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Referierte Aufsätze Web of Science
This paper investigates the link between the optimal level of non-financial firms' liquid assets and uncertainty. We develop a partial equilibrium model of precautionary demand for liquid assets showing that firms alter their liquidity ratio in response to changes in either macroeconomic or idiosyneratic uncertainty. We test this hypothesis using a panel of non-financial US firms drawn from the COMPUSTAT ...
In:
Economic Modelling
25 (2008), 5, S. 833-849
| Christopher F. Baum, Mustafa Caglayan, Andreas Stephan, Oleksandr Talavera
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Referierte Aufsätze Web of Science
We investigate the effects of regional and industrywide foreign presence and foreign direct investment (FDI) on the export volumes of Ukrainian manufacturing firms using unpublished panel data from 1996-2000. Foreign presence through FDI may have negative competition effects on domestic firms' performance; at the same time, domestic firms' productivity may be increased by technology transfer or training ...
In:
Emerging Markets, Finance & Trade
44 (2008), 5, S. 82-98
| Stefan Lutz, Oleksandr Talavera, Sang-Min Park
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Referierte Aufsätze Web of Science
Germany is known to have one of the lowest fertility rates among Western European countries and also relatively low employment rates of mothers with young children. Although these trends have been observed during the last decades, the German public has only recently begun discussing these issues. In order to reverse these trends, the German government recently passed a reform of the parental leave ...
In:
Population Research and Policy Review
27 (2008), 5, S. 575-591
| C. Katharina Spieß, Katharina Wrohlich
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Referierte Aufsätze Web of Science
The traditional approach to measuring allocative efficiency exploits input prices, which are rarely known at the firm level. This paper proves allocative efficiency can be measured as a profit-oriented distance to the frontier in a profit-technical efficiency space. This new approach does not require information on input prices. To validate the new approach, we perform a Monte-Carlo experiment providing ...
In:
Economic Modelling
25 (2008), 5, S. 1093-1109
| Oleg Badunenko, Michael Fritsch, Andreas Stephan
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Referierte Aufsätze Web of Science
We evaluate the interaction of inflation and growth forecast errors based on 17 distinct forecasts for the German economy for the period from 1970 to 2004. The forecasts were produced by 14 institutions. Our findings show that, in general, the forecasters did not share a common belief about the shocks driving the economy at the time at which they made their forecasts. We use a standard textbook aggregate-demand/aggregate-supply ...
In:
Applied Economics Letters
15 (2008), 5, S. 355-358
| Jörg Döpke, Ulrich Fritsche
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Referierte Aufsätze Web of Science
This paper examines the cyclical interactions between the remittances of Turkish workers in Germany and output in both Turkey and Germany. Our analysis introduces a new data set covering 1962 to 2004, never used before in the research literature and considered to be a more reliable source than the data sets used in other studies. By dividing the original sample into recruitment, family reunification, ...
In:
Emerging Markets, Finance & Trade
44 (2008), 5, S. 23-40
| Sule Akkoyunlu, Konstantin A. Kholodilin
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Referierte Aufsätze Web of Science
This paper investigates the effects of EU enlargement on price convergence. The internal market is expected to boost integration and increase efficiency and welfare through a convergence of prices in product markets. Two principal drivers are crucial to explain price developments. On one hand, higher competition exerts downward pressure on prices because of lower markups. On the other hand, the catching-up ...
In:
Eastern European Economics
46 (2008), 5, S. 57-68
| Christian Dreger, Konstantin Kholodilin, Kirsten Lommatzsch, Jiri Slacalek, Przemyslaw Wozniak
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Referierte Aufsätze Web of Science
In this paper we use the Kumar and Russell [American Economic Review (2002) Vol. 92, pp. 527-548] growth-accounting procedure to examine cross-country growth during the 1990s. Using a data set comprising developed, newly industrialized, developing and transitional economies, we decompose the growth of output per worker into components attributable to technological catch-up, technological change and ...
In:
Oxford Bulletin of Economics and Statistics
70 (2008), 4, S. 461-491
| Oleg Badunenko, Daniel J. Henderson, Valentin Zelenyuk
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Referierte Aufsätze Web of Science
Longitudinal data spanning 22 years, obtained from deceased participants of the German Socio-Economic Panel Study (SOEP; N = 1,637; 70- to 100-year-olds), were used to examine if and how life satisfaction exhibits terminal decline at the end of life. Changes in life satisfaction were more strongly associated with distance to death than with distance from birth (chronological age). Multiphase growth ...
In:
Developmental Psychology
44 (2008), 4, S. 1148-1159
| Denis Gerstorf, Nilam Ram, Ryne Estabrook, Jürgen Schupp, Gert G. Wagner, Ulman Lindenberger
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Referierte Aufsätze Web of Science
This paper tests the hypothesis that the ongoing restructuring process in the European electricity sector has led to a common European market for electricity. Based on a Principal Component Analysis (PCA) of wholesale electricity prices in 2002-2006, we reject the assumption of full market integration. For several pairs of countries, the weaker hypothesis of (bilateral) convergence is accepted based ...
In:
Energy Economics
30 (2008), 4, S. 1659-1671
| Georg Zachmann