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Referierte Aufsätze Web of Science
Multiplicative growth processes that are subject to random shocks often have an asymmetric distribution of outcomes. In a series of incentivized laboratory experiments, we show that a large majority of participants either strongly underestimatethe asymmetry or ignore it completely. Participants misperceive the spread of the outcome distribution to be too narrowband, and they estimate the median and ...
In:
Management Science
64 (2018), 4, S. 1693-1706
| Ludwig Ensthaler, Olga Nottmeyer, Georg Weizsäcker, Christian Zankiewicz
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Referierte Aufsätze Web of Science
This paper uses a structural VAR model to study the effect of monetary policy on the delinquency rate of business loans and consumer credit. The VAR is identified using, jointly, several external instruments that reflect different approaches from the literature. Delinquency rates, defined as the rate of loans with overdue repayments relative to total loans, are found to decrease in response to an exogenous ...
In:
International Journal of Central Banking
14 82018), 4, S. 327-358
| Michele Piffer
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Referierte Aufsätze Web of Science
This paper proposes a new nonparametric method of constructing joint confidence bands for impulse response functions of vector autoregressive models. The estimation uncertainty is captured by means of bootstrapping, and the highest density region (HDR) approach is used to construct the bands. A Monte Carlo comparison of the HDR bands with existing alternatives shows that the former are competitive ...
In:
Empirical Economics
55 (2018), 4, S. 1389-1411
| Helmut Lütkepohl, Anna Staszewska-Bystrova, Peter Winker
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Referierte Aufsätze Web of Science
We solve the problem of a social planner who seeks to minimize inequality via transfers with a fixed public budget in a distribution of exogenously given incomes. The appropriate solution method depends on the objective function: If it is convex, it can be solved by an interior-point algorithm. If it is quasiconvex, the bisection method can be used. Using artificial and real-world data, we implement ...
In:
Journal of Economic Inequality
16 (2018), 4, S. 607-629
| Johannes König, Carsten Schröder
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Referierte Aufsätze Web of Science
We empirically investigate the distributional consequences of the Riester scheme, the main private pension subsidization program in Germany. We find that 38% of the aggregate subsidy accrues to the top two deciles of the income distribution, but only 7.3% to the bottom two. Nonetheless the Riester scheme is almost distributionally neutral in terms of standard inequality measures. Two effects offset ...
In:
Finanzarchiv
74 (2018) 4, S. 415-445
| Giacomo Corneo, Johannes König, Carsten Schröder
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Referierte Aufsätze Web of Science
In the light of the unconventional monetary policies implemented by most large central banks around the world, there is an intense debate about the potential impact on the prices of capital assets. Particularly in Germany, skepticism about the sustainability of the current policy by the European Central Bank is wide spread and concerns about the emergence of a speculative price bubble in the housing ...
In:
Empirical Economics
55 (2018), 4, S. 1957-1983
| Konstantin A. Kholodilin, Claus Michelsen, Dirk Ulbricht
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Referierte Aufsätze Web of Science
Background and Aims: While research has focused on outcomes of tobacco control policies, less is known about the mechanisms by which policies may affect tobacco use. We estimated the associations of changes in cigarette taxes and smoke‐free legislation with (1) any household cigarette expenditure and (2) the level of household expenditure on cigarettes, as well as (3) tested interactions with socio‐economic ...
In:
Addiction
114 (2018), 4, S. 721-729
| Summer Sherburne Hawkins, Melissa Kull, Christopher F. Baum
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Referierte Aufsätze Web of Science
This study investigates whether the expansion of public child care for children aged younger than 3 years in Germany has been associated with individual‐level change in gender ideologies. The authors develop and test a theoretical framework of the short‐term impact of family policy institutions on ideology change. The analysis links the German Family Panel pairfam (2008 to 2015) with administrative ...
In:
Journal of Marriage and Family
80 (2018), 4, S. 1020-1039
| Gundula Zoch, Pia S. Schober
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Referierte Aufsätze Web of Science
Against the background of remunicipalisation trends in European public service sectors, this paper estimates firm-level productivity for German electricity retailers and tests whether the ownership type has a significant impact on productivity. We specify a production function for the retail sector with labour and external services as main inputs, which is estimated using a control function approach. ...
In:
German Economic Review
19 (2018), 4, S. 401-425
| Caroline Stiel, Astrid Cullmann, Maria Nieswand
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Referierte Aufsätze Web of Science
This study examines how educational differences in work-care patterns among mothers with young children in Germany changed between 1997 and 2013. Since the mid-2000s, Germany has undergone a paradigm shift in parental leave and childcare policies. Our comparative analysis of East and West Germany provides new evidence on whether the long-standing gender regime differences interact with recent developments ...
In:
Work, Employment and Society
32 (2018), 4, S. 629-649
| Pia S. Schober, Juliane F. Stahl