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How People Know Their Risk Preference

People differ in their willingness to take risks. Recent work found that revealed preference tasks (e.g., laboratory lotteries)—a dominant class of measures—are outperformed by survey-based stated preferences, which are more stable and predict real-world risk taking across different domains. How can stated preferences, often criticised as inconsequential “cheap talk,” be more valid and predictive ...

Abuse of Dominance and Antitrust Enforcement in the German Electricity Market

Depression, Neuroticism and 2D:4D Ratio: Evidence from a Large, Representative Sample

A body of literature reports higher rates of depression and neuroticism in female samples compared to male samples. Numerous studies have investigated the role of prenatal sex hormone exposure in this sex difference, using the ratio between the second and fourth digit of the hand (“2D:4D”) as a putative marker. However, the sample sizes of those studies were mostly small and results remained inconclusive. ...

Living Conditions and the Mental Health and Well-being of Refugees: Evidence from a Large-Scale German Survey

Refugees are at an increased risk of mental health problems and low subjective well-being. Living circumstances in the host country are thought to play a vital role in shaping these health outcomes, which, in turn, are prerequisites for successful integration. Using data from a representative survey of 4325 adult refugees who arrived in Germany between 2013 and 2016, we investigated how different living ...

Psychological Distress among Refugees in Germany: A Cross-Sectional Analysis of Individual and Contextual Risk Factors and Potential Consequences for Integration Using a Nationally Representative Survey

Objectives Responding to the mental health needs of refugees remains a pressing challenge worldwide. We estimated the prevalence of psychological distress in a large refugee population in Germany and assessed its association with host country factors amenable to policy intervention and integration indicators.Design A cross-sectional and population- based secondary analysis of the 2017 wave of the IAB- ...

The Impact of Liquidity and Capital Requirements on Lending and Stability of African Banks

We assess whether compliance with Basel III’s main requirements, the Net Stable Funding Ratio (NSFR) and the risk-weighted Total Capital Ratio (TCR), matters for lending and stability of African banks. Banks with an NSFR or a TCR of at least the required minimum are defined as treatment group in the endogenous treatment estimations. Our results reveal that African banks complying with the capital threshold ...

Inflation Targeting as a Shock Absorber

We study the characteristics of inflation targeting as a shock absorber, using quarterly data for a large panel of countries. To overcome an endogeneity problem between monetary regimes and the likelihood of crises, we propose to study large natural disasters. We find that inflation targeting improves macroeconomic performance following such exogenous shocks. It lowers inflation, raises output growth, ...

Structural Vector Autoregressive Models with More Shocks Than Variables Identified via Heteroskedasticity

In conventional structural vector autoregressive models it is assumed that there are at most as manystructural shocks as there are variables in the model. It is pointed out that heteroskedasticity can beused to identify more shocks than variables. Results are provided that allow a researcher to assesshow many shocks can be identified from specific forms of heteroskedasticity.

Understanding Day Care Enrolment Gaps

We document gaps in day care enrolment by family background in a country with a universal day care system (Germany). Research demonstrates that children of parents with lower educational attainment and children of migrant parents may benefit the most from day care, making it important to understand why such enrolment gaps exist. We use a unique data set that records both parental demand for day care ...

Local Fiscal Policies and Their Impact on the Number and Spatial Distribution of New Firms

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 ...