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A State Space Model for Berlin House Prices: Estimation and Economic Interpretation

Hedonic regression has become the standard approach for modeling the behavior of house prices. Usually, the common price component is modeled via dummy variables. Based on an approximation for the present value, we deliver an economic interpretation of the common price component. This allows to include explanatory factors like inflation rates, mortgage rates and building permissions. The notional rents ...

The Incentives for Takeover in Oligopoly

We present a model of takeover where the target optimally sets its reserve price. Under relatively standard symmetry restrictions, we obtain a unique equilibrium. The probability of takeover is only a function of the number of firms and of the insiders' share of total industry gains due to the increase in concentration. Our main application is to the linear Cournot and Bertrand models. A takeover is ...

Acceptability of Transport Pricing Measures amongst Public and Professionals in Europe

Transport pricing has been an actively debated topic in the European Union for a number of years. This debate has been stimulated both by the European Commission policy and by a multitude of national policy initiatives. A central theme in this debate is the issue of the public and (linked to this) political acceptability of pricing measures. Indeed, concerns about acceptability now constitute the most ...

Does Male Age Have an Influence on the Risk of Spontaneous Abortion? An Approach Using Semiparametric Regression

Couples in industrialized countries tend to delay attempting to have children, which may lower their chances of livebirth. The authors assessed the association between male age and the risk of spontaneous abortion between weeks 5 and 20 of pregnancy, controlling for female age. They interviewed by telephone a random cross-sectional population of 1,151 French women who had been pregnant between 1985 ...

A Note on Regional Convergence within the EU

A recently published article suggested that factor prices within the EU converged between 1980 and 1992 but diverged between 1992 and 1994. However, these findings largely reflect inflation differentials and exchange rate adjustments. Markov chain analysis on the basis of an alternative income aggregate, GDP per capita measured in Purchasing Power Standards, leads to different results: Convergence ...

Wehr- und Zivildienst in Deutschland: Wer dient, wer nicht?

Incidence and Intensity of Smoothed Income Poverty in European Countries

The purpose of this paper is to obtain, by combining two longitudinal perspectives, a more detailed national picture of poverty in the member states of the European Union, using the first four waves (1994-7) of the European Community Household Panel (ECHP). In addition to this detailed consideration is given to the time dimension, poverty incidence, poverty gap and poverty intensity. Overall, the ranking ...

Imputed Rent and Income Inequality: A Decomposition Analysis for Great Britain, West Germany and the U.S.

This article deals with income advantages derived from owner-occupied housing and their impact on the personal income distribution. Using micro-data from the British Household Panel Study (BHPS), the German Socio-Economic Panel (SOEP), and the U.S. Panel Study of Income Dynamics (PSID) we find distinct cross-national differences in terms of the prevalence and extent of imputed rent. Results from inequality ...

Insider Privatisation and Restructuring Incentives

In the literature on privatisation and restructuring it is a generally held belief that manager owned firms will be restructured more rigorously than worker owned companies. This gives the clear recommendation that property rights and control rights should be allocated to managers in the process of (insider-) privatisation. One of the implied arguments is, that managers' career concerns will make them ...

Occupational Choice across Generations

There are few studies on occupational choices in Germany, and second-generation occupational choice and mobility has been investigated even less. Such research is important because occupations determine success in the labor market. In a country like Germany, occupations also reflect a general socio-economic standing. This paper looks at the patterns of employment in Germany, analyzes how individual ...