Publikationen des Vorstandsbereichs

Do Ethnic Minorities "Stretch" Their Time? UK Household Evidence on Multitasking

This paper investigates the effect of ethnicity on time spent on secondary household production, work and leisure activities employing the 2000 UK Time Use Survey. We find that, unconditionally, white females manage to "stretch" their time the most by almost four additional hours per day and non-white men "stretch" their time the least. The three secondary activities most often combined with other ...

Natural Hazard Insurance in Europe: Tailored Responses to Climate Change Are Needed

This paper provides an overview of the existing systems of natural hazard insurance in Europe, their structural characteristics and peculiarities. It also discusses the difficulties of adaptation of these systems to climate change and the growing number of natural disasters. Using Germany, Austria and Switzerland as examples, the paper demonstrates that based on the status quo, the Swiss monopoly insurance ...

Reflections on Implementing EU ETS : Pricing Carbon: The European Union Emissions Trading Scheme. A Denny Ellerman ... , Cambridge University Press, New York 2010, 390 pp: Book Review

Liquidity and the Dynamic Pattern of Asset Price Adjustment: A Global View

Global liquidity expansion has been very dynamic since 2001. Contrary to conventional wisdom, high money growth rates have not coincided with a concurrent rise in goods prices. At the same time, however, asset prices have increased sharply, significantly outpacing the subdued development in consumer prices. We investigate the interactions between money and goods and asset prices at the global level. ...

Wind Power and Market Power in Competitive Markets

Average market prices for intermittent generation technologies are lower than for conventional generation. This has a technical reason but can be exaggerated in the presence of market power. When there is much wind smaller amounts of conventional generation technologies are required, and prices are lower, while at times of little wind prices are higher. This effect reflects the value of different generation ...

Assessment of Bottom-up Sectoral and Regional Mitigation Potentials

The greenhouse gas mitigation potential of different economic sectors in three world regions are estimated using a bottom-up approach. These estimates provide updates of the numbers reported in the Fourth Assessment Report of the Intergovernmental Panel on Climate Change (IPCC AR4). This study is part of a larger project aimed at comparing greenhouse gas mitigation potentials from bottom-up and top-down ...

Do We Follow Others When We Should? A Simple Test of Rational Expectations

The paper presents a meta dataset covering 13 experiments on social learning games. It is found that in situations where it is empirically optimal to follow others and contradict one's own information, the players err in the majority of cases, forgoing substantial parts of earnings. The average player contradicts her own signal only if the empirical odds ratio of the own signal being wrong, conditional ...

Trends in Economic Research: An International Perspective

Given the recent efforts in several countries to reorganize the research institutional setting to improve research productivity, our analysis addresses the following questions: To which extent has the recent awareness over international quality standards in economics around the world been reflected in research performance? How have individual countries fared? Do research quantity and quality indicators ...

Kinship Institutions and Sex Ratios in India

This article explores the relationship between kinship institutions and sex ratios in India at the turn of the twentieth century. Because kinship rules vary by caste, language, religion, and region, we construct sex ratios by these categories at the district level by using data from the 1901 Census of India for Punjab (North), Bengal (East), and Madras (South). We find that the male-to-female sex ratio ...

A Structural Approach to Estimating the Effect of Taxation on the Labour Market Dynamics of Older Workers

We estimate a dynamic structural life-cycle model of employment, non-employment and retirement that includes endogenous accumulation of human capital and intertemporal non-separabilities in preferences. In addition, the model accounts for the effects of income tax, social security contributions and the transfer system on work incentives. The structural parameter estimates are used to evaluate the employment ...