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  • Theorie  (399)
  • 1995-1999  (399)
  • 1999  (399)
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  • 1995-1999  (399)
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  • 1
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    Kiel: Institut für Weltwirtschaft (IfW) | ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften, Leibniz-Informationszentrum Wirtschaft Kiel, Hamburg
    Publication Date: 2018-09-06
    Description: We compare changes in schooling output and in schooling input of six East Asian countries to derive a measure of productivity change. Our results question the impression that all is well with education in East Asia. First, we find that the cognitive achievement of pupils did not change substantially in 1980-94 (except for the Philippines, where it most likely declined). Hence schooling output largely remained flat or worsened. Second, we find that the relative price of schooling increased by more than would be warranted by zero productivity growth in schooling. Therefore, we conclude that schooling productivity has declined. The main reason for the fading productivity of schooling appears to be a decline in the pupil-teacher ratio.
    Keywords: I2 ; ddc:330 ; Bildungsinvestition ; Schule ; Bildungsniveau ; Produktivität ; Schätzung ; Theorie ; Ostasien ; Hongkong ; Japan ; Philippinen ; Singapur ; Südkorea ; Thailand
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
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  • 2
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    Tübingen: Mohr | ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften, Leibniz-Informationszentrum Wirtschaft Kiel, Hamburg
    Publication Date: 2018-09-06
    Keywords: ddc:330 ; Multinationales Unternehmen ; Technologietransfer ; Lohntheorie ; Neue Wachstumstheorie ; Theorie ; Schätzung
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
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  • 3
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    Amsterdam: Elsevier | ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften, Leibniz-Informationszentrum Wirtschaft Kiel, Hamburg
    Publication Date: 2018-09-06
    Description: We suggest a new way to quantify the growth effects of capital mobility. We find that for reasonable parameter values, capital mobility has a large impact on income growth.
    Keywords: O4 ; F2 ; ddc:330 ; Capital mobility ; Convergence ; Economic growth ; Entwicklungskonvergenz ; Wachstumstheorie ; Offene Volkswirtschaft ; Internationale Kapitalmobilität ; Theorie
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
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  • 4
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    Kiel: Institut für Weltwirtschaft (IfW) | ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften, Leibniz-Informationszentrum Wirtschaft Kiel, Hamburg
    Publication Date: 2018-09-06
    Description: This paper starts by analyzing the consequences that technical and economic charactcristics of network industries have for the relationship between competition and regulation in these industries. A discussion of alternative regulatory rules shows that normative regulatory economics does not provide results specific and robust enough to serve as concrete rules for regulatory policy. Thus, questions of the appropriate institutions of regulatory policy and the vertical (federal) and horizontal allocation of regulatory competencies come to the fore. However, there are no simple answers to these questions either. The paper suggests, that a „transaction cost politics" approach might help to base the analysis of regulatory institutions on a more solid theoretical basis than traditional normative or public choice approaches (economic theories of federalism, interest group theories etc.) are able to provide.
    Keywords: D72 ; D82 ; H11 ; L43 ; L51 ; ddc:330 ; Netzzugang ; Regulierung ; Marktversagen ; Institutionalismus ; Vertragstheorie ; Agency Theory ; Transaktionskosten ; Theorie
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: German
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  • 5
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    Heidelberg: Springer | ZBW – Leibniz Information Centre for Economics Kiel, Hamburg
    Publication Date: 2018-09-10
    Description: Mit dem diesjährigen Nobelpreis für Wirtschaftswissenschaften wurde Robert A. Mundell „für seine Analyse der Geld- und Fiskalpolitik in verschiedenen Wechselkurssystemen und für seine Analyse optimaler Währungsgebiete" ausgezeichnet. Die zugrundeliegenden Arbeiten wurden bereits in der ersten Hälfte der sechziger Jahre veröffentlicht. Wie ist aus heutiger Sicht ihr Stellenwert in der Wirtschaftspolitik und in der Wissenschaft zu beurteilen?
    Keywords: ddc:330 ; Preisverleihung ; Wechselkurspolitik ; Fester Wechselkurs ; Flexibler Wechselkurs ; Theorie
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: German
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  • 6
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    Nottingham: The University of Nottingham, Centre for Research in Economic Development and International Trade (CREDIT)
    Publication Date: 2018-07-02
    Keywords: ddc:330 ; Armut ; Index ; Lebensstandard ; Regionale Preisstruktur ; Theorie ; Ruanda
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
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  • 7
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    Nottingham: The University of Nottingham, Centre for Research in Economic Development and International Trade (CREDIT)
    Publication Date: 2018-07-02
    Keywords: ddc:330 ; Risikopräferenz ; Erwartungsnutzen ; Haushaltsökonomik ; Test ; Theorie ; Äthiopien
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
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  • 8
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    Nottingham: The University of Nottingham, Centre for Research in Economic Development and International Trade (CREDIT)
    Publication Date: 2018-07-02
    Keywords: ddc:330 ; Laffer-Kurve ; Entwicklungshilfe ; Neue Wachstumstheorie ; Theorie ; Entwicklungsländer
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
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  • 9
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    Nottingham: The University of Nottingham, Centre for Research in Economic Development and International Trade (CREDIT)
    Publication Date: 2018-07-02
    Keywords: ddc:330 ; Entwicklungshilfe ; Wirtschaftswachstum ; Sparen ; Investition ; Theorie ; Entwicklungsländer
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
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  • 10
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    Nottingham: The University of Nottingham, Centre for Research in Economic Development and International Trade (CREDIT)
    Publication Date: 2018-07-02
    Keywords: ddc:330 ; Lebensstandard ; Preisindex ; Regionale Preisstruktur ; Wohlfahrtsanalyse ; Theorie ; Ruanda
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
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  • 11
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    Nottingham: The University of Nottingham, Centre for Research in Economic Development and International Trade (CREDIT)
    Publication Date: 2018-07-02
    Keywords: ddc:330 ; Portfolio-Investition ; Theorie
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
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  • 12
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    Uppsala: Uppsala University, Department of Economics
    Publication Date: 2018-06-27
    Description: This paper provides a brief survey of the bootstrap and its use in econometrics. As an introduction, the paper gives a description of the basics of the method, with a special emphasis on boostrap testing. A fairly large amount of space is devoted to discuss why bootstrap tests provide refinements compared to equivalent asymptotic tests. A series of recent different applications in the econometrics literature is then surveyed, in order to give a picture of this rapidly evolving research field.
