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Acquiring R&D Projects: Who, When, and What? Evidence from Antidiabetic Drug Development

This paper analyzes M&A patterns of R&D projects in the antidiabetics industry. For this purpose, we construct a database with all corporate individual antidiabetics R&D projects over the period 1997 - 2017, and add detailed information on firms’ technology dimension using patent information, next to their position in product markets. This allows us to identify the identity of targets and acquirers ...

Change in Personal Culture over the Life Course

Prior literature finds stability in personal culture, such as attitudes and values, in individuals’ life courses using short-running panel data. This work has concluded that lasting change in personal culture is rare after formative early years. This conclusion conflicts with a growing body of evidence for changes in personal culture after significant life course transitions, drawing on long-running ...

200 Years of Sovereign Debt Crises: Serial Restructurings May Be Accompanied by Higher Creditor Losses

Many sovereign defaults have occurred worldwide over the past 200 years. An analysis of 321 sovereign debt restructurings since 1815 shows that foreign private and institutional investor losses were 43 percent on average. Notably, beginning in the 1970s, several debt exchanges have increasingly been required to resolve a default. To understand this new phenomenon better, this Weekly Report looks at ...

Sexual Jokes and Conversations at the Workplace and Their Relation to Employee Well-Being: Results from a Longitudinal Study

Ambient social sexual behaviour at work refers to sexual jokes and conversations at the workplace. Prior cross-sectional studies indicate that this behaviour is relatively widespread and tends to be associated with negative well-being. We revisit this research by investigating the outcomes of sexual jokes and conversations at work after 1 year in a comparatively large employee sample. The perceived ...

Best Conference Paper Award 2024 for Robin Sogalla

Robin Sogalla, Ph.D. Student of the Firms and Markets Department, received the Best Conference Paper Award 2024 at the 16th FIW Research Conference 'International Economics' in Vienna for his paper "Unilateral Climate Policy and Heterogeneous Firms". The award is worth 1,000 euros. Congratulations!

Heteroskedastic Proxy Vector Autoregressions: An Identification-Robust Test for Time-Varying Impulse Responses in the Presence of Multiple Proxies

We propose a test for time-varying impulse responses in heteroskedastic structural vector autoregressions that can be used when the shocks are identified by external proxy variables as a group but not necessarily individually. The test is robust to the identification scheme for identifying the shocks individually and can be used even if the shocks are not identified individually. The asymptotic analysis ...

Inequality and Its Drivers in Germany, 1840-1914

Alexander Roth has successfully defended his dissertation

Alexander Roth, who works at the Energy, Transportation, Environment department, has successfully defended his dissertation at Technische Universität Berlin. The dissertation with the title "Five essays in energy economics - Numerical and empirical perspectives on the decarbonization of the energy sector" was supervised by Prof. Dr. Christian von Hirschhausen. We congratulate Alexander on his success ...

Former Team Members Firms and Markets

Former Team Members Firms and Markets Former Team Members (since 2017) Placements of Doctoral Students and Postdocs: Pauline Affeldt , E.CA Economics, Berlin Sofia Amaral-Garcia , Hasselt University Lea Bernhardt , Hamburgisches WeltWirtschaftsInstitut (HWWI) Nuria Boot , PwC Strategy&, Amsterdam Astrid Cullmann , Technische Universität Berlin und Energy, Transportation, ...

Life Events and Life Satisfaction: Estimating Effects of Multiple Life Events in Combined Models

How do life events affect life satisfaction? Previous studies focused on a single event or separate analyses of several events. However, life events are often grouped non-randomly over the lifespan, occur in close succession, and are causally linked, raising the question of how to best analyze them jointly. Here, we used representative German data (SOEP; N = 40,121 individuals; n = 41,402 event occurrences) ...