BAMS is a joint seminar by the DIW Berlin, the Hertie School of Governance, the HU Berlin and the WZB.
Abstract: Social networks are an important channel of information transmission in the labor market. This paper studies the mechanisms by which social networks have an impact on labor market outcomes of displaced workers. We base our analysis on administrative records for the universe of private sector employment in Austria where we define work-related networks formed by past coworkers.
This paper examines short-term price reactions after one-day abnormal price changes and whether they create exploitable profit opportunities in various financial markets. A t-test confirms the presence of overreactions and also suggests that there is an “inertia anomaly”, i.e. after an overreaction day prices tend to move in the same direction for some time. A trading robot approach is then used to ...
by Ferdinand Fichtner, Marcel Fratzscher, Maximilian Podstawski, Dirk Ulbricht in: DIW Economic Bulletin 9/2014 The crisis in the European currency area is not yet over. Although the situation in the financial markets is currently relatively calm, the economic crisis appears to be bottoming out in most countries. Nevertheless, there are still fundamental design flaws in the Monetary Union. If ...
Stabilizing the European Monetary Union: High Time for More Reforms! Seven Questions to Ferdinand Fichtner
by Gerhard Illing and Philipp König in: Economic Bulletin 9/2014 In the wake of the recent European debt crisis, the European Central Bank (ECB) has grown significantly in importance. As the crisis worsened, the ECB needed to take measures that went far beyond standard monetary policy operations - particularly with respect to its function as lender of last resort. It provided the banking sector ...
by Franziska Bremus and Claudia Lambert in: Economic Bulletin 9/2014 Despite the most recent period of calm on the financial markets, the long-term resilience of the European financial system is not yet assured, even several years after the financial crisis began. However, the stability of the financial system playsa crucial role for real economic development and consequently for growth and prosperity. ...
by Marcel Fratzscher, Christoph Große Steffen, Malte Rieth in: Economic Bulletin 9/2014 Greece is standing at a crossroads. The need for a third rescue package has now become a critical issue. The Greek government is calling for another de facto-public debt restructuring. An alternative option presented here would be to convert existing GLF loans into GDP-linked loans. Interest payments ...
