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Referierte Aufsätze Web of Science
The idea of higher wealth taxes to finance the mounting public debt in the wake of the financial crisis is gaining ground in several OECD countries. We evaluate the revenue and distributional effects of a one-time capital levy on personal net wealth that is currently on the political agenda in Germany. We use survey data from the German Socio-Economic Panel (SOEP) and estimate the net wealth distribution ...
In:
Fiscal Studies
35 (2014), 1, S. 67-89
| Stefan Bach, Martin Beznoska, Viktor Steiner
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Referierte Aufsätze Web of Science
We evaluate the informational content of ex post and ex ante predictors of periods of excess stock (market) valuation. For a cross-section comprising 10 OECD economies and a time span of at most 40 years, alternative binary chronologies of price bubble periods are determined. Using these chronologies as dependent processes and a set of macroeconomic and financial variables as explanatory variables, ...
In:
Journal of Forecasting
33 (2014), 1, S. 15-31
| Helmut Herwartz, Konstantin A. Kholodilin
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Referierte Aufsätze Web of Science
What are the economic effects of a central bank that takes the evolution of house prices into account? In an attempt to answer this question, we use a New Keynesian dynamic stochastic general equilibrium model with a housing sector to explore the economic impacts of a central bank reacting to house price inflation. We examine this in the context of two different shocks that are associated with two ...
In:
Journal of Housing Economics
26 (2014), S. 119-125
| Guido Baldi
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Referierte Aufsätze Web of Science
Other-regarding preferences in adults have been examined in depth in the literature. Research has shown that spiteful preferences play a crucial role in the development of human large-scale cooperation. However, there is little evidence of the factors explaining spiteful behavior in children. We investigate the relationship between children’s cognitive skills and spiteful behavior in a sample of 214 ...
In:
Journal of Economic Psychology
45 (2014), S. 154-167
| Elisabeth Bügelmayer, C. Katharina Spieß
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Referierte Aufsätze Web of Science
Economic disparity between ethnic groups is sometimes supposed to be the main driver of ethnic conflict. Understanding the extent and the sources of such disparity is then important to help formulate policies that aim at avoiding further conflict. This paper analyzes economic disparity between Kyrgyz and Uzbeks in southern Kyrgyzstan. These groups were involved in violent clashes in the recent past. ...
In:
Journal of Comparative Economics
42 (2014), Iss. 4, S. 970-982
| Damir Esenaliev, Susan Steiner
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Referierte Aufsätze Web of Science
Based on data from the Panel Study of Income Dynamics and the Socio-economic Panel, we study the class mobility of three concurrent generations in the U.S. and Germany. We find that, in both countries, the grandfathers’ class is directly associated with their grandchildren's social position. We propose three possible mechanisms which could explain the observed multigenerational mobility patterns. First, ...
In:
Research in Social Stratification and Mobility
35 (2014), S. 35-42
| Florian R. Hertel, Olaf Groh-Samberg
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Referierte Aufsätze Web of Science
To date, the distributive implications of incentive regulation on electricity transmission networks have not been explicitly studied in the literature. More specifically, the parameters that a regulator might use to achieve distributive efficiency under price-cap regulation have not yet been identified. To discern these parameters is the motivation for the research presented in this paper. We study ...
In:
Energy Policy
69 (2014), S. 189-204
| Luis Ángel Herrera, Juan Rosellon
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Referierte Aufsätze Web of Science
Reference price systems for prescription drugs constitute widely adopted cost containment tools. Under these regimes, patients co-pay a fraction of the difference between a drug's pharmacy retail price and a reference price that is set by the government. Reference prices are either externally (based on drug prices in other countries) or internally (based on domestic drug prices) determined. We study ...
In:
Journal of Health Economics
36 (2014), S.174-187
| Ulrich Kaiser, Susan J. Méndez, Thomas Rønde, Hannes Ullrich
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Referierte Aufsätze Web of Science
Supply security in imperfect power markets is modelled under different market designs. In a uniform price auction for electricity with two firms, strategic behaviour may leave firms offering too few capacities and unable to supply all realized demand. Market design that relies on capacity markets increases available generation capacities for sufficiently high capacity prices and consequently decreases ...
In:
Energy Economics
43 (2014), S. 256-263
| Sebastian Schwenen
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Referierte Aufsätze Web of Science
Households can rely on private savings or on public unemployment insurance to hedge against the risk of becoming unemployed. These hedging mechanisms are used differently across countries. In this paper, we use a life cycle model to study the effects of unemployment on the portfolio choice of households in the US and in Germany. We distinguish short- and long-term unemployment and find that, in case ...
In:
Journal of Macroeconomics
40 (2014), S. 90-113
| Franziska Bremus, Vladimir Kuzin