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Determinants of Risk Aversion over Time: Experimental Evidence from Rural Thailand

We use a repeated incentivized risk experiment in rural Thailand to test determinants of changes in the level of individual risk aversion over time. We find that risk aversion significantly changes between 2008 and 2013 as a result of macro- andmicro-level shocks. Strong macroeconomic recovery following the 2007/08 financial crisis makes people more risk-seeking, whereas macroeconomic normalization ...

Aufschwung bleibt moderat - Wirtschaftspolitik wenig wachstumsorientiert

Die deutsche Wirtschaft befindet sich in einem moderaten Aufschwung. Zu diesem Ergebnis kommt die Mitte April veröffentlichte Gemeinschaftsdiagnose der Wirtschaftsforschungsinstitute. Das Bruttoinlandsprodukt dürfte demnach in diesem Jahr um 1,6% und im kommenden Jahr um 1,5% zulegen. Getragen wird der Aufschwung vom privaten Konsum, der vom anhaltenden Beschäftigungsaufbau, den spürbaren Steigerungen ...

Bubble Thy Neighbour: Portfolio Effects and Externalities from Capital Controls

We use changes in Brazil's tax on capital inflows from 2006 to 2013 to test for direct portfolio effects and externalities from capital controls on investor portfolios. We find that an increase in Brazil's tax on foreign investment in bonds causes fund managers to significantly decrease their portfolio allocations to Brazil in both bonds and equities. Fund managers simultaneously increase allocations ...

Competitive Devaluations in Commodity-Based Economies: Colombia and the Pacific Alliance Group

This paper investigates whether there is an S-Curve in Colombia using bilateral and disaggregated quarterly data for the period 1991-2014. More precisely, the short-run effects of a depreciation on the TB are analysed in 27 industries covered by the PAG Free Trade Agreement. The S-Curve found in sectors representing 30% of total industrial production suggests that in these cases competitive devaluations ...

The Performance of Banks in the MENA Region during the Global Financial Crisis

This paper examines the impact of the global financial crisis on the banking sector in the Middle East and North Africa (MENA) region, as well as the main determinants of the profitability of both domestic and foreign banks. The empirical findings suggest that during the crisis the former outperformed the latter in that region. As for the determinants of profitability, size does not appear to play ...

80 percent of German public in favor of admitting war refugees into Germany

The SOEP’s Barometer of Public Opinion on Refugees in Germany examines the population’s attitudes, expectations, and fears—most respondents supported the rights of refugees to remain in the country in accordance with EU law and the 1951 Refugee Convention—but the majority are in favor of refugees returning if the situation improves in their country of origin The majority of ...

The Greek Crisis: Εxit Roadmap

German Public Opinion on Admitting Refugees

Since the beginning of 2016, the Socio-Economic Panel (SOEP) study has been conducting a monthly survey of German attitudes, expectations, and fears concerning migration. The third wave of the survey,—the Barometer of Public Opinion on Refugees in Germany (Stimmungsbarometer zu Geflüchteten in Deutschland)—, conductedin March 2016, shows that more than half of all respondents still associate the influx ...

Majority of German Public Back UN Refugee Convention: Six Questions to Jürgen Schupp

Design and Pitfalls of Basel’s New Liquidity Rules

Following the financial crisis of 2008/09, the Basel Committee on Banking Supervision introduced a new framework for banking regulation, commonly known as Basel III. For the first time since the inception of global banking regulation in 1988, Basel III contains explicit mandatory rules for liquidity regulation. The cornerstones of the new liquidity regulation are two balance sheet ratios that seek ...