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Assessing Identifying Restrictions in SVAR Models

This paper proposes a Bayesian approach to assess if the data support candidate set-identifying restrictions for Vector Autoregressive models. The researcher is uncertain about the validity of some sign restrictions that she is contemplating to use. She therefore expresses her uncertainty with a prior distribution that covers the parameter space both where the restrictions are satisfied and where they ...

Innovation Capabilities and Financing Constraints of Family Firms

Using the 2007 Mannheim innovation survey, we investigate whether family firms are more financially constrained than other firms and how this affects both innovation input as well as innovation outcomes such as market and firm novelties or process innovations. Based on the CDM framework, estimation of the recursive system of equations shows that family businesses are more likely to be constrained and ...

The Eurosystem's Agreement on Net Financial Assets (ANFA): Covert Monetary Financing or Legitimate Portfolio Management?

As well as implementing the common monetary policy, the national central banks (NCBs) which, together with the European Central Bank (ECB) form the Eurosystem, are also responsible for performing a range of national tasks. Among other things, these include the management of their financial assets portfolios. To ensure that this function does not interfere with the implementation of the single monetary ...

National Central Banks Should Become More Transparent: Seven Questions to Philipp König

Does Financial Education Impact Financial Literacy and Financial Behavior, and if So, When?

In a meta-analysis of 126 impact evaluation studies, we find that financial education significantly impacts financial behavior and, to an even larger extent, financial literacy. These results also hold for the subsample of randomized experiments (RCTs). However, intervention impacts are highly heterogeneous: Financial education is less effective for lowincome clients as well as in low and lower-middle ...

Modeling with the Unobserved / Unobservable: An In-depth Analysis of Modeling Issues Concerning the Role of Attitudes and Perceptions in the Decision Making Process ; Dissertation

Hybrid choice models with latent variables aim to capture unobserved attributes of the individuals and the alternatives, such as attitudes, perceptions, etc., increasing the predictive capability and realism of discrete choice models. Even though, their fundaments are fairly well-established, some technical and theoretical issues have not been extensively analyzed, leading to controversies in the literature. ...

Increased Instruction Hours and the Widening Gap in Student Performance

Do increased instruction hours improve the performance of all students? Using PISA scores of students in ninth grade, we analyse the effect of a German education reform that increased weekly instruction hours by two hours (6.5 percent) overalmost five years. In the additional time, students are taught new learning content. On average, the reform improves student performance. However, treatment effects ...

Official Data on German Water Supply: 2004, 2007, 2010

Work Hour Mismatch and Job Mobility: Adjustment Channels and Resolution Rates

This paper analyses the role of job changes in overcoming work hour constraints and the work hour mismatches resulting from these constraints (i.e., differences between actual and desired work hours). Building on previous findings that job change increases the flexibility of actual work hours, the study addresses two as yet neglected questions in the context: (i) How do changes in desired work hours, ...

Factors Influencing Female Labor Force Participation in Egypt and Germany: A Comparative Study

This paper aims to identify the major factors influencing female labor force participation (FLFP) in Egypt and Germany. On a narrow scope and given the unclear relationship between educational attainment and Egyptian FLFP, this paper seeksto examine the effect of educational attainment on the Egyptian FLFP while considering other personal and household factors. On a broader scope, the literature on ...