    Keywords: C40 ; ddc:330 ; Bootstrap ; Sample Reuse Methods ; Simulation Methods ; Theorie ; Bootstrap-Verfahren
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
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  • 13
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    Uppsala: Uppsala University, Department of Economics
    Publication Date: 2018-06-27
    Description: In an analysis of the formation of unions within a single firm, this paper addresses conditions under which encompassing unions form. It is shown that a production function satisfying decreasing marginal productivity leads to the formation of encompassing unions. This result holds for different ways of dividing the surplus within the union. The effects of changes in heterogeneity, e.g. increased demand for skilled labor, are also analyzed. In the most reasonable setup, a change in heterogeneity does not affect the decision whether to form a union or not. This contrasts with the result in Jun (1989).
    Keywords: D20 ; D33 ; J51 ; ddc:330 ; Union ; Heterogeneity ; Labor ; Gewerkschaftstheorie ; Gewerkschaftsmitgliedschaft ; Berufsbildung ; Arbeitskräfte ; Theorie
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
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  • 14
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    Uppsala: Uppsala University, Department of Economics
    Publication Date: 2018-06-27
    Description: We examine how tax avoidance in the form of trade in well-functioning asset markets affects the empirical study of labor supply. We discuss the implications for tax policy analysis, and we show that a failure to account for avoidance responses may lead to huge errors when predicting how tax reform affects labor supply tax revenue, and the welfare cost of taxation. In conclusion we argue that our model may explain a number of otherwise hard to understand dimensions of tax payer response.
    Keywords: H31 ; J22 ; ddc:330 ; Labor supply ; tax avoidance ; asset markets ; tax reform simulation ; Arbeitsangebot ; Steuervermeidung ; Finanzmarkt ; Theorie
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
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  • 15
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    Uppsala: Uppsala University, Department of Economics
    Publication Date: 2018-06-27
    Description: How does central bank conservatism affect labor market reform? In this paper we examine the economic forces at work. An increase in conservatism triggers two opposite effects. It reduces the inflation bias of discretionary monetary policy and hence the benefits of a reform. It also increases unemployment variability, which increases the precautionary benefits of a reform. In combination, the two effects produce a u-shaped relation between conservatism and labor market reform. An empirical investigation provides evidence consistent with this prediction.
    Keywords: E58 ; E63 ; J38 ; ddc:330 ; Central bank independence ; labor market reform ; credibility ; flexibility ; inflation ; unemployment ; rigidities ; Arbeitsmarktflexibilität ; Zentralbank ; Geldpolitik ; Geldpolitische Transmission ; Theorie
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
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  • 16
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    Siegen: Universität Siegen, Fakultät III, Wirtschaftswissenschaften, Wirtschaftsinformatik und Wirtschaftsrecht
    Publication Date: 2018-07-09
    Description: Given the production technology of a multiproduct firm, economists usually try to represent this technology by functions, namely the cost function, the revenue function and the input and output distance functions. In doing so the analysis directs the attention to the (dual)matching of quantities and prices. Here, the duality scheme is based on Mahler's inequality and stresses dual aspects of associated functions, whereas the underlying optimization problems are not dual programs. Nevertheless, the discussion of shadow pricing reveals the similarities which exist with respect to some appropriately chosen dual programs.
    Keywords: ddc:330 ; Produktionsfunktion ; Mehrproduktproduktion ; Duales Optimierungsproblem ; Opportunitätskosten ; Theorie
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
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  • 17
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    Uppsala: Uppsala University, Department of Economics
    Publication Date: 2018-06-27
    Description: The empirical evidence suggests that parents use inter vivos gifts (i.e., transfers of tangible and financial property) to compensate less well off children whereas post mortem bequests are divided equally among siblings. We study a theoretical model assuming, first, that the amounts given is private information, only known to the donor and the donee, while the amounts bequeathed is public information. Second, we assume that parents care about the reputation that their bequest behavior will leave them after their death. More specifically, this reputation is deteriorating in the difference in amounts inherited. We show that, given optimal choice of altruistic parents is compensatory gifts and equal bequests.
    Keywords: D10 ; D31 ; D63 ; D64 ; ddc:330 ; altruism ; bequests ; inheritances ; gifts ; equal division ; post mortem reputation ; social norm ; information ; Intergenerationale Übertragung ; Erbe ; Familienökonomik ; Overlapping Generations ; Altruismus ; Theorie
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
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  • 18
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    Siegen: Universität Siegen, Fakultät III, Wirtschaftswissenschaften, Wirtschaftsinformatik und Wirtschaftsrecht
    Publication Date: 2018-07-09
    Description: Under the assumption of imperfect competition in a durable good industry, the present paper investigates the efficient regulation of solid waste which causes environmental damage at the end of the product's life. It turns out that the second-best waste tax falls short of the marginal environmental damage if the producers rent their products but may also exceed the marginal damage if the producers sell their products. If in the sales case the industry is regulated with waste taxes and stock subsudies then the first-best tax-subsidy scheme also contains a waste tax which deviates from the marginal damage, in general. Under monopoly this tax unambiguously exceeds the marginal damage. Furthermore, the analysis provides a further reason why the Swan independence result generally doesn't hold in rental markets.
