The government has been and remains crucial in providing goods and services in modern-day economies. However, the manner of this provision is complex and touches upon numerous areas of economic and social policy. Government action plays an especially central role for services of general interest, as well as in the regulation of their provision by the private sector. Thus, the efficient and effective ...
The development of private consumption is a crucial factor in compiling macroeconomic projections as part of national accounts. Household savings also play an important role as an explanatory variable for consumer development, since private households must decide whether to spend their incomes on consumption or saving. The estimated savings rate in DIW Berlin's economic projections can be improved ...
The price for a single-family house depends both on the characteristics of the building and on its location. We propose a novel semiparametric method to extract location values from house prices. After splitting house prices into building and land components, location values are estimated with adaptive weight smoothing. The adaptive estimator requires neither strong smoothness assumptions nor local ...
Die Entwicklung des privaten Verbrauchs ist eine entscheidende Größe bei der Erstellung makroökonomischer Prognosen im Rahmen der Volkswirtschaftlichen Gesamtrechnungen. Als erklärende Variable für die Konsumentwicklung spielt damit auch die Ersparnisbildung der Haushalte eine zentrale Rolle, da die privaten Haushalte bei der Verwendung ihrer Einkommen zwischen Konsum und Ersparnis entscheiden müssen. ...
In the light of persistent regional disparities in Germany, a wide range of studies discuss the role of regional characteristics in explaining the mobility behavior of individuals. Although multi-stage mobility theories underline the importance of regional structures particularly within the first stage of the decision-making process – whereas the actual mobility behavior is often seen as being dependent ...
This paper is the first to link economic theory with empirical life-satisfaction analyses referring to internal migration. We derive an extension of the Roback (1982) model to account for benefits from regional amenities in the utility function, while controlling for income, housing costs, and migration costs. Using highly disaggregated spatial panel information on people’s migration decisions and ...
This study evaluates the impact of fuel prices on new car purchases, using exhaustive individual-level data of monthly registration of new private cars in France from 2003 to 2007. Detailed information on the car holder enables us to account for heterogeneous preferences across purchasers. We identify demand parameters through the large oil price fluctuations of this period. We find that the sensitivity ...
Theory suggests that subjective well-being is affected by income comparisons and adaptation to income. Empirical tests of the effects often rely on self-constructed measures from survey data. This paper shows that results can be highly sensitive to simple parameter changes. Using large-scale panel data from Germany and the UK, I report cases where plausible variations in the underlying income type ...