the Customs Union Agreement of 1996 on the intra-industry trade in Turkey. We use panel data for 20 trading partners of Turkey and the sample period from 1969 until 2009. Controlling for the effects of standard determinants of intra-industry trade proposed in the literature, we find strong statistical evidence ...
This paper explores the relationship between the self-declared risk aversion of private investors and their propensity to hold incomplete portfolios of financial assets. The analysis is based on household survey data from the German Socioeconomic Panel (SOEP) that provides a reliable measure of individual attitudes toward financial risk. Our findings suggest that more risk averse households tend to ...
Deutschland ist zurzeit die drittgrößte Volkswirtschaft der Welt. Doch die Vorstellung damit verbundener Größe ist falsch. Der deutsche Anteil an der Weltwirtschaft beträgt lediglich 4,3 %, in Kaufkraft gerechnet sogar nur 3,2 %, und er wird weiter sinken. Wirtschaftlich bedeutend sind heute allein die USA und China, Deutschland war einmal groß – vor mehr als 100 Jahren. Heute kann Deutschland nur ...
The German economy has stagnated for over two years, with a slow recovery anticipated in the coming quarters. However, growth is unlikely to reach pre-COVID-19 levels anytime soon. Decarbonisation, digitisation, demographic changes, and heightened competition from China are dampening growth prospects. GDP is projected to decline by 0.1 % in 2024, with increases of 0.8 % and 1.3 % in the subsequent ...