    Keywords: L12 ; L13 ; H21 ; Q28 ; ddc:330 ; Abfallabgabe ; Optimale Besteuerung ; Dauerhaftes Konsumgut ; Unvollkommener Wettbewerb ; Umweltökonomik ; Theorie
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
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  • 19
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    Bonn: University of Bonn, Center for Development Research (ZEF)
    Publication Date: 2018-06-27
    Keywords: ddc:330 ; Humankapital ; Bildungsinvestition ; Wohlfahrtstheorie ; Auswanderung ; Brain Drain ; Externer Effekt ; Migrationspolitik ; Pareto-Optimum ; Theorie ; Entwicklungsländer
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
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  • 20
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    Nottingham: The University of Nottingham, Centre for Research in Economic Development and International Trade (CREDIT)
    Publication Date: 2018-07-02
    Keywords: ddc:330 ; Armut ; Index ; Schätzung ; Theorie ; Ruanda
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
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  • 21
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    Nottingham: The University of Nottingham, Centre for Research in Economic Development and International Trade (CREDIT)
    Publication Date: 2018-07-02
    Keywords: ddc:330 ; Weibliche Arbeitskräfte ; Dualer Arbeitsmarkt ; Overlapping Generations ; Haushaltseinkommen ; Einkommensverteilung ; Verhandlungen ; Kooperatives Spiel ; Theorie
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
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  • 22
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    Bonn: University of Bonn, Center for Development Research (ZEF)
    Publication Date: 2018-06-27
    Keywords: ddc:330 ; Informationstechnik ; Telekommunikation ; Entwicklungstheorie ; Wirtschaftswachstum ; Theorie ; Welt
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
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  • 23
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    Oslo: University of Oslo, Department of Economics
    Publication Date: 2018-06-28
    Description: When uncertain evidence may lead to legal errors, a reduced standard of proof affects the incentive to violate the law. With noisy evidence, an agent may be convicted even if he obeys the law (type I error) or acquitted even if he violates the law (type II error). If the standard of proof is reduced, the expected penalty for minor crimes increases relative to more serious crimes and relative to law compliance. Agents who initially commited minor law violations will become more law compliant, but agents who initially committed violations above a certain level will choose even more serious violations. Thus, the net effect on law violation is ambiguous. The increased probability of type I errors induces excessive law compliance among those who initially complied with the law. The focus is on white collar crime, defined as illegal conduct of an otherwise legal activity.
    Keywords: ddc:330 ; Kriminalitätsökonomik ; Strafverfahren ; Kosten-Nutzen-Analyse ; Theorie
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
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  • 24
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    Oslo: University of Oslo, Department of Economics
    Publication Date: 2018-06-28
    Description: The statistical properties of the efficiency estimators based on Data Envelopment Analysis (DEA) are largely unknown. Recent work by Simar et al. and Banker has shown the consistency of the DEA estimators under specific assumptions, and Banker proposes asymptotic tests of whether two subsamples have the same efficiency distribution. There are difficulties arising from bias in small samples and lack of independence in nested models. This paper suggest no new tests, but presents results on bias in simulations of nested small sample DEA models, and examines the approximating powers of suggested tests under various specifications of scale and omitted variables.
    Keywords: D24 ; C44 ; C15 ; ddc:330 ; Data Envelopment Analysis ; Monte Carlo simulations ; Hypothesis tests ; Non-parametric efficiency estimation ; Monte-Carlo-Methode ; Mathematische Optimierung ; Wirtschaftliche Effizienz ; Technische Effizienz ; Data-Envelopment-Analyse ; Theorie
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
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  • 25
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    Oslo: University of Oslo, Department of Economics
    Publication Date: 2018-06-28
    Description: We model the exchange rate market for a country that initially follows a band policy, as a four-stage sequential game of complete information, where a stochastic shock is realized in the last stage. Given a fixed cost of leaving the band, we show that three types of equilibria may exist, corresponding to different expectations by the public about the government retaining the band, (1) in all future states, (2) only in some future states, and (3) in none of the states. In case (2) a speculative attack occurs but is countered when the cost of countering it is not too high, leading to adverse shifts in fundamentals. We study the government’s incentives to abandon or retain the band, and to abandon the band preemptively before public expectations are revealed. The standard Krugman and Obstfeld models are obtained as special cases, respectively when we have regime collapse as a unique equilibrium, and when there are multiple equilibria and the game always progresses to stage 4.
    Keywords: F31 ; F33 ; ddc:330 ; Currency crisis ; multiple equilibria ; sequential games ; unemployment ; Devisenmarkt ; Devisenspekulation ; Theorie
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
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  • 26
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    Oslo: University of Oslo, Department of Economics
    Publication Date: 2018-06-28
    Description: Johansen (1972) explains how a short run macro production function can be derived on the basis of a distribution of micro production units with respect to fixed input coefficients. The present note points out that the composite mean regression, introduced by Frisch (1929), can be useful in analysing some of the production models in Johansen (1972). The focus is on complementary, alternative and marginally independent production factors at the macro level in a production model which assumes efficient allocation of given quantities of inputs.
    Keywords: ddc:330 ; Composite mean regression ; complementary ; alternative and marginally independent production factors ; macro production functions ; Regression ; Produktionsfunktion ; Theorie
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
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  • 27
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    Oslo: University of Oslo, Department of Economics
    Publication Date: 2018-06-28
    Description: I characterize backward induction in an epistemic model of perfect information games where players have common certain belief of the consistency of preferences rather than the rationality of choice. In this approach, backward induction corresponds to common certain belief of ‘belief in each subgame of opponent rationality’. At an interpretative level this result resembles the one established by Aumann [6]. By instead imposing common certain belief of ‘belief (only in the whole game) of opponent rationality’, I interpret Ben Porath’s [14] support of the Dekel-Fudenberg procedure.
    Keywords: C72 ; ddc:330 ; Spieltheorie ; Nash-Gleichgewicht ; Theorie
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
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  • 28
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    Oslo: University of Oslo, Department of Economics
    Publication Date: 2018-06-28
    Description: In this paper, we consider the formulation and estimation of systems of regression equations with random individual effects in the intercept terms from unbalanced panel data, i.e., panel data where the individual time series have unequal length. Generalized Least Squares (GLS) estimation and Maximum Likelihood (ML) estimation are discussed. A stepwise algorithm for solving the ML problem is developed.
