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Refereed essays Web of Science
Motivated by the Bayesian framework, we explore terrorism risk perception differences across European countries. Perception variation is explained by the long-term terrorism countries face, while the cyclical part of terrorism does not seem to play any role.
In:
Economics Letters
112 (2011), 2, S. 195-197
| Konstantinos Drakos, Cathérine Müller
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Refereed essays Web of Science
This paper investigates the effect of ethnicity on time spent on secondary household production, work and leisure activities employing the 2000 UK Time Use Survey. We find that, unconditionally, white females manage to "stretch" their time the most by almost four additional hours per day and non-white men "stretch" their time the least. The three secondary activities most often combined with other ...
In:
Review of Economics of the Household
9 (2011), 2, S. 181-206
| Anzelika Zaiceva, Klaus F. Zimmermann
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Refereed essays Web of Science
Since 1996 regional rail passenger services in Germany have been subject to franchising. The franchising framework is characterised by a strong decentralisation of responsibilities, a considerable degree of freedom for the responsible authorities regarding contract design, a sound financial basis for awarding contracts, and the free choice of authorities between tendering procedures and direct awarding ...
In:
International Journal of Transport Economics
38 (2011), 2, S. 173-200
| Heike Link, Rico Merkert
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Refereed essays Web of Science
We employ covariance structure models to decompose the cross-sectional variance of male wages in Germany into its permanent and transitory parts. We find that the steep growth of cross-sectional inequality during the early 2000s is predominantly driven by transitory factors.
In:
Economics Letters
113 (2011), 2, S. 143-146
| Michal Myck, Richard Ochmann, Salmai Qari
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Refereed essays Web of Science
This paper compares the mixed-data sampling (MIDAS) and mixed-frequency VAR (MF-VAR) approaches to model specification in the presence of mixed-frequency data, e.g. monthly and quarterly series. MIDAS leads to parsimonious models which are based on exponential lag polynomials for the coefficients, whereas MF-VAR does not restrict the dynamics and can therefore suffer from the curse of dimensionality. ...
In:
International Journal of Forecasting
27 (2011), 2, S. 529-542
| Vladimir Kuzin, Massimiliano Marcellino, Christian Schumacher
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Refereed essays Web of Science
Traditional specification testing does not always improve subsequent inference. We demonstrate by means of computer experiments under which circumstances, and how severely, data-driven model selection can destroy the size properties of subsequent parameter tests, if they are used without adjusting for the model-selection step. The investigated models are representative of macroeconometric and microeconometric ...
In:
Empirical Economics
41 (2011), 2, S. 359-372
| Matei Demetrescu, Uwe Hassler, Vladimir Kuzin
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Refereed essays Web of Science
The effects of intergovernmental fiscal arrangements on variation in regional economic growth are analyzed for Russia, a country with large cross-regional differences and considerable fiscal redistribution. Moreover, fiscal reforms implemented in the first half of the 2000s, which to some extent followed scientific advice, make analysis of this case particularly interesting. We observe that postreform ...
In:
Eastern European Economics
49 (2011), 2, S. 5-29
| Lev Freinkman, Konstantin A. Kholodilin,Ulrich Thießen
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Refereed essays Web of Science
This paper estimates for 28 product groups a characteristic parameter that reflects the topological structure of its tradingnetwork. Using these estimates, it describes how the structure of international trade has evolved during the 1980-2000 period. Thereafter, it demonstrates the importance of networks in international trade by explicitlyaccounting for their scaling properties when testing the prediction ...
In:
International Review of Economics and Finance
20 (2011), 2, S. 135-145
| Thushyanthan Baskaran, Florian Blöchl, Tilman Brück, Fabian J. Theis
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Refereed essays Web of Science
This paper examines how delivery tariffs and private quality standards are determined in vertical relations that are subject to asymmetric information. We consider an infinitely repeated game where an upstream firm sells a product to a downstream firm. In each period, the firms negotiate a delivery contract comprising the quality of the good as well as a non-linear tariff. Assuming asymmetric information ...
In:
Journal of Economics
103 (2011), 2, S. 149-169
| Pio Baake, Vanessa von Schlippenbach
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Refereed essays Web of Science
The increased wind energy supplied to many electricity markets around the world has to be balanced by reliably ramping units or other complementary measures when wind conditions are low. At the same time wind energy impacts both, the utilization of thermal power plants and the market prices. While the market prices tend to decrease, the impact on the utilization of different plant types is at the outset ...
In:
Energy Economics
33 (2011), 2, S. 249-256
| Thure Traber, Claudia Kemfert