Publikationen des Vorstandsbereichs

Influence in the Face of Impunity

We compare dictator and impunity games. In impunity games, responders can reject offers but to no payoff consequence to proposers. Because proposers act under impunity, we should expect the same behavior across games, but experimentally observed behavior varies. Responders indeed exercise the rejection option. This threat psychologically influences proposers. Some proposers avoid rejection by offering ...

Maintaining Perceived Control with Unemployment Facilitates Future Adjustment

Unemployment is a major challenge to individuals' development. An important personal resource to ameliorate the negative impact of unemployment may be perceived control, a general-purpose belief system. Little is known, however, about how perceived control itself changes with the experience of unemployment and what the antecedents, correlates, and consequences of such change in perceived control are ...

Credit Provision and Banking Stability after the Great Financial Crisis: The Role of Bank Regulation and the Quality of Governance

In response to the Great Financial Crisis (GFC), bank regulatory regimes were tightened world-wide to strengthen banking stability and the resilience of the banking sectors. Yet, it is often claimed that regulatory tightening may lead banks to cut back on lending and comes at the cost of a lower loan supply. The present paper uses a country panel for 50 advanced and emerging market economies to analyze ...

Bubble Thy Neighbour: Portfolio Effects and Externalities from Capital Controls

We use changes in Brazil's tax on capital inflows from 2006 to 2013 to test for direct portfolio effects and externalities from capital controls on investor portfolios. We find that an increase in Brazil's tax on foreign investment in bonds causes fund managers to significantly decrease their portfolio allocations to Brazil in both bonds and equities. Fund managers simultaneously increase allocations ...

Long Working Hours and Alcohol Use: Systematic Review and Meta-analysis of Published Studies and Unpublished Individual Participant Data

Objective To quantify the association between long working hours and alcohol use.Design Systematic review and meta-analysis of published studies and unpublished individual participant data.Data sources A systematic search of PubMed and Embase databases in April 2014 for published studies, supplemented with manual searches. Unpublished individual participant data were obtained from 27 additional studies.Review ...

Confidence Bands for Impulse Responses: Bonferroni vs. Wald

In impulse response analysis estimation uncertainty is typically displayed by constructing bands around estimated impulse response functions. If they are based on the joint asymptotic distribution possibly constructed with bootstrap methods in a frequentist framework, often individual confidence intervals are simply connected to obtain the bands. Such bands are known to be too narrow and have a joint ...

Comparison of Methods for Constructing Joint Confidence Bands for Impulse Response Functions

In vector autoregressive analyses, confidence intervals for individual impulse responses are typically reported in order to indicate the sampling uncertainty in the estimation results. Various methods are reviewed, and a new method for the construction of joint confidence bands, given a prespecified coverage level, for the impulse responses at all horizons considered simultaneously, is proposed. The ...

Business Cycles, Unemployment and Entrepreneurial Entry: Evidence from Germany

We investigate whether people are more willing to become self-employed during boom periods or during recessions and to what extent business cycles and unemployment levels influence entries into entrepreneurship. Our analysis for Germany reveals that there is a positive relationship between unemployment rates and start-up activities. Moreover, new business formation is higher during recessions than ...

Secular Changes in Late-Life Cognition and Well-Being: Towards a Long Bright Future with a Short Brisk Ending?

How sociocultural contexts shape individual functioning is of prime interest for psychological inquiry. Secular increases favoring later-born cohorts in fluid intelligence measures are widely documented for young adults. In the current study, we quantified such trends in old age using data from highly comparable participants living in a narrowly defined geographical area and examined whether these ...

Why Did Self-Employment Increase so Strongly in Germany?