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Growth Accelerations Revisited

Hausmann, Pritchett, and Rodrik (2005) found that political regime changes, external shocks and economic reforms are statistically significant predictors of growth accelerations. Updating the data from 1992 up to 2000 and correcting for coding errors, this paper argues that the original results are fragile upon changes in period, sample, measures, and inclusion of controls. All the data are provided ...

The External Financing of Emerging Markets: Evidence from Two Waves of Financial Globalization

What determines the yields at which international investors are willing to lend to emerging market countries, and the amounts of such lending? We analyze the motivation underlying investors' choices in allocating their holdings across countries, through regressions for both prices (bond yields) and quantities (bond market capitalization or stocks of external liabilities) estimated during two waves ...

Participation in Micro Life Insurance and the Use of Other Financial Services in Ghana

This article investigates households' decisions to take up micro life insurance and to use other financial services. It estimates a multivariate probit model based on Ghanaian household survey data. The results suggest a mutually reinforcing relationship between the use of insurance and the use of other formal financial services. Risk-averse households and households who consider themselves more exposed ...

Die wahrgenommene Gerechtigkeit des eigenen Erwerbseinkommens: geschlechtstypische Muster und die Bedeutung des Haushaltskontextes

Die zunehmende Erwerbsbeteiligung von Frauen und die Ausbreitung "atypischer" Beschäftigungsverhältnisse hat zur Folge, dass der Anteil an Haushalten, in denen der Mann der alleinige Ernährer der Familie ist, abnimmt und der Anteil an Zweiverdienerhaushalten seit Jahren ansteigt. Vor diesem Hintergrund fragt dieser Beitrag, welche Bedeutung Haushaltskontexte, in denen das traditionelle male-breadwinner-Modell ...

Reflections on Implementing EU ETS : Pricing Carbon: The European Union Emissions Trading Scheme. A Denny Ellerman ... , Cambridge University Press, New York 2010, 390 pp: Book Review

Detecting Illegal Activities: The Case of Cartels

This paper considers enhancements of a comparatively new method to detect cartels, the System of Cartel Markers (SCM), introduced by Blanckenburg and Geist (Int Adv Econ Res 15(4):421-436, 2009). The aim of SCM is to find illegal collusion on legal markets with observable market data. It uses expected behavior patterns such aslow level of capacity utilization, slackness of price adjustments to exogenous ...

Maternal Life Satisfaction and Child Outcomes: Are They Related?

This paper investigates the association between maternal life satisfaction and the developmental functioning of 2-3-year-old children as well as the socio-emotional behavior of 5-6-year-old children. We use data from the German Socio-Economic Panel Study (SOEP), which allows us to control for a rich set of child and parental characteristics and to use the mother's life satisfaction before the birth ...

Incentives for Transmission Investment in the PJM Electricity Market: FTRs or Regulation (or Both?)

This paper presents an application of a mechanism that provides incentives to promote transmission network expansion in the area of the US electric system known as PJM. The applied mechanism combines the merchant and regulatory approaches to attract investment into transmission grids. It is based on rebalancing a two-part tariff in the framework of a wholesale electricity market with locational pricing. ...

A Dynamic Incentive Mechanism for Transmission Expansion in Electricity Networks: Theory, Modeling, and Application

We propose a price-cap mechanism for electricity-transmission expansion based on redefining transmission output in terms of financial transmission rights. Our mechanism applies the incentive-regulation logic of rebalancing a two-part tariff. First, we test this mechanism in a three-node network. We show that the mechanism intertemporally promotes an investment pattern that relieves congestion, increases ...

The Impact of Household Capital Income on Income Inequality: A Factor Decomposition Analysis for the UK, Germany and the USA

This paper analyses the contribution of capital income to income inequality in a cross-national comparison. Using micro-data from the Cross-National Equivalent File (CNEF) for three prominent panel studies, namely the BHPS for the UK, the SOEP for West Germany, and the PSID for the USA, we use the factor decomposition method described by Shorrocks (Econometrica 50:193-211, 1982). The factor decomposition ...