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Referierte Aufsätze Web of Science
Tax competition for capital has led to a trend where many countries levy lower taxes on interest income, often introducing differential taxation between interest and business income. This study analyzes the effect on firm debt usage. We exploit Germany’s 2009 tax reform, which introduced a final withholding tax on interest income with a flat rate 18 percentage points below the unchanged tax rate on ...
In:
International Tax and Public Finance
23 (2016), 1, S. 48-81
| Frank M. Fossen, Martin Simmler
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Referierte Aufsätze Web of Science
Nonparametric efficiency analysis has become a widely applied technique to support industrial benchmarking as well as a variety of incentive-based regulation policies. In practice such exercises are often plagued by incomplete knowledge about the correct specifications of inputs and outputs. Simar and Wilson (Commun Stat Simul Comput 30(1):159–184, 2001) and Schubert and Simar (J Prod Anal 36(1):55–69, ...
In:
Journal of Productivity Analysis
45 (2016), 1, S. 35-51
| Anne Neumann, Maria Nieswand, Torben Schubert
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Referierte Aufsätze Web of Science
This article provides an introduction to the European Union (EU) Emissions Trading System (ETS). First we describe the legislative development of the EU ETS, its evolution from free allocation to auctioning and centralized allocation rules, its relationship to the Kyoto Protocol and other trading systems, and its relationship to other EU climate and energy policies. This is followed by an assessment ...
In:
Review of Environmental Economics and Policy
10 (2016), 1, S. 89-107
| Denny Ellerman, Claudio Marcantonini, Aleksandar Zaklan
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Referierte Aufsätze Web of Science
This paper evaluates the price effects of the merger of two major U.K. book retailers. We use a dataset containing monthly scanner data on a sample of 200 books in 50 local markets for four years around the merger. We compare the price changes after the merger in shops located in areas where both chains were present before the merger and in areas where only one chain was present. We also investigate ...
In:
The Journal of Industrial Economics
64 (2016),1, S. 170-200
| Luca Aguzzoni, Elena Argentesi, Lorenzo Ciari, Tomaso Duso, Massimo Tognoni
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Referierte Aufsätze Web of Science
We re-examine the common wisdom that cross-border mergers are the most effective merger strategy for firms facing powerful unions. In contrast, we obtain a domestic merger outcome whenever firms are sufficiently heterogeneous (in terms of productive efficiency and product differentiation). A domestic merger unfolds a “wage-unifying” effect which limits the union's ability to extract rents. When products ...
In:
Journal of Economic Behavior & Organization
127 (2016), S. 16-29
| Irina Baye, Beatrice Pagel, Christian Wey
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Referierte Aufsätze Web of Science
In Germany and beyond, various capacity mechanisms are currently being discussed with a view to improving the security of electricity supply. One of these mechanisms is a strategic reserve that retains generation capacity for use in times of critical supply shortage. We argue that strategic reserves have specific advantages compared to other capacity mechanisms in the context of the European energy ...
In:
Utilities Policy
41 (2016), S. 252-263
| Karsten Neuhoff, Jochen Diekmann, Friedrich Kunz, Sophia Rüster, Wolf-Peter Schill, Sebastian Schwenen
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Referierte Aufsätze Web of Science
This modeling comparison exercise looks at the global consequences of increased shale gas production in the U.S. and increased gas demand from Asia. We find that differences in models' theoretical construct and assumptions can lead to divergences in their predictions about the consequences of U.S. shale gas boom. In general, models find that U.S. High Shale Gas scenario leads to increased U.S. production, ...
In:
Energy Economics
60 (2016), S. 405-415
| Sonia Yeh, Yiyong Cai, Daniel Huppman, Paul Bernstein, Sugandha Tuladhar, Hillard G. Huntington
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Referierte Aufsätze Web of Science
This paper investigates the macroeconomic risks associated with undesirably low inflation using a medium-sized New Keynesian model. We consider different causes of persistently low inflation, including a downward shift in long-run inflation expectations, a fall in nominal wage growth, and a favorable supply-side shock. We show that the macroeconomic effects of persistently low inflation depend crucially ...
In:
European Economic Review
88 (2016), S. 88-107
| Jonas E. Arias, Christopher Erceg, MathiasTrabandt
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Referierte Aufsätze Web of Science
We analyse the effects of playing music, or doing sports on education and health outcomes of adolescents. After identifying adolescents who play music, do sports, or both, in the German Socio-Economic Panel, we use matching procedures to estimate causal effects. We find that playing music instead of doing sports fosters educational outcomes by about 0.1 standard deviations. Effects are stronger for ...
In:
Labour Economics
41 (2016), S. 90-103
| Charlotte Cabane, Adrian Hille, Michael Lechner
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Referierte Aufsätze Web of Science
Natural gas gained significant attention due to its low carbon emissions and competitive prices in North America relative to other energy sources. The Annual Energy Outlook 2015 projects the U.S. as a net exporter by 2017. Recently, Mexico launched its energy reform, aiming to expand domestic production by opening the market to private investors. The success or failure of these policy changes will ...
In:
Energy
112 (2016), S. 1084-1095
| Felipe Feijoo, Daniel Huppmann, Larissa Sakiyama, Sauleh Siddiqui