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Refereed essays Web of Science
The traditional approach to measuring allocative efficiency exploits input prices, which are rarely known at the firm level. This paper proves allocative efficiency can be measured as a profit-oriented distance to the frontier in a profit-technical efficiency space. This new approach does not require information on input prices. To validate the new approach, we perform a Monte-Carlo experiment providing ...
In:
Economic Modelling
25 (2008), 5, S. 1093-1109
| Oleg Badunenko, Michael Fritsch, Andreas Stephan
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Refereed essays Web of Science
We evaluate the interaction of inflation and growth forecast errors based on 17 distinct forecasts for the German economy for the period from 1970 to 2004. The forecasts were produced by 14 institutions. Our findings show that, in general, the forecasters did not share a common belief about the shocks driving the economy at the time at which they made their forecasts. We use a standard textbook aggregate-demand/aggregate-supply ...
In:
Applied Economics Letters
15 (2008), 5, S. 355-358
| Jörg Döpke, Ulrich Fritsche
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Refereed essays Web of Science
Foreign exchange rate expectations play a central role in virtually all monetary models for the open economy. Therefore, it is extremely important to gain empirical insights into the expectations formation process. In this paper, we use a unique disaggregated data set to model the expectations of file Yen/USD exchange rate of about 50 leading foreign exchange rate professionals. The survey includes ...
In:
International Journal of Finance and Economics
13 (2008), 4, S. 360-367
| Christian Dreger, Georg Stadtmann
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Refereed essays Web of Science
In this paper we use the Kumar and Russell [American Economic Review (2002) Vol. 92, pp. 527-548] growth-accounting procedure to examine cross-country growth during the 1990s. Using a data set comprising developed, newly industrialized, developing and transitional economies, we decompose the growth of output per worker into components attributable to technological catch-up, technological change and ...
In:
Oxford Bulletin of Economics and Statistics
70 (2008), 4, S. 461-491
| Oleg Badunenko, Daniel J. Henderson, Valentin Zelenyuk
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Refereed essays Web of Science
Longitudinal data spanning 22 years, obtained from deceased participants of the German Socio-Economic Panel Study (SOEP; N = 1,637; 70- to 100-year-olds), were used to examine if and how life satisfaction exhibits terminal decline at the end of life. Changes in life satisfaction were more strongly associated with distance to death than with distance from birth (chronological age). Multiphase growth ...
In:
Developmental Psychology
44 (2008), 4, S. 1148-1159
| Denis Gerstorf, Nilam Ram, Ryne Estabrook, Jürgen Schupp, Gert G. Wagner, Ulman Lindenberger
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Refereed essays Web of Science
This paper tests the hypothesis that the ongoing restructuring process in the European electricity sector has led to a common European market for electricity. Based on a Principal Component Analysis (PCA) of wholesale electricity prices in 2002-2006, we reject the assumption of full market integration. For several pairs of countries, the weaker hypothesis of (bilateral) convergence is accepted based ...
In:
Energy Economics
30 (2008), 4, S. 1659-1671
| Georg Zachmann
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Refereed essays Web of Science
Using representative micro data from the German Socio-Economic Panel Study (SOEP), this paper delivers new insights into the development of income inequality and regional stratification in Germany after unification. This paper applies a new method for detecting social stratification by a decomposition of the Gini index that yields the obligatory between- and within-group components as well as an 'overlapping' ...
In:
Regional Studies
42 (2008), 4, S. 555-577
| Joachim R. Frick, Jan Goebel
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Refereed essays Web of Science
The Chinese government is building the largest public credit information database on earth. The Credit Registry Center of the People's Bank of China registers more than 600 million consumers of which 110 million have a credit relationship with a financial institution. The Center is a public utility monopoly which collects information from banks and non-bank institutions - a unique approach developed ...
In:
China Economic Review
19 (2008), 4, S. 537-550
| Nicola Jentzsch
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Refereed essays Web of Science
Global Warming Potential (GWP) is an index used to measure the cumulative radiative forcing of a tonne of greenhouse house gas (GHG) relative to that of a "reference" gas (CO2). Under the Kyoto Protocol, GWP can be used as a fixed index to govern the trade-off between different GHGs in a multi-gas approach to GHGs abatement. The use of fixed GWPs has been criticized for not being very cost effective ...
In:
Environmental Modeling and Assessment
13 (2008), 4, S. 503-515
| Truong P. Truong, Claudia Kemfert
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Refereed essays Web of Science
In this paper, the framework of the aggregated Beveridge curve is used to investigate the effectiveness of the job-matching process using German regional labour market data. For a fixed matching technology, the Beveridge curve postulates a negative relationship between the unemployment rate and the rate of vacancies, which is efficiently estimated using spatial econometric techniques. The eigenfunction ...
In:
The Annals of Regional Science
42 (2008), 4, S. 967-986
| Reinhold Kosfeld, Christian Dreger, Hans-Friedrich Eckey