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1988 results, from 21
Diskussionspapiere 1965 / 2021

Estimating Demand with Multi-Homing in Two-Sided Markets

We empirically investigate the relevance of multi-homing in two-sided markets. First, we build a micro-founded structural econometric model that encompasses demand for differentiated products and allows for multi-homing on both sides of the market. We then use an original dataset on the Italian daily newspaper market that includes information on double-homing by readers to estimate readers’ and advertisers’ ...

2021| Pauline Affeldt, Elena Argentesi, Lapo Filistrucchi
Diskussionspapiere 1964 / 2021

Income Business Cycles

Using a wide variety of business cycle dating and filtering techniques, this paper documents the cyclical behavior of the post-tax income distribution in the US. First, all incomes are cyclical and co-move with the business cycle. Second, lower and higher income individuals experience significantly larger fluctuations across the business cycle than middle-income individuals. Third, these fluctuations ...

2021| Geraldine Dany-Knedlik, Alexander Kriwoluzky, Sandra Pasch
Diskussionspapiere 1963 / 2021

Strengthening Gender Justice in a Just Transition: A Research Agenda Based on a Systematic Map of Gender in Coal Transitions

For climate change mitigation a rapid phase-out of fossil fuels such as coal is necessary. This has far-reaching gender-specific consequences. This paper presents a systematic map of the literature that examines the impact of historical coal phase-out processes on women and their role in these processes. The search process consists of screening 2,816 abstracts and reading 247 full-text studies. The ...

2021| Paula Walk, Isabell Braunger, Josephine Semb, Carolin Brodtmann, Pao-Yu Oei, Claudia Kemfert
Diskussionspapiere 1962 / 2021

Risky Asset Holdings during Covid-19 and Their Distributional Impact: Evidence from Germany

We present evidence from a repeated survey on risky asset holdings carried out on a representative sample of the German population six times between April and June 2020. Given the size of the Covid-19 shock, we find little evidence of portfolio rebalancing in April 2020. In May, however, individual investors started buying heavily, fueling market recovery. The cross-section shows large differences ...

2021| Lukas Menkhoff, Carsten Schröder
Diskussionspapiere 1961 / 2021

Economic Effects of the COVID-19 Pandemic on Entrepreneurship and Small Businesses

The existential threat to small businesses, based on their crucial role in the economy, is behind the plethora of scholarly studies in 2020, the first year of the COVID-19 pandemic. Examining the 14 contributions of the special issue on the “Economic Effects of the COVID-19 Pandemic on Entrepreneurship and Small Businesses,” the paper comprises four parts: a systematic review of the literature on the ...

2021| Maksim Belitski, Christina Guenther, Alexander S. Kritikos, Roy Thurik
Diskussionspapiere 1960 / 2021

The Productivity Puzzle in Business Services

In Germany, the productivity of professional services, a sector dominated by micro and small firms, declined by 40 percent between 1995 and 2014. This productivity decline also holds true for professional services in other European countries. Using a German firm-level dataset of 700,000 observations between 2003 and 2017, we analyze this largely uncovered phenomenon among professional services, the ...

2021| Alexander S. Kritikos , Alexander Schiersch, Caroline Stiel
Diskussionspapiere 1959 / 2021

What Drives Saudi Airstrikes in Yemen? An Empirical Analysis of the Dynamics of Coalition Airstrikes, Houthi Attacks, and the Oil Market

Since 2015, Saudi Arabia has led a foreign military intervention against the Houthi movement, which took over major parts of Yemen. The intervention, which manifests mainly in airstrikes, has attracted widespread controversy in media and politics as well as a large body of (qualitative) academic literature discussing its background and ways to escape it. Complementary to these efforts and connecting ...

2021| Dawud Ansari, Mariza Montes de Oca Leon, Helen Schlüter
Diskussionspapiere 1958 / 2021

Physician Effects in Antibiotic Prescribing: Evidence from Physician Exits

Human antibiotic consumption is considered the main driver of antibiotic resistance. Reducing human antibiotic consumption without compromising health care quality poses one of the most important global health policy challenges. A crucial condition for designing effective policies is to identify who drives antibiotic treatment decisions, physicians or patient demand. We measure the causal effect of ...

2021| Shan Huang, Hannes Ullrich
Diskussionspapiere 1957 / 2021

Culture, Children and Couple Gender Inequality

This paper examines how culture impacts within-couple gender inequality. Exploiting the setting of Germany's division and reunification, I compare child penalties of couples socialised in a more gender-egalitarian culture (East Germany) to those in a gender-traditional culture (West Germany). Using a household panel, I show that the long-run child penalty on the female income share is 26.9 percentage ...

2021| Jonas Jessen
Diskussionspapiere 1956 / 2021

The Multifaceted Impact of US Trade Policy on Financial Markets

We study the multifaceted effects and persistence of trade policy shocks on financial markets in a structural vector autoregression. The model is identified via event day heteroskedasticity. We find that restrictive US trade policy shocks affect US and international stock prices heterogeneously, but generally negatively, increasing market uncertainty, lowering interest rates, and leading to an appreciation ...

