-
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
-
Refereed essays Web of Science
The wage curve introduced by Blanchflower and Oswald (1990, 1994b) postulates a negative correlation between wages and unemployment. Empirical studies use different channels for a theoretical underpinning the relationship. Panel data models mostly draw on bargaining power or the efficiency wage hypothesis. Spatial econometric approaches can be rationalized by monopsonistic competition. However, the ...
In:
Review of Regional Research
38 (2018), 1, S. 53-75
| Reinhold Kosfeld, Christian Dreger
-
Refereed essays Web of Science
This paper investigates how the withdrawal of banks from their cross-border business impacted the borrowing costs of European firms since the crisis. We combine aggregate information on total and cross-border credit with firm-level survey data for the period 2010 - 2014. We find that the decline in cross-border lending led to a deterioration in the borrowingconditions of small firms. In countries with ...
In:
Journal of International Money and Finance
80 (2018), S. 35-58
| Franziska Bremus, Katja Neugebauer
-
Refereed essays Web of Science
Using a laboratory experiment, we present first evidence that social image concerns causally reduce the take-up of an individually beneficial transfer. Our design manipulates the informativeness of the take-up decision by varying whether transfer eligibility is based on ability or luck, and how the transfer is financed. We find that subjects avoid the inference both of being low-skilled (ability stigma) ...
In:
Journal of Public Economics
168 (2018), S. 174-192
| Jana Friedrichsen, Tobias König, Renke Schmacker
-
Refereed essays Web of Science
We analyze the welfare effects of the Transatlantic Trade and Investment Partnership (TTIP) between the United States (US) and the European Union (EU). Earlier TTIP studies analyze welfare effects in a framework where output and welfare coincide. We believe that the utility function of households, which depends on consumption and employment, is the best criterion for assessing TTIP. We measure the ...
In:
Economic Modelling
70 (2018), S. 230-238
| Philipp Engler, Juha Tervala
-
Refereed essays Web of Science
The paper estimates the dynamic impact of structural oil market shocks on the balance sheet of US firms, using industry level data covering manufacturing, trade and mining sectors. For manufacturing firms, findings indicate that an unexpected disruption in oil supply that raises oil prices by 1% lowers firm profits by 1.3% on impact. On the other hand, profits rise by 0.39% in response to the same ...
In:
Journal of Banking & Finance
95 (2018), S. 112-127
| Khalid ElFayoumi
-
Refereed essays Web of Science
This study analyses how liquidity risk affects bonds’ yield spreads after controlling for credit risk, bond-specific characteristics and macroeconomic variables. Using two liquidity estimates, LOT liquidity and the bid-ask spread, we find that, in particular, the LOT liquidity measure has explanatory power for the yield spread of green bonds. Overall, however, the impact of LOT decreases over time, ...
In:
Finance Research Letters
27 (2018), S. 53-59
| Febi Wulandari, Dorothea Schäfer, Andreas Stephan, Chen Sun
-
Refereed essays Web of Science
We analyze fiscal devaluation in a three-country model. The introduction of the third country, outside a monetary union, increases the expansionary effect of fiscal devaluation and the second country of the monetary union experiences a boom instead of a recession.
In:
Economics Letters
163 (2018), S. 13-16
| Philipp Engler, Sandra Pasch, Juha Tervala
-
Refereed essays Web of Science
In this article, we examine whether the local indicators are able to predict the city-level housing prices and rents better than national indicators. For this purpose, we assess the forecasting ability of 126 indicators and 21 types of forecast combinations using a sample of 71 large German cities. There are several predictors that are especially useful, namely price-to-rent ratios, national-level ...
In:
Applied Economics
49 (2017), 42, S. 4271-4297
| Konstantin A. Kholodilin, Boriss Siliverstovs
-
Refereed essays Web of Science
This article analyses the determinants of Chinese foreign direct investment (FDI) activities in the European Union (EU). Evidence is based on panel Poisson models drawing on two investment monitors at the individual project level. Greenfield investments (GI) and mergers and acquisitions (M&A) are distinguished. The findings indicate that market size and bilateral trade are the main factors for Chinese ...
In:
Applied Economics
49 (2017), 42, S. 4231-4240
| Christian Dreger, Yun Schüler-Zhou, Margot Schüller