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  • Diskussionspapiere 433 / 2004

    Declining Output Volatility in Germany: Impulses, Propagation, and the Role of Monetary Policy

    This paper investigates the effect of economic integration on the ability of firms to maintain a collusive understanding about staying out of each other's markets. The paper distinguishes among different types of trade costs: ad valorem, unit, fixed. It is shown that for a sufficient reduction of ad valorem trade costs, a cartel supported by collusion on either quantities or prices will be weakened, ...

    2004| Ulrich Fritsche, Vladimir Kuzin
  • Diskussionspapiere 429 / 2004

    Measuring State Dependence in Individual Poverty Status: Are there Feedback Effects to Employment Decisions and Household Composition?

    Using a sample of prime-aged men from the German Socio-Economic Panel (GSOEP), this paper examines the effects of past poverty experience on future poverty status, future employment status and household composition. The empirical results suggest that even after controlling for observed and unobserved characteristics, past poverty experience increases the poverty risk of future periods. Moreover, there ...

    2004| Martin Biewen
  • Diskussionspapiere 443 / 2004

    Macroeconomic Uncertainty and Firm Leverage

    This paper investigates the link between the optimal level of nonfinancial firms' leverage and macroeconomic uncertainty. We develop a structural model of a firm's value maximization problem that predicts that as macroeconomic un-certainty increases the firm will decrease its optimal level of borrowing. We test this proposition using a panel of non{financial US firms drawn from the COM-PUSTAT quarterly ...

    2004| Christopher F. Baum, Andreas Stephan, Oleksandr Talavera
  • Externe Monographien

    Macroeconomic Uncertainty and Firm Leverage

    Chestnut Hill, Mass.: Boston College, Department of Economics, 2004, 23 S.
    (Boston College Working Papers in Economics ; 602)
    | Christopher F. Baum, Andreas Stephan, Oleksandr Talavera
  • Diskussionspapiere 328 / 2003

    Trade, Technology and Labour Markets: Empirical Controversies in the Light of the Jones Model

    The deterioration of the income and employment position of unskilled workers in the OECD since the 1980s is a well-documented fact. The debate about the causes of this development is dominated by two competing hypotheses, "North-South Trade" ("globalisation") and technological progress. Several empirical methodologies have been used to identify and quantify the importance of these two explanations: ...

    2003| Michael Pflüger
  • Diskussionspapiere 312 / 2002

    Structural Unemployment and the Output Gap in Germany: Evidence from an SVAR Analysis within a Hysteresis Framework

    The German unemployment rate shows strong signs if non-stationarity over the course of the previous decades. This is in line with an insider-outsider model under full hysteresis. We applied a "theory-guided view" to the data using the structural VAR model as developed by Balmaseda, Dolado and López-Salido (2000) allowing for full hysteresis on the labour market. Our identification of the model implies ...

    2002| Ulrich Fritsche, Camille Logeay
  • Diskussionspapiere 339 / 2003

    A Simple, Analytically Solvable, Chamberlinian Agglomeration Model

    This paper presents a simple Chamberlinian agglomeration model which, like the canonical core-periphery (CP) model, contains two agglomerative forces. However, in contrast to that model, the present model is analytically solvable. Moreover, the present model exhibits a 'supercritical pitchfork bifurcation' rather than the 'subcritical pitchfork bifurcation' of the CP model. This may be a better description ...

    2003| Michael Pflüger
  • Weitere externe Aufsätze

    A GARCH Forecasting Model to Predict Day-Ahead Electricity Prices

    In: Regulation and Investment in Infrastructure Provision
    Berlin : Technische Universität [u.a.]
    S. 461-474
    | Reinaldo C. Garcia, Javier Contreras, Marko van Akkeren, Joao Batista C. Garcia
  • Externe Monographien

    The Dynamics of Repeat Migration: A Markov Chain Analysis

    Bonn: IZA, 2003, 35 S.
    (Discussion Paper Series / Forschungsinstitut zur Zukunft der Arbeit ; 885)
    | Amelie Constant, Klaus F. Zimmermann
  • Externe Monographien

    The Stock-Flow Approach to the Real Exchange Rate of CEE Transition Economies

    Paris: CEPII, 2004, 41 S.
    (Working Paper / CEPII ; 2004,15)
    | Bálazs Égert, Amina Lahrèche-Révil, Kirsten Lommatzsch
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