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ECB asset purchase programs raise inflation expectations in the Euro area

Facing deflationary threats, the ECB has engaged in several forms of asset purchase programs to fulfill its mandate of maintaining price stability. A main objective of these programs is raising inflation expectations, as these are a main determinant of actual inflation. This study empirically evaluates the effectiveness of these ECB policies in raisinginflation expectations. The results suggest that ...

Estimating Risky Behavior with Multiple-Item Risk Measures

We compare seven established risk elicitation methods and investigate how they robustly explain eleven kinds of risky behavior with 760 individuals. Risk measures are positively correlated; however, their performance in explaining behavior is heterogeneous and, therefore, difficult to assess ex ante. To close this knowledge gap, greater diversification across risk measures is helpful. We do, indeed, ...

Women's Likelihood of Holding a Senior Management Position Is Considerably Lower than Men's - Especially in the Financial Sector

Women remain grossly underrepresented in management positions in Germany. However, what has been dubbed the gender leadership gap, i.e., the difference between the share of all employees who are women and the share of women in senior management positions, varies considerably across different industries. The present report shows that the largest gender gap in the likelihood of holding a senior management ...

Better Career Opportunities for Women Will Help Lower the Gender Pay Gap: Nine Questions to Elke Holst

"Better career opportunities for women will help lower the gender pay gap": nine questions to Elke Holst

For years now, the share of women in management positions in Germany has been considerably lower than that of men. Has the likelihood of women occupying a management position improved at all? During the observation period —from 2001 to 2014— women’s chances did not improve compared to the base year, at least not statistically significantly. With the exception of the last two years, ...

Do Media Data Help to Predict German Industrial Production?

In an uncertain world, decisions by market participants are based on expectations. Therefore, sentiment indicators reflecting expectations have a proven track record at predicting economic variables. However, survey respondents largely perceive the world through media reports. Here, we want to make use of that. We employ a rich dataset provided by Media Tenor International, based on sentiment analysis ...

The Influence of Personality Traits on Private Retirement Savings in Germany

This paper analyzes private retirement savings, the amount for German individuals and how these savings are influenced by personality traits. With the 2002 to 2009 cross section of the Socio-Economic Panel for Germany (SOEP), it is investigated how the Big-Five and the Locus of Control influence the decision to have private retirement savings, and the estimated amount of these savings. Results indicate ...

1st Workshop on Policy Design for a Climate-Friendly Materials Sector

Materials are central to our economies – but their production also dominates industrial greenhouse gas emissions. It is therefore not possible for Europe to reach an 80-95% emission reduction target without significant emission reductions from the materials sector. While some production efficiency improvements and fuel shifting to lower carbon inputs have been achieved in sectors such as...

Recent Developments in Panel Data Econometrics

Econometric Analysis of Stated Preferences