Showing 1 - 10 of 26
We propose an analytical framework based on the Kalman Filter to quantify central distortionary effects of product-specific subsidies. In our application, we use time series of foreign and domestic order book levels during and after the temporary installation of a “cash for clunkers” subsidy...
Persistent link: https://www.econbiz.de/10012919055
Using pooled data on instructional time and student performance by subject, our study finds evidence for the school inputs-student achievement relationship for German states. This finding is robust both to the inclusion of state fixed effects and in an extensive extreme bounds analysis. It...
Persistent link: https://www.econbiz.de/10013120234
We introduce an approach for the empirical study of the quantity theory of money (QTM) that is novel both with respect to the specific steps taken as well as the general methodology employed. Empirical studies of the QTM have focused directly on the relationship between the rate of change of the...
Persistent link: https://www.econbiz.de/10013091422
Quarterly GDP figures usually are published with a delay of some weeks. A common way to generate GDP series of higher frequency, i.e. to nowcast GDP, is to use available indicators to calculate a single index by means of a common factor derived from a dynamic factor model (DFM). This paper deals...
Persistent link: https://www.econbiz.de/10013059505
This paper investigates whether a nation's contingent value of hosting a mega-event depends on past experience with implied public goods benefits for its residents. Applying data from an ex-ante and ex-post query based on contingent valuation methods, we use the FIFA World Cup 2006 as a natural...
Persistent link: https://www.econbiz.de/10012764394
Persistent link: https://www.econbiz.de/10012754394
We document the empirical fact that asset prices in the consumption-goods and investment-goods sector behave almost identically in the US economy. In order to derive the cyclical behavior of the equity returns in these two sectors, we consider a standard two-sector real-business cycle model with...
Persistent link: https://www.econbiz.de/10013076976
This study assesses fiscal sustainability in contemporary Spain at the regional level. Spain consists of 17 autonomous regions, two fiscal regimes differing in taxing autonomy, and two path-dependent types of communities with more and less legislatively recognized autonomy. Three of the 17...
Persistent link: https://www.econbiz.de/10013315619
This paper investigates the relationship between real exchange rate changes and the German, French and UK automobile and mechanical engineering sector. In stylized models, exports decline whenever the domestic currency appreciates and vice versa. Strategic firm behavior, however, can obscure the...
Persistent link: https://www.econbiz.de/10013315771
What are the long-term effects of Communism on economically relevant notions such as social trust? To answer this question, we use the reunification of Germany as a natural experiment and study the post-reunification trajectory of convergence with regard to individuals’ trust and risk, as well...
Persistent link: https://www.econbiz.de/10013316149