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Diskussionspapiere 1466 / 2015
This paper estimates a bivariate VAR-GARCH(1,1) model to examine linkages between food and energy prices. The adopted framework is suitable to analyse both mean and volatility spillovers, and also allows for possible parameter shifts resulting from four recent events, namely: 1) the 2006 food crisis, 2) the Brent oil bubble, 3) the introduction of the Renewable Fuel Standard (RFS) policy, and 4) the ...
2015| Alanoud Al-Maadid, Guglielmo Maria Caporale, Fabio Spagnolo, Nicola Spagnolo
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Diskussionspapiere 1393 / 2014
Expectations form the basis of economic decisions of market participants in an uncertain world. Sentiment indicators reflect those expectations and thus have a proven track record for predicting economic variables. However, respondents of surveys perceive the world to a large extent with the help of media. So far, mainly very crude media information, such as word-count indices, has been used in the ...
2014| Konstantin A. Kholodilin, Tobias Thomas, Dirk Ulbricht
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SOEPpapers 675 / 2014
There is still considerable dispute about the magnitude of labor supply elasticities. While differences in micro and macro estimates are recently attributed to frictions and adjustment costs, we show that relatively low labor supply elasticities derived from microeconometric models can also be explained by modeling assumptions with respect to wages. Specifically, we estimate 3,456 structural labor ...
2014| Max Löffler, Andreas Peichl, Sebastian Siegloch
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SOEPpapers 676 / 2014
In this paper we explore the application of structured additive distributional regression for the analysis of conditional income distributions in Germany following the reunification. Using a bootstrapped Kolmogorov-Smirnov test we find that conditional personal income distributions can generally be modelled using the three parameter Dagum distribution. Additionally our results hint at an even more ...
2014| Alexander Sohn, Nadja Klein, Thomas Kneib
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SOEPpapers 616 / 2013
We analyzed whether individuals reared in institutions differ in their general life satisfaction from people raised in their families. The data comprised of 19,210 German adults (51.5% female) aged from 17 to 101 years and were provided by the SOEP, an ongoing, nationally representative longitudinal study in Germany. Compared to people raised in families, individuals reared in institutions reported ...
2013| David Richter, Sakari Lemola
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SOEPpapers 617 / 2013
A popular argument for a federal minimum wage is that it will prevent in-work poverty and reduce income inequality. We examine this assertion for Germany, a welfare state with a relative generous means-tested social minimum and high marginal tax rates. Our analysis is based on a microsimulation model that accounts for the interactions between wages, the tax-benefit system and net incomes at the household ...
2013| Kai-Uwe Müller, Viktor Steiner
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Referierte Aufsätze Web of Science
We empirically demonstrate a practical approach of efficiency evaluation with limited data availability in some regulated industries. We apply PCA-DEA for radial efficiency measurement to U.S. natural gas transmission companies in 2007. PCA-DEA reduces dimensions of the optimization problem while maintaining most of the variation in the original data. Our results suggest that the methodology reduces ...
In:
Review of Network Economics
9 (2010), 2, Article 4
| Maria Nieswand, Astrid Cullmann, Anne Neumann
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SOEPpapers 252 / 2009
Reliable measures of poverty are an essential statistical tool for public policies aimed at reducing poverty. In this paper we consider the reliability of income poverty measures based on survey data which are typically plagued by missing data and measurement error. Neglecting these problems can bias the estimated poverty rates. We show how to derive upper and lower bounds for the population poverty ...
2009| Cheti Nicoletti, Franco Peracchi, Francesca Foliano
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Diskussionspapiere 962 / 2009
This paper provides an empirical demonstration for a practical approach of efficiency evaluation against the background of limited data availability in some regulated industries. Here, traditional DEA may result in a lack of discriminatory power when high numbers of variables but only limited observations are available. We apply PCA-DEA for radial efficiency measurement to US natural gas transmission ...
2009| Maria Nieswand, Astrid Cullmann, Anne Neumann
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SOEPpapers 263 / 2010
In recent decades, many firms offered more discretion to their employees, often increasing the productivity of effort but also leaving more opportunities for shirking. These "high-performance work systems" are difficult to understand in terms of standard moral hazard models. We show experimentally that complementarities between high effort discretion, rent-sharing, screening opportunities, and competition ...
2010| Björn Bartling, Ernst Fehr, Klaus M. Schmidt