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Referierte Aufsätze Web of Science
Whilst congestion in automobile traffic increases trip durations, this is often not the case in rail-based public transport where congestion rather leads to in-vehicle crowding, often neglected in empirical studies. Using original survey data from Paris, this article assesses the distribution of comfort costs of congestion in public transport. Estimating willingness to pay for less crowded trips at ...
In:
Transportation Research Part A: Policy and Practice
77 (2015), 182-201
| Luke Haywood, Martin Koning
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Referierte Aufsätze Web of Science
Bond excess returns can be predicted by macro factors, however, large parts remain still unexplained. We apply a novel term structure model to decompose bond excess returns into expected excess returns (risk premia) and the innovation part. In order to explore these risk premia and innovations, we complement macro variables by financial condition variables as possible determinants of bond excess returns. ...
In:
Journal of Banking & Finance
58 (2015), S. 80-94
| Christoph Fricke, Lukas Menkhoff
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Referierte Aufsätze Web of Science
We analyze the impacts of future scenarios of electric vehicles (EVs) on the German power system, drawing on different assumptions on the charging mode. We find that the impact on the load duration curve strongly differs between charging modes. In a fully user-driven mode, charging largely occurs during daytime and in the evening, when power demand is already high. User-driven charging may thus have ...
In:
Applied Energy
156 (2015), S. 185-196
| Wolf-Peter Schill, Clemens Gerbaulet
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Referierte Aufsätze Web of Science
DSM (demand-side management) merits increased attention by power system modelers. Numerical models should incorporate DSM constraints in a complete and consistent way. Otherwise, flawed DSM patterns and distorted conclusions on the system benefits of demand-side management are inevitable. Building on a model formulation put forward by Göransson et al. (2014), it is first suggested to include an additional ...
In:
Energy
84 (2015), S. 840-845
| Alexander Zerrahn, Wolf-Peter Schill
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Referierte Aufsätze Web of Science
This study assesses whether the international monetary system is already tri-polar by testing what we call China's ‘dominance hypothesis’, i.e. whether the renminbi already influences exchange rate and monetary policies strongly in Asia, a direct reference to the old ‘German dominance hypothesis’ which ascribed to the German mark a dominant role in Europe in the 1980s. Using a global factor model of ...
In:
The Economic Journal
124 (2014), Iss. 581, S. 1343-1370
| Marcel Fratzscher, Arnaud Mehl
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Referierte Aufsätze Web of Science
Central banks regularly communicate about financial stability issues. This article asks how such communications affect financial markets, based on a unique dataset covering more than 1,000 releases of Financial Stability Reports (FSRs) and speeches by 37 central banks over the past 14 years. The findings suggest that optimistic FSRs lead to significant and potentially long-lasting positive abnormal ...
In:
The Economic Journal
124 (2014), 577, S. 701-734
| Benjamin Born, Michael Ehrmann, Marcel Fratzscher
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Referierte Aufsätze Web of Science
This paper estimates the effect of involuntary job loss on smoking behaviour and body weight using German SOEP data. Baseline non-smokers are more likely to start smoking due to job loss, while smokers do not intensify smoking. In particular, single individuals and those with lower health or socioeconomic status prior to job loss exhibit high rates of smoking initiation. Job loss increases body weight ...
In:
Economica
81 (2014), 324, S. 626-648
| Jan Marcus
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Referierte Aufsätze Web of Science
Despite high economic growth during the past decades, China is still vulnerable to shocks arising from industrial states. The advanced economies strongly influence Chinese export performance, with subsequent effects on output growth. Using a production function, this article examines to which extent regional GDP growth in China is export driven. In a panel of 28 Chinese provinces, series are splitted ...
In:
Applied Economics
46 (2014), 35, S. 4302-4308
| Christian Dreger, Yanqun Zhang
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Referierte Aufsätze Web of Science
Expenditures devoted to research and development (R&D) are scarce and thus need to be used as efficiently as possible given the financial constraints countries are facing. This article assesses the relative efficiency of R&D expenditures for 26 OECD member countries and two nonmember countries. As countries differ in their national innovation systems and states of economic development and industrialization, ...
In:
Applied Economics
46 (2014), 30, S. 3750-3762
| Astrid Cullmann, Petra Zloczysti
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Referierte Aufsätze Web of Science
A strong private equity (PE) market is a cornerstone for commercialization and innovation in modern economies. However, substantial differences exist in the relative amounts raised and invested in PE across European countries. We investigate the macroeconomic determinants of PE investment in Europe, focusing on the comparison between Central and Eastern European (CEE) and Western European countries. ...
In:
Applied Economics
46 (2014),11, S. 1170-1183
| Kerstin Bernoth, Roberta Colavecchio