    Keywords: C13 ; C23 ; C33 ; ddc:330 ; Panel Data ; Unbalanced panels ; Regression equation systems. ; Maximum Likelihood ; Heterogeneity ; Covariance estimation ; Regression ; Panel ; Theorie ; Maximum-Likelihood-Methode ; Korrelation
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
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  • 29
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    Oslo: University of Oslo, Department of Economics
    Publication Date: 2018-06-28
    Description: The purpose of screening programs is to discover at an early point in time serious diseases, such as cervical cancer and colorectal cancer, that can be treated at lower social costs than would be the case if detected at later stages of disease development. In general, three questions are at the forefront of screening programs: Given a specific screening activity, first, what is the optimal age to start screening individuals, and, second, how often should the individuals be screened? Third, given budget constraints, how should resources be allocated and expended across different types of screening programs? In this article, my aim is to derive a mathematical model that can be used to answer these three questions. Of course, to implement the model, one needs empirical information, and so I attempt to characterize here as well the types of data needed to answer the questions. Overall, my presentation builds on the prior analyses and findings of Gyrd-Hansen, Søgaard, and Kronborg (1996) and Gyrd-Hansen (1997).
    Keywords: ddc:330 ; Gesundheitsvorsorge ; Krebskrankheit ; Theorie
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
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  • 30
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    Uppsala: Uppsala University, Department of Economics
    Publication Date: 2018-06-27
    Description: The paper examines policy externalities between imperfectly competitive open economies where unemployment prevails in general equilibrium. We develop a two-country and two-sector model with monopolistic competition in the goods market and wage bargaining in the labor market. Policy externalities operate through the real exchange rate and economic integration is modeled as a reduction in trade costs. We explore how market integration influences policy spillovers, employment and real wages. We also examine how national and supranational commodity tax policies affect sectoral and total employment. Finally, we characterize optimal commodity taxes with non-cooperative and cooperative policies and offer some rough estimates of the welfare gains from policy coordination, using a calibrated version of the model.
    Keywords: D43 ; E61 ; F15 ; J23 ; J64 ; ddc:330 ; Economic integration ; imperfect competition ; wage determination ; policy cooperation ; Wirtschaftsintegration ; Unvollkommener Wettbewerb ; Offene Volkswirtschaft ; Zwei-Länder-Modell ; Monopolistischer Wettbewerb ; Handelbare Güter ; Nicht-handelbare Güter ; Verbrauchsteuer ; Allgemeines Gleichgewicht ; Theorie
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
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  • 31
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    Uppsala: Uppsala University, Department of Economics
    Publication Date: 2018-06-27
    Description: Within the framework of the common value model, we examine the magnitude of the difference in expected outcome between first-price and second-price sealed bid auctions. The study is limited to two empirical specifications of bidders’ signals: Weibull and normal distribution. The optimal bid functions and the expected procurer’s cost under both auction formats are derived. Simulations are undertaken to analyze the impact that random draws of signals have on the differences in outcome from the two auction formats. Using estimates from structural estimation in previous empirical work on first-price auction data, where Weibull and normal distributions of signals have been applied, the hypothetical expected gain from switching from a first-price sealed bid auction to a second-price sealed bid auction mechanism is computed.
    Keywords: D44 ; ddc:330 ; Common value auctions ; procurement ; Vickrey auction ; Auktionstheorie ; Beschaffung ; Signalling ; Theorie
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
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  • 32
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    Siegen: Universität Siegen, Fakultät III, Wirtschaftswissenschaften, Wirtschaftsinformatik und Wirtschaftsrecht
    Publication Date: 2018-07-09
    Description: For a durable consumption good which turns into waste after consumption, the socially optimal durability increases with an increase in the marginal environmental damage. In a laissez-faire equilibrium under perfect competition, producers fail to provide an efficient product design, i.e. durability is inefficiently small, whereas the amount of solid waste is inefficiently large. The market failure is corrected simply by Pigouvian taxation which also can be interpreted as an extension of the producer responsibility. In the case of imperfect competition (oligopoly or monopoly) Pigouvian taxation indeed ensures an efficient durability but generally not an efficient amount of solid waste.
    Keywords: ddc:330 ; Dauerhaftes Konsumgut ; Abfall ; Internalisierung externer Effekte ; Marktstruktur ; Theorie
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
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    Heidelberg: Springer | ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften, Leibniz-Informationszentrum Wirtschaft Kiel, Hamburg
    Publication Date: 2018-09-06
    Keywords: ddc:330 ; Lohnpolitik ; Beschäftigungspolitik ; Arbeitsproduktivität ; Theorie ; Deutschland
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: German
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    Tübingen: Mohr Siebeck | ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften, Leibniz-Informationszentrum Wirtschaft Kiel, Hamburg
    Publication Date: 2018-09-06
    Keywords: ddc:330 ; Negative Einkommensteuer ; Wirtschaftspolitische Wirkungsanalyse ; Einkommensteuer ; Sozialtransfer ; Steueraufkommen ; Arbeitsangebot ; Beschäftigungseffekt ; Lohnstruktur ; Lohnniveau ; Simulation ; Theorie ; Deutschland
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: German
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    Heidelberg: Springer | ZBW – Leibniz Information Centre for Economics Kiel, Hamburg
    Publication Date: 2018-09-10
    Description: Zur Verbesserung der steuerlichen Rahmenbedingungen für Investitionen wird die Forderung erhoben, die zur Finanzierung von Investitionen verwendeten Gewinne steuerlich zu schonen oder gar steuerfrei zu lassen. Dies bedeutet dann zugleich, daß nur die dem Unternehmen entnommenen Gewinne der Besteuerung unterliegen. Welche Bedingungen sind bei solch einem Reformansatz zu beachten? Welche Ausgestaltung wäre am zweckmäßigsten?
    Keywords: ddc:330 ; Selbstfinanzierung ; Einkommensteuertarif ; Steuerbegünstigung ; Theorie ; Deutschland ; Investition
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
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    Berlin: Wissenschaftszentrum Berlin für Sozialforschung (WZB)
    Publication Date: 2018-09-10
    Description: According to the contemporary political economy literature on France, the country appears caught in the worst of all possible worlds: it fails to create the conditions for economic growth and employment by deregulating labour markets as the UK has done, and it lacks the institutional infrastructure that makes the German economy an export success. This paper, which analyses the adjustment of the French economy in the 1980s and into the 1990s, argues that this image of France is wrong. This literature misunderstands the relative position of French industry and misinterprets how firms managed to successfully make the transition from conventional mass production to flexible quality production. The particular French mode of coordination, revolving around the state-centered elite political-economic structure, was at the basis of this adjustment path. The paper analyses how this mode of coordination interacted with the crisis of the French production regime in the early 1980s, and with the changes in the ownership structures of large firms in response to that crisis. The resulting corporate governance structure increased the autonomy of top management from the state as well as capital markets, and led to a situation whereby far-reaching organisational changes in the large companies could be pursued.
