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Refereed essays Web of Science
We model EU countries' bank ratings using financial variables and allowing for intercept and slope heterogeneity. Our aim is to assess whether "old" and "new" EU countries are rated differently and to determine whether "new" ones areassigned lower ratings, ceteris paribus, than "old" ones. We find that country-specific factors (in the form of heterogeneous intercepts) are a crucial determinant of ratings. ...
In:
Review of International Economics
19 (2011), 1, S. 189-206
| Guglielmo Maria Caporale, Roman Matousek, Chris Stewart
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Refereed essays Web of Science
This paper estimates a trivariate VAR-GARCH(1,1)-in-mean model to examine linkages between the stock markets of three Central and Eastern European countries (CEECs), specifically the Czech Republic, Hungary, and Poland, and both the UK and Russia. The adopted framework allows to analyze interdependence by estimating volatility spillovers, and also contagion by testing for possible shifts in the transmission ...
In:
Review of International Economics
19 (2011), 1, S. 158-169
| Guglielmo Maria Caporale, Nicola Spagnolo
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Refereed essays Web of Science
This paper examines the importance of different economic sentiments for the Central and Eastern European countries (CEECs) during the transition process. We first analyze the importance of economic confidence with respect to the CEECs' financial markets. Since the integration of formerly strongly-regulated markets into global markets can also lead to an increase in the dependence of the CEECs' economies ...
In:
Review of International Economics
19 (2011), 1, S. 137-157
| Joscha Beckmann, Ansgar Belke, Michael Kühl
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Refereed essays Web of Science
Electricity transmission has become the pivotal industry segment for electricity restructuring. Yet, little is known about the shape of transmission cost functions. Reasons for this can be a lack of consensus about the definition of transmission output and the complexitity of the relationship between optimal grid expansion and output expansion. Knowledge of transmission cost functions could help firms ...
In:
The Energy Journal
33 (2012), 1, S. 131-160
| Juan Rosellón, Ingo Vogelsang, Hannes Weigt
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Refereed essays Web of Science
In this paper I evaluate the effect of student aid on the success of academic studies. I focus on two dimensions, the duration of study and the probability of actually graduating with a degree. To determine the impact of financial student aid, I estimate a discrete-time duration model allowing for competing risks to account for different exit states (graduation and dropout) using individual level panel ...
In:
Economics of Education Review
30 (2011), 1, S. 177-190
| Daniela Glocker
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Refereed essays Web of Science
Storage devices and demand control may constitute beneficial tools to optimize electricity generation with a large share of intermittent resources through inter-temporal substitution of load. This paper quantifies the related cost reductions in a simulation model of a simplified stylized medium-voltage grid (10 kV) under uncertain demand and wind output. Benders Decomposition Method is applied to create ...
In:
Applied Energy
88 (2011), 12, S. 4700-4712
| Andreas Schröder
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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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Many studies have focused on the influence of human capital and other 'objective' factors on career achievement. In our study, we go a step further by also looking at the impact of self-reported personality traits on differences in career chances. For the first time - to our knowledge - we compare managers and other white-collar employees in Germany's private sector and find evidence that personality ...
In:
Management Revue
22 (2011), 3, S. 240-273
| Simon Fietze, Elke Holst, Verena Tobsch
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Refereed essays Web of Science
We use aggregate country data as well as individual surveys to uncover, for the first time, the effect of extreme events such as natural disasters and terrorist attacks on entrepreneurial activity. We find that natural disasters and terrorist attacks influence individual perceptions of the rewards to entrepreneurship and, more surprisingly, extreme events affect entrepreneurship rates positively in ...
In:
European Journal of Political Economy
27 (2011), Supplement 1, S. S78-S88
| Tilman Brück, Fernanda Llussá, José A. Tavares
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Refereed essays Web of Science
Perceived control plays an important role in shaping development throughout adulthood and old age. Using data from the adult lifespan sample of the national German Socio-Economic Panel (SOEP; N > 10,000, covering 25 years of measurement), we explored long-term antecedents, correlates, and outcomes of perceived control and examined if associations differ with age. Targeting correlates and antecedents ...
