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Evaluating Continuous Training Programmes by Using the Generalized Propensity Score

The paper assesses the heterogeneity of treatment effects arising from variation in the duration of training. We use German administrative data that have the extraordinary feature that the amount of treatment varies continuously from 10 days to 395 days (i.e. 13 months). This feature allows us to estimate a continuous dose-response function that relates each value of the dose, i.e. days of training, ...

Transmission Investment in the Peruvian Electricity Market: Theory and Applications

This research presents an application of the mechanism in Hogan et al. (2010) (HRV) to promote electricity transmission network expansion in the Peruvian electricity transmission system known as SEIN (Sistema Eléctrico Interconectado Nacional). The HRV mechanism combines the merchant and regulatory approaches to promote investment into transmission grids. This mechanism gives incentives for efficient ...

Die abnehmende Bedeutung des Elternhauses: intergenerationale Übertragung von Parteibindungen in Deutschland 1984 bis 2010

The Private Equity Premium Puzzle Revisited: New Evidence on the Role of Heterogeneous Risk Attitudes

The empirical finding that entrepreneurs invest a large share of their wealth in their own firms, despite comparably low returns and high risk, has become known as the private equity premium puzzle. This paper provides evidence supporting the hypothesis that lower risk-aversion of entrepreneurs, and thus not necessarily credit constraints, may explain this puzzle. The analysis is based on a representative ...

The Political Economy of the German Länder Deficits: Weak Governments Meet Strong Finance Ministers

We analyse the deficits of the German Länder (regional states) for the period 1960 to 2005 and test a number of hypotheses derived from the literature on the political economy of public deficits. We find evidence for the weak government hypothesis, that is, coalition governments issue significantly more debt than single party governments - a result that is typically explained by the common pool problem. ...

Estimating Level Effects in Diffusion of a New Technology: Barcode Scanning at the Checkout Counter

Cross-country or cross-industry studies of technology diffusion typically estimate how independent factors affect diffusion speed or timing, often based on a two-stage approach. In many applications, however, countries (industries) differ most in the saturation level of diffusion. In a single-stage econometric approach to a standard diffusion model, we therefore estimate how the saturation level covaries ...

The Contextual Effects of Social Capital on Health: A Cross-National Instrumental Variable Analysis

Past research on the associations between area-level/contextual social capital and health has produced conflicting evidence. However, interpreting this rapidly growing literature is difficult because estimates using conventional regression are prone to major sources of bias including residual confounding and reverse causation. Instrumental variable (IV) analysis can reduce such bias. Using data on ...

Modeling Storage and Demand Management in Power Distribution Grids

Storage devices and demand control may constitute beneficial tools to optimize electricity generation with a large share of intermittent resources through inter-temporal substitution of load. This paper quantifies the related cost reductions in a simulation model of a simplified stylized medium-voltage grid (10 kV) under uncertain demand and wind output. Benders Decomposition Method is applied to create ...

Infant Mortality and Adult Stature in Spain

This paper presents new evidence concerning the relationship between environmental conditions in the year of birth (as reflected in the infant mortality rate (IMR) and gross domestic product per capita) and adult health (adult height). We perform an analysis across Spanish regions for cohorts born between 1961 and 1980, a period when the country underwent a socio-economic and political transformation. ...

Electric Vehicles in Imperfect Electricity Markets: The Case of Germany

We use a game-theoretic model to analyze the impacts of a hypothetical fleet of plug-in electric vehicles on the imperfectly competitive German electricity market. Electric vehicles bring both additional demand and additional storage capacity to the market. We determine the effects on prices, welfare, and electricity generation for various cases with different players in charge of vehicle operations. ...