    Description: Der gegenwärtigen Fachliteratur zufolge befindet sich die französische Volkswirtschaft in einer äußerst problematischen Lage: Versuche, die Bedingungen für Wirtschaftswachstum und neue Arbeitsplätze durch Deregulierung nach britischem Vorbild zu schaffen, schlagen fehl. Die institutionelle Infrastruktur, auf welcher die deutsche Exportstärke beruht, ist aber ebensowenig gegeben. Das vorliegende Papier, in dem die Anpassung der französischen Wirtschaft in den achtziger und bis in die neunziger Jahre hinein analysiert wird, argumentiert, daß dieses Frankreichbild falsch ist. Es beruht auf einer Fehlinterpretation der Art und Weise, in der es Firmen gelungen ist, den Übergang von herkömmlicher Massenproduktion zu flexiblen, qualitätsorientierten Herstellungsverfahren zu schaffen. Die besondere französische Art der Koordination, die auf einer staatszentrierten, elitegeprägten wirtschaftspolitischen Struktur basiert, bildete die Grundlage dieses Anpassungspfades. Das Papier untersucht, welchen Einfluß diese Art der Koordination auf die Krise des französischen Produktionsregimes zu Beginn der achtziger Jahre sowie auf die daraus resultierenden Veränderungen in der Eigentumsstruktur großer Unternehmen hatte. Die Corporate Governance Struktur, die das Ergebnis dieses Prozesses war, erhöhte die Unabhängigkeit von Spitzenmanagern gegenüber Staat und Kapitalmärkten und schuf damit die Möglichkeit zu weitreichenden organisatorischen Veränderungen innerhalb der großen Unternehmen.
    Keywords: ddc:330 ; Innovation ; Staatliche Einflussnahme ; Institutionalismus ; Kapitalismus ; Systemvergleich ; Theorie
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
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    Kiel: Institut für Weltwirtschaft (IfW) | ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften, Leibniz-Informationszentrum Wirtschaft Kiel, Hamburg
    Publication Date: 2018-09-06
    Description: In der vorliegenden Arbeit wird ein Modell beschrieben, mit dem Ungleichverteilungen von VC untersucht werden. Im Zentrum stehen zwei Hypothesen: Die Spezialisierungshypothese, nach deren Aussage kein stattlicher Eingriff erforderlich ist, und die Hypothese der ineffizienten Ressourcenallokation, nach deren Aussage staatliches Eingreifen wünschenswert ist. Bei der Modellierung innovativer offener Volkswirtschaften werden zum einen heterogene Agenten berücksichtigt, die diskrete Entscheidungen treffen, zum anderen wird die bestehende fundamentale Unsicherheit von Innovationen eingefangen. Innovationen werden mit Eigenkapital oder Fremdkapital finanziert. Die Ersparnisse determinieren die Anzahl der Innovationen pro Periode. Durch die Unteilbarkeiten des Modells kann dieses nicht analytisch untersucht werden; die Simulationsmethode ist die adäquate Methode.
    Description: Venture capital's role in technological specialisation is studied in an open economy model where the predominant mode of financing new technology-based firms (bank credits and VC) influences the economy's specialisation and growth. The model considers discrete decisions of the heterogeneous agents, adaptive expectations and fundamental uncertainty of the innovation process. A missing venture capital market can be ascribed to an inefficient allocation of resources, calling for a correction or compensation through public policy interventions or to an efficient pattern of technological specialisation based on comparative advantages of the economy, that does not justify any public intervention.
    Keywords: G24 ; O16 ; O41 ; ddc:330 ; Risikokapital ; Unternehmensgründung ; Innovation ; Unternehmensfinanzierung ; Kapitalanlage ; Offene Volkswirtschaft ; Allokationseffizienz ; Neue Wachstumstheorie ; Internationale Arbeitsteilung ; Theorie
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
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    Kiel: Institut für Weltwirtschaft (IfW) | ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften, Leibniz-Informationszentrum Wirtschaft Kiel, Hamburg
    Publication Date: 2018-09-06
    Description: Probit models are employed to evaluate leading indicators for Germany's recessions. The predictive power of leading indicators is found to be lower than assumed in previous studies. Although, monetary variables provide the best predictive power for recessions, survey data and order inflows show a lag rather than a lead to the recession time series. US interest rates have also some information content with respect to the German cycle. Constructing a model with a set of variables to predict recessions does not help to improve the forecasts. The out-of-sample performance of the indicators appeals to be even worse.
    Keywords: E32 ; ddc:330 ; Leading indicators ; business cycles ; probit models ; Konjunkturindikator ; Konjunkturprognose ; Prognoseverfahren ; Mikroökonometrie ; Schätzung ; Theorie ; Deutschland
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
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    Canterbury: University of Kent, Department of Economics
    Publication Date: 2018-06-28
    Description: Recent theoretical work has shown that the incidence of ad valorem and specific taxes may differ and each may be over or under-shifted onto consumers in the presence of imperfect competition. These results are used to derive a method of estimating market power and conduct. An application is made to the European cigarette industry. Previous empirical comparison of the price effects of ad valorem and specific taxes is limited. For a group of countries with broadly similar cigarette industries, there is evidence of undershifting of both taxes, with the specific tax having a significantly greater impact on price. The extremes of both perfect competition and monopoly can be rejected. Behaviour is no less competitive than the equivalent of Cournot.