2021| Lukas Boer, Lukas Menkhoff, Malte Rieth
Diskussionspapiere 1955 / 2021

The Effect of Changing Marginal-Cost to Physical-Order Dispatch in the Power Sector

The analysis of local environmental policies is essential when evaluating the consistency of national public policies vis-à-vis the compliance of global agreements to reduce climate change. This study explores one of these policies; the 2021 Mexican reform to change electric power dispatch from a marginal-cost-based to a command and control physical system prioritizing power generation from the state ...

2021| Raúl Gutiérrez-Meave, Juan Rosellón, Luis Sarmiento
Diskussionspapiere 1954 / 2021

Disentangling Covid-19, Economic Mobility, and Containment Policy Shocks

We study the dynamic impact of Covid-19, economic mobility, and containment policy shocks. We use Bayesian panel structural vector autoregressions with daily data for 44 countries, identified through sign and zero restrictions. Incidence and mobility shocks raise cases and deaths significantly for two months. Restrictive policy shocks lower mobility immediately, cases after one week, and deaths after ...

2021| Annika Camehl, Malte Rieth
Diskussionspapiere 1953 / 2021

Unconventional Fiscal Policy in HANK

In HANK, we show that fiscal policy is an appropriate macroeconomic stabilization tool at the ZLB. Fiscal policy achieves the same macroeconomic aggregates and the same welfare as hypothetically unconstrained monetary policy by replicating its transmission mechanism. Consumption taxes and labor taxes replicate the effects of monetary policy through the intertemporal substitution channel. Debt-financed ...

2021| Hannah Seidl, Fabian Seyrich
Diskussionspapiere 1952 / 2021

Optimism Gone Bad? The Persistent Effects of Traumatic Experiences on Investment Decisions

Do memories of highly emotional stock market crashes permanently affect the investment decisions of households? The Initial Public Offerings of Deutsche Telekom during 1996- 2000 provide an optimal base to address this question, as it is known for its emotional character and is reputedly “the last time Germans invested in stocks.” Using Socio-Economic Panel (SOEP) household survey data, I show that ...

2021| Chi Hyun Kim
Diskussionspapiere 1951 / 2021

Cracking under Pressure? Gender Role Attitudes toward Maternal Employment in Times of a Pandemic

This paper studies the effects of Covid-19 related daycare and school closures on gender role attitudes toward maternal employment in Germany. We compare women and men with dependent children to those without children one year after the outbreak of the pandemic. Using data on gender role attitudes from 2008 through 2021, we find that fathers’ egalitarian attitudes toward maternal employment dropped ...

2021| Natalia Danzer, Mathias Huebener, Astrid Pape, C. Katharina Spieß, Nico A. Siegel, Gert G. Wagner
Diskussionspapiere 1950 / 2021

The Effect of Self-Control and Financial Literacy on Impulse Borrowing: Experimental Evidence

This paper examines the effect of reduced self-control on impulsive borrowing in a laboratory experiment. We manipulate self-control using an ego depletion task and show that it is effective. Following the ego depletion task, participants can anonymously buy hot drinks on credit. We find no significant average effects, but find that treated individuals that have low financial literacy are more likely ...

2021| Antonia Grohmann, Jana Hamdan
Diskussionspapiere 1949 / 2021

Comparison of Local Projection Estimators for Proxy Vector Autoregressions

Different local projection (LP) estimators for structural impulse responses of proxy vector autoregressions are reviewed and compared algebraically and with respect to their small sample suitability for inference. Conditions for numerical equivalence and similarities of some estimators are provided. A new LP type estimator is also proposed which is very easy to compute. Two generalized least squares ...

2021| Martin Bruns, Helmut Lütkepohl
Diskussionspapiere 1948 / 2021

Climate Neutral Production, Free Allocation of Allowances under Emissions Trading Systems, and the WTO: How to Secure Compatibility with the ASCM

To reach climate neutrality, carbon emissions from the production of basic materials need to be significantly reduced. For governments’ support measures to be consistent with their World Trade Organization obligations, they need to be compatible with the WTO’s Agreement on Subsidies and Countervailing Measures (ASCM). This paper analyzes the ASCM consistency of three selected support schemes, namely: ...

2021| Roland Ismer, Harro van Asselt, Jennifer Haverkamp, Michael Mehling, Karsten Neuhoff, Alice Pirlot
Diskussionspapiere 1947 / 2021

Effectiveness, Spillovers, and Well-Being Effects of Driving Restriction Policies

We study the effectiveness, spillovers, and well-being effects of low emission zones in Germany, an emission-intensity-based driving restriction rapidly growing in popularity. Using regression discontinuity and group-time difference-in-differences designs, we show that previous estimates of the policy’s impact on traffic-related air pollution significantly underestimate its effectiveness. We provide ...

2021| Luis Sarmiento, Nicole Wägner, Aleksandar Zaklan
Diskussionspapiere 1946 / 2021

The Impact of Selection into the Labor Force on the Gender Wage Gap

We study the impact of selection bias on estimates of the gender pay gap, focusing on whether the gender pay gap has fallen since 1981. Previous research has found divergent results across techniques, identification strategies, data sets, and time periods. Using Michigan Panel Study of Income Dynamics data and a number of different identification strategies, we find robust evidence that, after controlling ...

2021| Francine D. Blau, Lawrence M. Kahn, Nikolai Boboshko, Matthew Comey
1988 results, from 21
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