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DIW Discussion Papers 1288 / 2013
This paper examines the PPP hypothesis analysing the behaviour of the real exchange rates vis-à-vis the US dollar for four major currencies (namely, the Canadian dollar, the euro, the Japanese yen and the British pound). An innovative approach based on fractional integration in a multivariate context is applied to annual data from 1970 to 2011. Long memory is found to characterise the Canadian dollar, ...
2013| Guglielmo Maria Caporale, Luis A. Gil-Alana, Yuliya Lovcha
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SOEPpapers 546 / 2013
The article analyzes the question of whether career politicians differ systematically from the general population in terms of their attitudes toward risk. A written survey of members of the 17th German Bundestag in late 2011 identified their risk attitudes, and the survey data was set in relation to respondents to the German Socio-Economic Panel Study (SOEP) for the survey year 2009 (2002 through 2012). ...
2013| Moritz Heß, Christian von Scheve, Jürgen Schupp, Gert G. Wagner
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SOEP Brown Bag Seminar
Research on education and fertility has been enriched by studies that take the educational field into account next to the educational level. But what causes the association between educational fields and fertility? This paper contributes to the existing literature by examining how characteristics of educational fields are related to the transition to parenthood and the timing of the first birth...
10.04.2013| Anja Oppermann (Universität Köln)
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SOEPpapers 547 / 2013
We perform a comparative analysis of five incentivized tasks used to elicit risk preferences. Theoretically, we compare the elicitation methods in terms of completeness of the range of the estimates as well as their precision, the likelihood of triggering loss aversion, and problems arising when multiple choices are required. Using original data from a homogeneous population, we experimentally investigate ...
2013| Paolo Crosetto, Antonio Filippin
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SOEPpapers 548 / 2013
A rise in population caused by increased immigration, is sometimes accompanied by concerns that the increase in population puts additional or differential pressure on welfare services which might affect the net fiscal contribution of immigrants. The UK and Germany have experienced significant increases in immigration in recent years. This study uses longitudinal data from both countries to examine ...
2013| Jonathan Wadsworth
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Research Project
Previous to the 2014 revision of the Renewable Energy Act (Erneuerbare Energien Gesetz, EEG) this study added to the discussion around cost reliefs for many industrial enterprises. These reliefs were criticized for increasing electricity costs for non-privileged consumers, without any assessment whether privileged firms were actually exposed to international competition. The study develops...
Completed Project| Climate Policy
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DIW Discussion Papers 1286 / 2013
We use noncausal autoregressions to examine the persistence properties of quarterly U.S. consumer price inflation from 1970:1.2012:2. These nonlinear models capture the autocorrelation structure of the inflation series as accurately as their conventional causal counterparts, but they allow for persistence to depend on the size and sign of shocks to inflation as well as the inflation rate. Inflation ...
2013| Markku Lanne
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DIW Discussion Papers 1284 / 2013
We investigate long-term trends in the intergenerational transmission of education in a low income country undergoing a transition from socialism to a market economy. We draw on evidence from Kyrgyzstan using data from three household surveys collected in 1993, 1998 and 2011. We find that Kyrgyzstan, like Eastern European middle income transition economies, generally maintained high educational mobility, ...
2013| Tilman Brück, Damir Esenaliev
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DIW Discussion Papers 1283 / 2013
Nonparametric efficiency analysis has become a widely applied technique to support industrial benchmarking as well as a variety of incentive- based regulation policies. In practice such exercises are often plagued by incomplete knowledge about the correct specifications of inputs and outputs. Simar and Wilson (2001) and Schubert and Simar (2011) propose restriction tests to support such specification ...
2013| Anne Neumann, Maria Nieswand, Torben Schubert
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DIW Discussion Papers 1282 / 2013
The GARCH(1,1) model and its extensions have become a standard econometric tool for modeling volatility dynamics of financial returns and port-folio risk. In this paper, we propose an adjustment of GARCH implied conditional value-at-risk and expected shortfall forecasts that exploits the predictive content of uncorrelated, yet dependent model innovations. The adjustment is motivated by non-Gaussian ...
2013| Benjamin Beckers, Helmut Herwartz, Moritz Seidel