    Keywords: H22 ; L13 ; L66 ; ddc:330 ; Tax Incidence ; Commodity Taxation ; Market Power ; Mark-up ; Conjectural Variations ; Cigarettes ; Steuerinzidenz ; Verbrauchsteuer ; Marktmacht ; Unvollkommener Wettbewerb ; Tabaksteuer ; Zigarettenindustrie ; Theorie ; EU-Staaten
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
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    Canterbury: University of Kent, Department of Economics
    Publication Date: 2018-06-28
    Description: This paper provides some of the first empirical evidence on the psychological impact of past unemployment. Using eleven waves of the German socio-economic panel (GSOEP) data set, we show, as is now standard, that those currently unemployed have far lower life satisfaction scores than do the currently employed. We also show that, over the whole sample, well-being is lower the greater has been the past experience of unemployment. In this sense, unemployment scars. However, an interaction term between current and past unemployment attracts a positive coefficient. This suggests a habituation effect whereby the negative well-being effect of unemployment is much lower for those who have been unemployed more often in the past. We also use the panel aspect of our data to present some evidence that those who suffer greater falls in well-being on entering unemployment are less likely to remain unemployed one year later. Together these findings offer a psychological explanation of persistent unemployment.
    Keywords: D10 ; J28 ; J63 ; ddc:330 ; Unemployment ; Life Satisfaction ; Habituation ; Hysteresis ; Arbeitslosigkeit ; Lebensqualität ; Sozialpsychologie ; Hysteresis ; Theorie ; Deutschland
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
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  • 41
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    Canterbury: University of Kent, Department of Economics
    Publication Date: 2018-06-28
    Description: We look at the different ways of aggregating dual use products exports to give the security perception of exporter countries and their consistency with the relevant export control regimes. Also, we analyze different models of export controls highlighting the role of the perception of security, market structure and competition between exporting firms in determining the existence of multiple equilibria and therefore, the need for coordination between countries in setting export controls.
    Keywords: F10 ; D62 ; C72 ; D74 ; ddc:330 ; Arms Control ; Coordination Games ; International Agreements ; Waffenhandel ; Kooperatives Spiel ; Internationales Abkommen ; Marktstruktur ; Theorie ; Welt
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
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  • 42
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    Canterbury: University of Kent, Department of Economics
    Publication Date: 2018-06-28
    Description: This paper presents an extended model of cumulative growth in which the effects of innovation and catching-up are considered. The effect of innovation adds another source of cumulative growth to that of the traditional models and allows for the consideration of the importance of non-price factors as determinants of international competitiveness. Catching-up, on the other hand, is the major force leading to convergence in productivity due to the effect of the diffusion of technology. The model allows for analysing whether cumulative forces may lead to stable growth and whether this solution generates convergence in productivity levels. The structural model is then tested for a set of OECD countries over the period 1965 to 1994 and the results are used for carrying out the comparative dynamics. The results support the view that both the Verdoorn-Kaldor mechanism, and the induced effect of innovation on export performance, are important cumulative forces that interact with the effect of catching-up towards a convergent pattern of growth.
    Keywords: O3 ; O4 ; F43 ; ddc:330 ; Cumulative Growth ; Innovation ; Catching-up ; Wirtschaftswachstum ; Entwicklungskonvergenz ; Innovation ; Produktivität ; Theorie
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
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    Canterbury: University of Kent, Department of Economics
    Publication Date: 2018-06-28
    Description: Given heterogeneity in incomes and health risks, with asymmetric information in the latter, preferences over the public-private mix in health insurance and care are derived. Results concerning crowding-out in the presence of adverse selection are established. For low-risk individuals, crowding-out depends on risk aversion. A set of such individuals prefers a mixed public-private health care system. A majority-voting equilibrium exists. Under weak assumptions about the income distribution and tax function, both public and private sectors exist in the equilibrium. Comparing information regimes, public provision is more likely to be positive, and will not be lower, under asymmetric information. In the presence of asymmetric information, the equilibrium is more complicated than the "ends-against-the-middle" variety derived elsewhere in the literature.
    Keywords: D82 ; H42 ; H51 ; H11 ; ddc:330 ; Public provision of private goods ; health insurance ; health care ; adverse selection ; public choice ; Adverse Selektion ; Krankenversicherung ; Neue politische Ökonomie ; Theorie
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
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    Uppsala: Uppsala University, Department of Economics
    Publication Date: 2018-06-27
    Description: In facility layout problems, a major concern is the optimal design or remodeling of the facilities of an organization. The decision maker’s objective is to arrange the facility in an optimal way, so that the interaction among functions (i.e. machines, inventories, persons) and places (i.e. offices, work locations, depots) is efficient. A simple pure-binary LP model is developed and solved for a small hospital, where five functions are to be redesigned to five different locations. The model is rather flexible and can be used, with small modifications, for larger facility layouts.
    Keywords: C60 ; C61 ; C63 ; ddc:330 ; Facility layout ; Binary ; Linear Programming ; Optimization ; Efficiency ; Produktionsorganisation ; Arbeitsorganisation ; Mathematische Optimierung ; Theorie
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
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    Uppsala: Uppsala University, Department of Economics
    Publication Date: 2018-06-27
    Description: This paper studies a model of how political parties use resources for campaigning to inform voters. We show existence of equilibrium under mild assumptions for an arbitrary number of parties. The main result is that if the parties are more extreme, then they spend less resources on campaigning (on average), compared with moderate parties. The reason is the following. Consider voters that are informed by one party only, say party 1. If both parties move closer to each other, then the actual and expected platform moves closer to the indifferent voters peak. By concavity of preferences, the increase in payoff of voting for the party that informed is bigger than the increase in payoff of voting for the other party. Thus, the previously indifferent voter now strictly prefers party 1. The effect makes parties gain more votes by informing when parties are moderate. Since spending increases, voters are (on average) more informed when parties are moderates.
    Keywords: C72 ; D72 ; D89 ; ddc:330 ; Political Parties ; Campaigning ; Politische Partei ; Wahlverhalten ; Öffentlichkeitsarbeit ; Theorie
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
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    Uppsala: Uppsala University, Department of Economics
    Publication Date: 2018-06-27
    Description: This paper addresses optimal taxation, when the relationship between consumption and environmental damage is uncertain and treated as a random variable by policy makers. The main purpose is to analyze how additional uncertainty about this relationship affects the optimal unit tax on the consumption good that is causing environmental damage. We find that the optimal response to this tax depends on (i) the attitudes towards risk and (ii) how other policy instruments affect the demand for the good that is causing damage to the environment.
