We estimate the impact of renewable energy sources on the merit order and the wholesale price in Spain. We use a structural vectorautoregressive model for the merit order of production and argue that wind and solar production are exogenous to the system. As expected the overall effect is...

This paper analyses the benefits of further market integration of European wholesale electricity markets. Major gains from trade are sill left unrealized due to (1) uncomplete market coupling of national wholesale markets, (2) isolated national regulation of capacity and reserve mechanisms (CRM)...

This paper analyzes the convergence process of Central-West European wholesale electricity markets from 2004 to the beginning of 2011. Jevon's law of price indifference is scrutinized using price correlation, parametric and nonparametric tests of price-differences and cointegration analysis. As...

The focus of this paper is the empirical evaluation of the German Accelerated Vehicle Retirement program, that was implemented in January 2009 to stimulate automobile consumption. To adress this question a monthly dataset of new car registrations owned by private consumers from March 2001 until...

This paper offers a new and broad insight into the landscape of German cartels, utilizing a unique dataset of all illegal horizontal cartels detected by the German Federal Cartel Office (FCO) between 1958 and 2004 and all legal cartels authorized during the same time period. We also provide the...

This paper analyses the extent of inter-format retail competition between supermarkets, discounters and drugstores in Germany, using data from the German market for diapers. We estimate a random coefficient logit model at the individual household level. Based on consumer substitution patterns,...

Research on bargaining power in vertical relationships is scarce. It remains particularly unclear which factors drive bargaining power between the two negotiating parties in a vertical structure. We use a demand model where the consumer demand determines the total pie of industry profits....

The German reserve power market was subject to important regulatory changes in recent years. A new market design was created by synchronization and interconnection of the four control areas. In this paper, we analyze whether or not the reforms led to lower prices for minute reserve power (MRP)....

This paper provides an empirical analysis how tariff diversity affects fixed-line broadband uptake, utilizing a new data set with 1497 fixed-line and 2158 mobile broadband tariffs from 91 countries across the globe. An instrumental variable approach is applied to estimate demand, controlling for...

This is the first paper that studies the causal effect of studying economics on subjective well being. Based on a survey among 918 students of economics and other social sciences, we estimate the effects of studying in the different fields on individual life satisfaction. Controling for personal...