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Refereed essays Web of Science
China's government has been promoting the shift toward a consumption-based economy in the past few years to arrive at a path of sustainable and socially inclusive growth. In this context, the explicit goal to significantly raise the percentage ofwages in the national household income was an integral part of the 12th Five-Year Plan (2011–15). These changes in economic strategy are likely to affect the ...
In:
Asian Economic Papers
17 (2018) 2, S. 94-107
| Julian Donaubauer, Christian Dreger
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Refereed essays Web of Science
Revenue cap regulation is often combined with systematic benchmarking to reveal the managerial inefficiencies when regulating natural monopolies. One example is the European energy sector, where benchmarking is based on actual cost data, which are influenced by managerial inefficiency as well as operational heterogeneity. This paper demonstrates how a conditional nonparametric method, which allows ...
In:
European Journal of Operational Research
265 (2018), 2, S. 710-722
| Endre Bjoerndal, Mette Björndal, Astrid Cullmann, Maria Nieswand
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Refereed essays Web of Science
The behavioral sciences, including most of psychology, seek to explain and predict behavior with the help of theories and models that involve concepts (e.g., attitudes) that are subsequently translated into measures. Currently, some subdisciplines such as social psychology focus almost exclusively on measures that demand reflection or even introspection when administered to persons. We argue that such ...
In:
PloS one
13 (2018), 2, e0192907
| Siegmar Otto, Ulf Kröhne, David Richter
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Refereed essays Web of Science
A time-varying parameters Bayesian structural vector autoregression (TVP-BVAR) model with stochastic volatility is employed to characterize the monetary policy stance of the Bank of Canada (BoC) in terms of an interest rate rule linking the policy rate to the output gap, inflation and the exchange rate. Using quarterly bilateral Canadian–US data, we find such an interest rate rule to have little explanatory ...
In:
Empirical Economics
55 (2018), 2, S. 471-494
| T. Philipp Dybowski, Max Hanisch, Bernd Kempa
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Refereed essays Web of Science
There is evidence that estimates of long-run impulse responses of structural vector autoregressive (VAR) models based on long-run identifying restrictions may not be very accurate. This finding suggests that using short-run identifying restrictions may be preferable. We compare structural VAR impulse response estimates based on long-run and short-run identifying restrictions and find that long-run ...
In:
AStA Advances in Statistical Analysis
102 (2018), 2, S. 229-244
| Helmut Lütkepohl, Anna Staszewska-Bystrova, Peter Winker
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Refereed essays Web of Science
Psychology offers conceptual and analytic tools that can advance the discussion on the nature of risk preference and its measurement in the behavioral sciences. We discuss the revealed and stated preference measurement traditions, which have coexisted in both psychology and economics in the study of risk preferences, and explore issues of temporal stability, convergent validity, and predictive validity ...
In:
Journal of Economic Perspectives
32 (2018), 2, S. 155-172
| Rui Mata, Renato Frey, David Richter, Jürgen Schupp, Ralph Hertwig
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Refereed essays Web of Science
Identification schemes are of essential importance in structural analysis. This paper focuseson testing a commonly used long-run structural parameter identification scheme claiming to identifyfundamental and non-fundamental shocks to stock prices. Five related widely used structural modelson assessing stock price determinants are considered. All models are either specified in vector errorcorrection ...
In:
Quantitative Finance and Economics
2 (2018), 1, S. 106-126
| Anton Velinov
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Refereed essays Web of Science
We investigate the hypothesis of failed integration and low social mobility of immigrants. An intergenerational assimilation model is tested empirically on household survey data and validated against registry data provided by the Italian Embassy in Germany. Although we confirm substantial disparities between educational achievements of immigrants and natives, we find that the children of Italian immigrants ...
In:
German Economic Review
19 (2018), 1, S. 1-31
| Timm Bönke, Guido Neidhöfer
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Refereed essays Web of Science
In this paper, I study how occupational segregation affects the allocation of talent in a competitive labour market. I propose a model of occupational choice in which heterogeneous workers must rely on their social contacts to acquire job‐vacancy information. While occupational segregation implies benefits in terms of job‐finding probability, it also leads to allocative inefficiencies. Efficient and ...
In:
The Scandinavian Journal of Economics
120 (2018), 1, S. 242-267
| David Pothier
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Refereed essays Web of Science
This article investigates the impact of indemnity payments from index insurance on the asset recovery of households following a catastrophic weather disaster. Our focus is on the Index-Based Livestock Insurance (IBLI) in Mongolia. We analyze the effect of IBLI indemnity payments after a once-in-50-year winter disaster struck Mongolia over the 2009/10 winter. The analysis is based on three waves of ...
In:
American Journal of Agricultural Economics
100 (2018), 1, S. 145-171
| Veronika Bertram-Hümmer, Kati Krähnert