    Keywords: D62 ; D80 ; H21 ; Q20 ; ddc:330 ; Green taxes ; Uncertainty ; Optimal taxation ; Optimale Besteuerung ; Ökosteuer ; Risiko ; Theorie
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
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  • 47
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    Siegen: Universität Siegen, Fakultät III, Wirtschaftswissenschaften, Wirtschaftsinformatik und Wirtschaftsrecht
    Publication Date: 2018-07-09
    Description: This paper examines a Waste Management Organisation's (WMO) pricing options to implement the Pareto-efficient allocation in an economy where materials are first extracted, then used for producing a consumption good and finally recycled or landfilled. The WMO is established by the producers who are responsible for the proper disposal of consumption waste which consists of a mix of materials. That mix forms an aspect of the Producers' (green) product design and effects the productivity of secondary material generation. The most favorable pricing strategies are shown to comprise (positive or negative) fees on producers based on residuals and material inputs.
    Keywords: H21 ; Q28 ; ddc:330 ; Kreislaufwirtschaft ; Produkt-Recycling ; Ressourcenökonomik ; Allokationseffizienz ; Abfallpolitik ; Betriebliche Preispolitik ; Umwelthaftung ; Produktpolitik ; Öko-Produkt ; Theorie
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
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    Dortmund: Universität Dortmund, Sonderforschungsbereich 475 - Komplexitätsreduktion in Multivariaten Datenstrukturen
    Publication Date: 2018-12-07
    Description: We analyze macroeconomic data using univariate and multivariate forecast combining techniques. We simulate forecast errors with different variance-covariance structures. The simulations are used to compare the performance of univariate and multivariate combining techniques.
    Keywords: ddc:330 ; Variance-covariance structure ; simulation ; combination of forecasts ; multivariate combination of forecasts. ; Prognoseverfahren ; Multivariate Analyse ; Theorie
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
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    Dortmund: Universität Dortmund, Sonderforschungsbereich 475 - Komplexitätsreduktion in Multivariaten Datenstrukturen
    Publication Date: 2018-12-07
    Description: We propose multivariate classification as a statistical tool to describe business cycles. These cycles are often analyzed as a univariate phenomenon in terms of GNP or industrial net production ignoring additional information in other economic variables. Multivariate classification overcomes these limitations by reducing dimension in a way suitable for human perception. Based on a four phase scheme (upswing, upper turning point, downswing, lower turning point) we demonstrate the potential of classification methods by determining the important economic variables (stylized facts) for the German business cycle.
    Keywords: ddc:330 ; Business cycle ; classification ; dimension reduction ; simulated annealing ; transition structure ; Konjunktur ; Zeitreihenanalyse ; Multivariate Analyse ; Theorie
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    Dortmund: Universität Dortmund, Sonderforschungsbereich 475 - Komplexitätsreduktion in Multivariaten Datenstrukturen
    Publication Date: 2018-12-07
    Description: Most of the literature on combination of forecasts deals with the assumption of unbiased individual forecasts. Here, we consider the case of biased forecasts and discuss two different combination techniques resulting in an unbiased forecast. On the one hand we correct the individual forecasts, and on the other we calculate bias based weights. A simulation study gives some insight in the situations where we should use the different methods.
    Keywords: ddc:330 ; combination of forecasts ; bias correction ; regression ; generalized Jackknife ; multivariate forecasts ; Prognoseverfahren ; Bias ; Theorie
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
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    Dortmund: Universität Dortmund, Sonderforschungsbereich 475 - Komplexitätsreduktion in Multivariaten Datenstrukturen
    Publication Date: 2018-12-07
    Description: Recent results on so-called SEMIFAR models introduced by Beran (1997) are discussed. The nonparametric deterministic trend is estimated by a kernel method. The differencing and fractional differencing parameters as well as the autoregressive coefficients are estimated by an approximate maximum likelihood approach. A data-driven algorithm for estimating the whole model is proposed based on the iterative plug-in idea for selecting bandwidth in nonparametric regression with long-memory. Prediction for SEMIFAR models is also discussed briefly. Two examples illustrate the potential usefulness of these models in practice.
    Keywords: ddc:330 ; trend differencing ; long-range dependence ; difference stationarity ; fractional ARIMA ; BIC ; kernel estimation ; bandwidth ; semiparametric models ; forecasting ; Nichtparametrisches Verfahren ; Zeitreihenanalyse ; Theorie ; ARMA-Modell
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
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    Dortmund: Universität Dortmund, Sonderforschungsbereich 475 - Komplexitätsreduktion in Multivariaten Datenstrukturen
    Publication Date: 2018-12-07
    Description: In this paper we use 4 different time series models to forecast sales in a goods management system. We use a variety of forecast combining techniques and measure the forecast quality by applying symmetric and asymmetric forecast quality measures. Simple, rank-, and criteria-based combining methods lead to an improvement of the individual time series models.
    Keywords: ddc:330 ; ARX forecasts ; dynamic linear model ; combination of forecasts ; goods management system ; asymmetric loss function ; Marktforschung ; Prognoseverfahren ; Theorie
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  • 53
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    Milano: Fondazione Eni Enrico Mattei (FEEM)
    Publication Date: 2018-11-15
    Description: The theoretical evolution of academic beliefs and practical policymakers' perceptions of road pricing (from now on rp) as an instrument of efficient and equitable allocation of resources are described and analysed. The aim of the paper is to reconstruct the logical evolution of the theory behind rp in order to understand why there has been scarce policy impact in spite of a long theoretical tradition. In so doing I try to bring to the fore the fundamental issues that will have to be tackled by future research in order to generate consensus around this policy instrument. The paper is structured in four parts. In the first part the fundamental issues of a typical rp model are considered. Among the most important aspects one recalls: first-best/second-best environment, short/long term analysis, homogeneous/heterogeneous time evaluation, perfect/imperfect information, efficiency/equity analysis, use/non-use of resources generated, private/public transportation provision. In the second part the characterising parameters have been interpreted in the light of the Smeed Report of 1964 that can be considered representative of the "old belief". In the third part the "present awareness" is expressed by an analysis of the main contents of the book Internalising the Social Costs of Transport of 1993. In the fourth part some reflections on the most promising research areas for rp implementation and acceptance are put forward. Specific research will have to be conducted concerning social acceptability and feasibility, simultaneous cost internalisation, behavioural assumptions, information and pricing interconnections.
