Abstract. Numerous economic studies examine effects of alcohol price and tax changes on drinking, drinking patterns and alcohol-related harms. The consensus view is that prices are an effective instrument for addressing issues of heavy drinking, binge drinking, and adverse outcomes associated...

The responsiveness of house prices to monetary policy shocks depends both on the nature of the shock – expansionary versus contractionary – and on city-specific housing supply elasticities. We test and find supporting evidence for the hypothesis that expansionary monetary policy shocks have...

We examine international equity allocations at the fund level and show how different returns on the foreign and domestic proportion of portfolios determine rebalancing behavior and trigger capital flows. We document the heterogeneity of rebalancing across fund types, its greater intensity under...

Elastic Internet applications have the greatest share in the traffic transported over the Internet today. Web access and e-mail are the most popular applications among most people using the Internet. Although these applications can well adapt to a wide range of band- widths, their performance is...

Pricing greenhouse gases is widely understood as the most efficient approach for mitigating climate change, yet distributional effects hamper political acceptance. These distributional effects are especially important in transport, the fastest growing sector for greenhouse gas emissions. Using...

Recently, Baumeister and Hamilton (henceforth: BH) have argued that existing studies of the global oil market fail to account for uncertainty about their identifying assumptions. They recommend an alternative econometric approach intended to address this concern by formulating priors on the...