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When do fiscal consolidations lead to consumption booms? : lessons from a laboratory experiment

Geiger, Martin; Luhan, Wolfgang J.; Scharler, Johann - 2015

According to the expectations channel, a fiscal consolidation may give rise to less contractionary, or even … design a laboratory experiment to study the conditions under which the expectations channel operates. Our results indicate … consumption, which supports the expectations channel. We also find that the expectations channel is more pronounced if the fiscal …

Persistent link: https://www.econbiz.de/10010509128

Equality, equity and incentives : an experiment

Balafoutas, Loukas; Kocher, Martin; Putterman, Louis G.; … - 2010 - This version: 09/16/2010

We devise a new experimental game by nesting a voluntary contributions mechanism in a broader spectrum of incentive schemes. With it, we study tensions between egalitarianism, equity concerns, self-interest, and the need for incentives. In a 2x2 design, subjects either vote on or exogenously...

Persistent link: https://www.econbiz.de/10009737083

Equality, equity and incentives : an experiment

Balafoutas, Loukas; Kocher, Martin; Putterman, Louis G.; … - 2010

Persistent link: https://www.econbiz.de/10008799081

Strive to be first or avoid being last : an experiment on relative performance incentives

Dutcher, E. Glenn; Balafoutas, Loukas; Lindner, Florian; … - 2013

Managers often use tournaments which motivate workers to compete for the top, compete to avoid the bottom, or both. In this paper we compare the effectiveness and efficiency of the corresponding incentive schemes. To do so, we utilize optimal contracts in a principal-agent setting, using a...

Persistent link: https://www.econbiz.de/10009743404

Bank-lending standards, loan growth and the business cycle in the Euro area

Kaufmann, Sylvia; Scharler, Johann - 2013

We study the relationship between bank lending standards, loan growth and the business cycle in the euro area and the US within a vector error correciton model using Bayesian estimation methods. To deal with the short data series available for the euro area, we exploit information from the...

Persistent link: https://www.econbiz.de/10010197600

Bubble or no bubble : the impact of market model on the formation of price bubbles in experimental asset markets

Kirchler, Michael; Huber, Jürgen; Stöckl, Thomas - 2009

Persistent link: https://www.econbiz.de/10008657585

History repeating : Spain beats Germany in the EURO 2012 final

Zeileis, Achim; Leitner, Christoph; Hornik, Kurt - 2012

.9%). Thus, one can conclude that - based on bookmakers' expectations - it seems most likely that history repeats itself and …

Persistent link: https://www.econbiz.de/10009742081

The inflow-effect : trader inflow and bubble formation in asset markets

Kirchler, Michael; Bonn, Caroline; Huber, Jürgen; … - 2014 - This version: August 5, 2014

We investigate the impact of trader and cash inflow on bubble formation in asset markets with a novel design featuring heterogeneous information and a constant fundamental value. Implementing seven treatments we find that (i) only the joint inflow of traders and cash triggers bubbles...

Persistent link: https://www.econbiz.de/10010402768

Home victory for Brazil in the 2014 FIFA World Cup

Zeileis, Achim; Leitner, Christoph; Hornik, Kurt - 2014

After 36 years the FIFA World Cup returns to South America with the 2014 event being hosted in Brazil (after 1978 in Argentina). And as in all previous South American FIFA World Cups, a South American team is expected to take the victory: Using a bookmaker consensus rating - obtained by...

Persistent link: https://www.econbiz.de/10010356725

History repeating : Spain beats Germany in the EURO 2012 final

Zeileis, Achim; Leitner, Christoph; Hornik, Kurt - 2012

Persistent link: https://www.econbiz.de/10009571147