    Keywords: R41 ; R48 ; ddc:330 ; Road pricing ; Social Acceptability ; Congestion ; Congestion charging ; Straßenbenutzungsgebühr ; Verkehrsstau ; Theorie
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
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  • 54
    Publication Date: 2018-11-15
    Description: This paper considers the estimation of binary choice panel data models with discrete endogenous regressors. We present a switching probit model which accounts for selectivity bias as well as for other forms of time invariant unobserved heterogeneity. Individual effects are allowed to be correlated with the explanatory variables, which can be predetermined as opposed to strictly exogenous. This model is applied to estimate a female participation equation with endogenous fertility and predetermined existing children and with individual effects using PSID data. We use the family sex composition as an instrument for exogenous fertility movements. The results indicate that assuming the exogeneity of fertility induces a downward bias in absolute value in the estimated negative effect of fertility on participation, although the failure to account for unobserved heterogeneity exaggerates this effect. Moreover, the estimates that deal with the endogeneity of fertility and control for fixed effects, but treat existing children as strictly exogenous produce a smaller effect of fertility than those obtained treating this variable as predetermined.
    Keywords: C21 ; C23 ; C25 ; J13 ; ddc:330 ; Binary choice ; Panel data ; Endogenous variables ; Predetermined variables ; Labour force participation ; Fertility ; Fertilität ; Weibliche Arbeitskräfte ; Schätztheorie ; Mikroökonometrie ; Theorie
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  • 55
    Publication Date: 2018-11-15
    Description: This study compares the environmental impacts of urban public transport and automobiles (energy use, emissions, noise nuisance, waste materials and use of space). For this purpose two models have been developed FACTS-Urban (Forecasting air pollution by car traffic simulation) and MILOV (environmental impacts of PT). Current Dutch situation as well as future scenarios on the demand side and the (technological) supply side have been studied. Generally speaking PT (especially rail) is and will remain cleaner than the use of the car. However, the environmental advantage of Diesel buses over passenger cars is diminishing rapidly.
    Keywords: D62 ; L92 ; R41 ; H53 ; ddc:330 ; Emissions ; Public transport ; Policy ; Immissionsschutz ; Umweltschutz ; Stadtverkehr ; Öffentlicher Nahverkehr ; Kraftfahrzeugverkehr ; Theorie
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
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    Milano: Fondazione Eni Enrico Mattei (FEEM)
    Publication Date: 2018-11-15
    Description: Respondents of contingent valuation surveys may place a null value on the public good, for reasons that differ from a genuine indifference to the good, but that can be interpreted as a "protest": either against the interview, or the public management, or both. A good survey design can effectively reduce them, but protest votes can hardly be completely removed from the dataset, and, if there is sample selection bias, they lead to biased estimates for the wtp measure. We propose a survey design, and a sample selection model, that allows taking into account, and correcting, the possible bias due to protest votes. Since the asymptotic standard errors estimated by means of the inverse of the information matrix containing the sample selection parameter are not reliable, we use an alternative procedure based on the likelihood profile. It will be seen that sample selection models may present estimation problems because of the flatness of the likelihood function: in some cases confidence intervals around the sample selection coefficient are too wide to give evidence of presence or absence of sample selection bias. We maintain that even in these circumstances the sample selection model with the protest votes should be preferred to the model without protest votes, since it takes into account the uncertainty about the estimates of the willingness to pay for the public good.
    Keywords: C35 ; C51 ; C81 ; D60 ; H41 ; Q26 ; ddc:330 ; Contingent valuation ; Protest votes ; Sample selection bias ; Survey design ; Likelihood profile ; Sample selection parameter ; Willingness to pay ; Wahlverhalten ; Stichprobenverfahren ; Lokale öffentliche Güter ; Wahrscheinlichkeitsrechnung ; Theorie
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
    Type: doc-type:workingPaper
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    Milano: Fondazione Eni Enrico Mattei (FEEM)
    Publication Date: 2018-11-15
    Description: An integrated assessment model is used to simulate the introduction of various emissions trading schemes based on the Kyoto protocol on the reduction of greenhouse emissions. The implications of the various systems in terms of income distribution are illustrated, and it is claimed that the issue of equity should not be regarded as independent of the issue of market efficiency. In particular, in this paper it is shown that (1) changes produced on an equity index by the imposition of emission constraints (by country) are not significantly higher than those obtained by the subsequent introduction of a market mechanism, and (2) that the different market regimes which could be adopted have quite different distributional implications. These results are interpreted as a direct consequence of the fact that a competitive market equilibrium is equivalent to a centralised social welfare maximisation in which the function to be maximised, however, normally differs from the social function used to define equity objectives.
    Keywords: C5 ; F1 ; F4 ; ddc:330 ; Equity/Efficiency ; Emissions Trading ; Banking ; Flexibility mechanisms ; International environmental agreements ; Kyoto ; Integrated Assessment Modelling ; Emissionshandel ; Treibhausgas-Emissionen ; Umweltabkommen ; Wirtschaftliche Effizienz ; Verteilungsgerechtigkeit ; Soziale Wohlfahrtsfunktion ; Simulation ; Theorie ; Welt
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
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    Milano: Fondazione Eni Enrico Mattei (FEEM)
    Publication Date: 2018-11-15
    Description: We model club formation as a non-cooperative game of coalition formation and surplus division. We show how social norms and individual rationality sustain a particular form of collective inefficiency, namely excessive entry in the joint production and exploitation of an excludable good. We term this phenomenon the "tragedy of the clubs". The tragedy of the clubs is a pervasive equilibrium phenomenon.
    Keywords: C78 ; D71 ; ddc:330 ; Clubs ; Coalition formation ; Multiperson bargaining ; Clubtheorie ; Koalition ; Spieltheorie ; Wirtschaftliche Effizienz ; Theorie
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
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