In this paper we suggest a new approach to risk assessment for banks. Rather than looking at them individually we try to undertake an analysis at the level of the banking system. Such a perspective is necessary because the complicated network of mutual credit obligations can make the actual risk...

This paper presents the multiple imputation model for the imputation of the missing values of the Austrian Household Survey on Housing Wealth 2008. It is based on Bayesian inference and on the fully conditional specification approach. Both theoretical framework and model specification are...

Although people's perception of (income or wealth) inequality has important e_ects on their decisions as economic agents or voters, little is known about how perceptions relate to measured inequality. We present a novel formal framework that is based on the assumption that people typically do...

We use survey data to demonstrate that individuals extrapolate from their peer groups when forming estimates about aggregate economic outcomes (e.g. the aggregate homeownership rate). In a first approach, we follow the previous literature and construct hypothetical peer groups using information...

For decades, the literature on the estimation of production functions has focused on the elimination of endogeneity biases through different estimation procedures to obtain the correct factor elasticities and other relevant parameters. Theoretical discussions of the problem correctly assume that...

Centralized cryptocurrency exchanges, which manage annual trading volumes on the scale of trillions of US dollars worldwide, are classified as virtual asset service providers (VASPs). They facilitate the exchange, custody, and transfer of cryptoassets organized in wallets across distributed...

A continuous and a discrete rating scale were implemented for a single item happiness question in a representative survey. A randomized controlled experiment enables unique analyses on data quality and distributions, which suggest superiority of the continuous scale. Results raise doubts about...

Recent literature on tax evasion emphasizes the importance of moral considerations to explain compliance behavior. As a consequence scholars aim to identify factors that shape this so-called tax morale. However, the causal link between tax morale and actual compliance behavior is not established...

Recent economic literature emphasizes the importance of moral considerations to explain compliance behavior with respect to underground activities such as tax evasion. A considerable amount of research aims to identify factors that affect the intrinsic motivation to comply. However, the causal...

Economist usually think and work taking into account the temporal dimension of economic and financial processes. Time plays a key role in the economic decision making process and is a fundamental input for statistical models useful to analyze and predict social behavior. Thus time invades our...