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Refereed essays Web of Science
The international transmission of knowledge through import spillovers, as a source of Total Factor Productivity (TFP) growth, has received much attention in the literature. We investigate two additional direct channels through which R&D disseminates: the import of high-technology goods and the internationalization of business R&D. Building on an extensive data-set, covering both developing and industrial ...
In:
The Journal of International Trade & Economic Development
25 (2016), 4, S. 590-613
| Heike Belitz, Florian Mölders
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Refereed essays Web of Science
While breastfeeding is associated with health benefits for both mothers and children, it may also make it difficult for mothers to return to the labor market early. Maternity and parental leave regulations have been developed to mitigate this conflict. In 2007, Germany passed a reform introducing a new parental leave benefit (Elterngeld). In this paper, we address the question of whether the new parental ...
In:
Review of Economics of the Household
14 (2016), 4, S. 859-890
| Anita Kottwitz, Anja Oppermann, C. Katharina Spieß
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Refereed essays Web of Science
Motivated by contradictory evidence on intergenerational mobility in Germany, I present a cross-country comparison of Germany and the U.S., reassessing the question of whether intergenerational mobility is higher in Germany than in the U.S. I can reproduce the standard result from the literature, which states that the German intergenerational elasticity estimates are lower than those for the U.S. However, ...
In:
The Review of Income and Wealth
62 (2016), 4, S. 650-667
| Daniel D. Schnitzlein
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Refereed essays Web of Science
This study empirically analyses how the use of fixed-term employment affects labour productivity of establishments. To this end, a large data set of German manufacturing establishments and various panel data models are used in order to test the expected non-linear relationship between labour productivity and the use of fixed-term employees. The analysis takes into account the possible distortions that ...
In:
International Labour Review
155 (2016), 4, S. 535-562
| Sebastian Nielen, Alexander Schiersch
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Refereed essays Web of Science
We explore whether noncompetitive pricing prevails in Germany’s retail gasoline market by examining the influence of the crude oil price on the retail gasoline price, focusing specifically on how this influence varies according to the brand and to the degree of competition in the vicinity of the station. Our analysis identifies several factors other than cost—including the absence of nearby competitors ...
In:
Land Economics
92 (2016), 4, S. 718-736
| Alex Kihm, Nolan Ritter, Colin Vance
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Refereed essays Web of Science
We study a constitutional change in the German State of Bavaria where citizens, not politicians, granted themselves more say in politics at the local level through a state initiative election in 1995. This institutional setting allows us to observe revealed preferences for direct democracy and to identify factors which explain these preferences. Empirical evidence suggests that support for direct democracy ...
In:
International Tax and Public Finance
23 (2016), 4, S. 716-740
| Felix Arnold, Ronny Freier, Magdalena Pallauf, David Stadelmann
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Refereed essays Web of Science
We estimate the deterrence effects of European Commission (EC) merger policy instruments over the 1990–2009 period. Our empirical results suggest phase-1 remedies uniquely generate robust deterrence as—unlike phase-1 withdrawals, phase-2 remedies, and preventions—phase-1 remedies lead to fewer merger notifications in subsequent years. Furthermore, the deterrence effects of phase-1 remedies work best ...
In:
Economic Inquiry
54 (2016), 4, S. 1884-1903
| Joseph A. Clougherty, Tomaso Duso, Miyu Lee, Jo Seldeslachts
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Refereed essays Web of Science
We show that technical indicators deliver stable economic value in predicting the US equity premium over the out-of-sample period from 1966 to 2014. The results tentatively improve over time, and beat alternatives over a large continuum of sub-periods. In contrast, economic indicators work well only until the 1970s, but lose predictive power thereafter, even when considering the last crisis. Translating ...
In:
International Journal of Forecasting
32 (2016), 4, S. 1193-1207
| Fabian Baetje, Lukas Menkhoff
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Refereed essays Web of Science
Panel conditioning has posed one of the main challenges to panel studies since their inception in the social sciences. Aside from the risk of reactivity to previous interviews, there is reason to expect that cumulative survey experience increases the reliability of data emanating from panel studies relative to cross-sectional surveys. This positive aspect of recurrent interviewing for data quality ...
In:
The Public Opinion Quarterly
80 (2016), 4, S. 914-942
| Martin Kroh, Florin Winter, Jürgen Schupp
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Refereed essays Web of Science
We develop and estimate a general equilibrium search and matching model that accounts for key business cycle properties of macroeconomic aggregates, including labor market variables. In sharp contrast to leading New Keynesian models, we do not impose wage inertia. Instead we derive wage inertia from our specification of how firms and workers negotiate wages. Our model outperforms a variant of the standard ...
In:
Econometrica
84 (2016), 4, S. 1523-1569
| Lawrence J. Christiano, Martin S. Eichenbaum, Mathias Trabandt