We analyse the first twenty years of the euro both from an economic and an institutional perspective. We find that in particular during the period since the financial crisis, convergence as measured by a variety of indicators has not improved. Design flaws in the Eurozone institutional architecture have contributed importantly to this lack of convergence. This is why further reforms are urgently needed. ...
The human personality predicts a wide range of activities and occupational choices—from musical sophistication to entrepreneurial careers. However, which method should be applied if information on personality traits is used for prediction and advice? In psychological research, group profiles are widely employed. In this contribution, we examine the performance of profiles using the example of career ...
We analyze whether start-up rates in different industries systematically change with business cycle variables. Using a unique data set at the industry level, we mostly find correlations that are consistent with counter-cyclical influences of the business cycle on entries in both innovative and non-innovative industries. Entries into the largescale industries, including the innovative part of manufacturing, ...
NS-War Economy 1933-1945 and Abstract: The Emergence of the Planned Economy in East-Germany 1945-1949/50 The major part deals with economic statistics as an instrument for warfare and war preparation. Firstly, the involvement of German Statistical Office (Statistisches Reichsamt) is described and analyzed: as soon as in 1934, plans emerged in the Office to conduct periodical industrial censuses as ...
Using data for the trades of 19 central banks intervening in currency markets, we show that leaning against the wind by individual central banks leads to "systematic intervention" in the aggregate central banking sector. This systematic intervention is driven by and impacts on the same factors that drive currency excess returns: carry, momentum, value, and a dollar factor. The sensitivity of an individual ...
This paper examines foreign exchange intervention based on novel daily data covering 33 countries from 1995 to 2011. We find that intervention is widely used and an effective policy tool, with a success rate in excess of 80 percent under somecriteria. The policy works well in terms of smoothing the path of exchange rates, and in stabilizing the exchange rate in countries with narrow band regimes. Moving ...
We address the question of whether media influences occupational choices. To theoretically examine media effects, we construct a dynamic Bayesian occupational choice model with sequential decisions under ambiguity due to imperfect information. We show that sufficiently intensive positive media articles and reports about entrepreneurship increase the probability of self-employment and decrease the probability ...
Changing employment conditions lead to new chances, but also new risks for employees. In the literature, increasing permeability between occupational and private life is discussed as one special outcome of this development that employees must face, especially those in highly qualified positions. Drawing on existing research, we investigate in how far women and men in those positions differ in their ...