In:
Psychology and Aging
26 (2011), 3, S. 559-575
| Frank J. Infurna, Denis Gerstorf, Nilam Ram, Jürgen Schupp, Gert G. Wagner
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Refereed essays Web of Science
This paper extends the two-way flow model of network formation initiated by Bala and Goyal (Econometrica 68(5):1181-1230, 2000) by allowing for partner heterogeneity.In our model if a player i forms a link with player j, then she pays a cost of c j and gets benefits of V j . Our main result consists of the characterization of strict Nash networks. We find that the introduction of partner heterogeneity ...
In:
International Journal of Game Theory
40 (2011), 3, S. 515-525
| Pascal Billand, Christophe Bravard, Sudipta Sarangi
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Refereed essays Web of Science
In theory, individual producer responsibility (IPR) creates incentives for "design-for-recycling". Yet in practice, implementing IPR is challenging, particularly if applied to waste electric and electronic equipment. This article discusses different options for implementing IPR schemes and producers' under German WEEE legislation. In addition, practical aspects of a German "return share" brand sampling ...
In:
Waste Management & Research
29 (2011), 9, S. 931-944
| Vera Susanne Rotter, Perrine Chancerel, Wolf-Peter Schill
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Refereed essays Web of Science
We use a game-theoretic model to analyze the impacts of a hypothetical fleet of plug-in electric vehicles on the imperfectly competitive German electricity market. Electric vehicles bring both additional demand and additional storage capacity to the market. We determine the effects on prices, welfare, and electricity generation for various cases with different players in charge of vehicle operations. ...
In:
Energy Policy
39 (2011), 10, S. 6178-6189
| Wolf-Peter Schill
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Refereed essays Web of Science
We analyse the effect of mass violent conflict on individual expectations in Northern Uganda. We find that the expectations of the future economic situation are negatively affected by recent conflict while the effect on broadly defined welfare is less robust.
In:
Economics Letters
113 (2011), 3, S. 288-291
| Carlos Bozzoli, Tilman Brück, Tony Muhumuza
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Refereed essays Web of Science
The paper investigates the extent to which parental unemployment affects young people's far right-wing party affinity. Cross-sectional estimates from the German Socio-Economic Panel show a positive relationship between growing up with unemployed parents and support for the extreme right. The paper uses differences in parental unemployment experience during childhood across siblings to investigate a ...
In:
Journal of the Royal Statistical Society / Series A
174 (2011), 3, S. 737-758
| Thomas Siedler
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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
Germany's water supply industry is characterized by a multitude of utilities and widely diverging prices, possibly resulting from structural differences beyond the control of firms' management, but also from inefficiencies. In this article, we use Data Envelopment Analysis and Stochastic Frontier Analysis to determine the utilities' Technical Efficiency (TE) scores based on cross-sectional data from ...
In:
Applied Economics
44 (2012), 29, S. 3749-3764
| Michael Zschille, Matthias Walter
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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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The objective of making it easier for parents to successfully balance career and family has recently taken on heightened importance for German family policy. In the last few years, reforms have been implemented in German care policies. In this contribution, we systematically review and evaluate German care policies before and after the implementation of these reforms. We start by discussing international ...
In:
Perspektiven der Wirtschaftspolitik
12 (2011), S1, S. 4-27
| C. Katharina Spieß
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Refereed essays Web of Science
Transnational terrorism in Western countries has raised questions about security measures that constrain civil liberties. This is the first paper that uses a terrorist attack, that in the London 7/7/2005, as an exogenous source of variation to study the dynamics of risk perception and the effect on the readiness to trade off civil liberties for enhanced security. In this framework we show that willingness ...
In:
European Journal of Political Economy
27 (2011), Supplement 1, S. S89-S106
| Carlos Bozzoli, Cathérine Müller