Dr. König, the Agreement on Net Financial Assets (ANFA) was drawn up to prevent conflict between the NCBs and the European Central Bank (ECB) over monetary policy. What exactly is the background to this agreement? ANFA limits the national central banks’ purchases of financial assets and securities in order to ensure effective implementation of the single monetary policy in the euro area. [...] The ...
Estimating nonlinear effects of continuous covariates by penalized splines is well established for regressions with cross-sectional data as well as for panel data regressions with random effects. Penalized splines are particularly advantageous since they enable both the estimation of unknown nonlinear covariate effects and inferential statements about these effects. The latter are based, for example, ...
This paper proposes a new non-parametric 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 ...
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 ...
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 ...
To begin the process of appointing the next generation of leadership for the SOEP, a job advertisement for the position of Director of the SOEP has been published. The new SOEP Director should, if possible, begin on October 1, 2017.
To describe the SOEP-LEE data, which are available in the DSZ-BO Bielefeld, we provide the following documents: Erhebungsinstrumente und Datenkodierung der Betriebsbefragung des Sozio-oekonomischen Panels, SOEP Survey Papers 304 Methodenbericht der Betriebsbefragung des Sozio-oekonomischen Panels, SOEP Survey Papers 305 Datenhandbuch der Betriebsbefragung des Sozio-oekonomischen ...
Data from the first wave of the study PIAAC-L have been released on March 31st 2016. PIAAC-L is a joint project of the Leibniz Institute for the Social Sciences (GESIS), the Socio-Economic Panel (SOEP) at DIW Berlin, and the Leibniz Institute for Educational Trajectories (LIfBi). In 2014, around 4,000 people in Germany between the ages of 18 and 67 who had previously taken part in PIAAC 2012 (Programme ...
