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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
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Referierte Aufsätze Web of Science
Care for people with chronic conditions is an issue of increasing importance in industrialized countries. This article examines three recent efforts at care coordination that have been evaluated but not yet included in systematic reviews. The first is Germany'sGesundes Kinzigtal, a population-based approach that organizes care across all health service sectors and indications in a targeted region. ...
In:
Health Affairs
33 (2014), 9, S. 1549-1558
| Reinhard Busse, Juliane Stahl
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Referierte Aufsätze Web of Science
We investigate the welfare impact of parallel imports using a large panel dataset containing monthly information on sales, ex-factory prices, and further product characteristics for all 649 anti-diabetic drugs sold in Germany between 2004 and 2010. We estimate a two-stage nested logit model of demand, and on the basis of an oligopolistic model of multi-product firms, we then recover the marginal costs ...
In:
Health Economics
23 (2014), 9, S. 1036-1057
| Tomaso Duso, Annika Herr, Moritz Suppliet
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Referierte Aufsätze Web of Science
This article empirically investigates the effects of differential income taxation on households' portfolio choice and asset allocation, applying a two-stage budgeting model of asset demand to German survey data. The model is structured into the discrete and the continuous asset choice. Cross-sectional variation in marginal tax rates, appropriately instrumented, as well as over-time variation from a ...
In:
Applied Economics
46 (2014), 8, S. 880-894
| Richard Ochmann
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Referierte Aufsätze Web of Science
Nach der Privatisierung entwickelte sich der Bankensektor in Osteuropa dynamisch. Dazu trugen massive Investitionen hauptsächlich westeuropäischer Kreditinstitute bei. Das änderte sich mit der Finanzkrise 2008/2009. Heute halten sich die Banken mit der Kreditvergabe zurück. Das Wachstumspotential in Osteuropa wird nicht ausgeschöpft. Voraussetzung für eine Ankurbelung der Kreditvergabe wäre, die Bankbilanzen ...
In:
Osteuropa
64 (2014), 7, S. 85-103
| Hella Engerer