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Referierte Aufsätze Web of Science
Motivated by the action plan for a European capital markets union (CMU), this paper analyzes the potential for legal harmonization and convergence in institutional quality to affect capital market integration. Based on hand-collected data on the implementation of EU-directives, our analysis yields three key insights. First, legal harmonization promotes portfolio equity holdings. Second, discrepancies ...
In:
Journal of International Money and Finance
107 (2020), 102217, 19 S.
| Franziska Bremus, Tatsiana Kliatskova
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Referierte Aufsätze Web of Science
Regulatory bank levies set incentives for banks to reduce leverage. At the same time, corporate income taxation makes funding through debt more attractive. In this paper, we explore how regulatory levies affect bank capital structure, depending on corporate income taxation. Based on bank balance sheet data from 2006 to 2014 for a panel of EU-banks, our analysis yields three main results: The introduction ...
In:
Journal of Banking & Finance
118 (2020), 105874
| Franziska Bremus, Kirsten Schmidt, Lena Tonzer
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Referierte Aufsätze Web of Science
Combined heat and power (CHP) can achieve fuel efficiencies of up to 90% and is thus considered as economically advantageous and ecologically sound compared to uncoupled power and heat generation. This advantage is exploited only if CHP plants are operated as much as possible at their optimal operation point. Increasing penetration by variable renewable energy sources and more flexible technologies ...
In:
Applied Energy
267 (2020), 114727, 17 S.
| Andreas Bloess
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Referierte Aufsätze Web of Science
We examine the effect of local business taxation and local public good and service (PIGS) provision on the number and spatial distribution of new firms. Testing ground is Germany and we rely on the universe of firm foundations between 1998 and 2006. Methodologically, we estimate fixed effects poisson models coupled with a control function approach. The results suggest that a 1%-decrease in the business ...
In:
Regional Science & Urban Economics
83 (2020), 103525, 21 S.
| Nadine Riedel, Martin Simmler, Christian Wittrock
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Referierte Aufsätze Web of Science
Using electricity for heating can contribute to decarbonization and provide flexibility to integrate variable re-newable energy. We analyze the case of electric storage heaters in German 2030 scenarios with an open-sourceelectricity sector model. We find that flexible electric heaters generally increase the use of generation tech-nologies with low variable costs, which are not necessarily renewables. ...
In:
Applied Energy
266 (2020), 114571, 18 S.
| Wolf-PeterSchill, AlexanderZerrahn
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Referierte Aufsätze Web of Science
Colombia faces several challenges to secure a reliable, affordable, and climate-friendly energy supply. Persistently low reserve-to-production ratios in oil and gas, together with advancing climate change, are putting the country’s energy system at risk. Heavily relying on hydro-power, Colombia’s electricity system will become more vulnerable with extreme weather patterns such as El Niño. This paper ...
In:
Renewable Energy
148 (2020), S. 1266-1279
| Andrea Ruíz López, Alexandra Krumm, Lukas Schattenhofer, Felipe Corral Montoya, Nora Oberländer, Pao-Yu Oei
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Referierte Aufsätze Web of Science
Understanding whether laws shape or simply reflect citizens’ attitudes is important but empirically difficult. We provide new evidence on this question by studying the relation between legal same-sex relationship recognition policies (SSRRPs) and attitudes toward sexual minorities in Europe. Using data from the European Social Surveys covering 2002–2016 and exploiting variation in the timing of SSRRPs ...
In:
European Economic Review
124 (2020), 103399, 18 S.
| Cevat G. Aksoy, Christopher S. Carpenter, Ralph De Haas, Kevin Ducbao Tran
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Referierte Aufsätze Web of Science
We estimate the impact of monetary policy on structural reform adoption in the euro area. We identify exogenous ECB policy changes through an event study that extracts the unexpected variation in euro area interest rates on policy announcement days. We find that surprise monetary expansions increase the number of reforms significantly and that the effect is stronger for countries with weaker macroeconomic ...
In:
European Economic Review
122 (2020), 103361, 20 S.
| Malte Rieth, Jana Wittlich
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Referierte Aufsätze Web of Science
Fair Trade certification aims at transferring wealth from the consumer to the farmer; however, coffee passes through many hands before reaching final consumers. Bringing together retail, wholesale, and stock market data, this study estimates how much more consumers are paying for Fair Trade-certified coffee in US supermarkets and finds estimates around $1.50 per lb. The study then assesses how this ...
In:
World Development
133 (2020), 105006, 12 S.
| Helene Naegele
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Referierte Aufsätze Web of Science
Short-term electricity markets are key to an efficient production by generation units. We develop a two-period model to assess different bidding formats to determine for each bidding format the optimal bidding strategy of competitive generators facing price-uncertainty. We compare the results for simple bidding, block bidding and multi-part bidding. We find that even under optimal simple and block ...
In:
Energy Economics
89 (2020), 104784, 16 S.
| Jörn C.Richstein, Casimir Lorenz, KarstenNeuhoff