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Does globalization restrict budgetary autonomy? A multidimensional approach

Heinemann, Friedrich - 1999

Does globalization restrict the leeway for national budgetary policy? With the help of cluster and discriminant analysis this study provides evidence on the basis of the experience of OECD countries since the 1970s. Four budgetary dimensions are included in the analysis: tax structure,...

Persistent link: https://www.econbiz.de/10010297629

Does globalization restrict budgetary autonomy? A multidimensional approach

Heinemann, Friedrich - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 1999

Persistent link: https://www.econbiz.de/10005097816

Dynamic Optimal Capital Structure and Technological Change

Lööf, Hans - 2003

This paper incorporates the cost of adjustment between observed and optimal leverage in explaining the variation in firm?s equity or bank-debt financing investments. Using a dynamic adjustment approach identifies the determinants to capital structure between different financial systems. In...

Persistent link: https://www.econbiz.de/10010298124

Dynamic Optimal Capital Structure and Technological Change

Lööf, Hans - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2003

Persistent link: https://www.econbiz.de/10005097988

The fall and rise of market power in Europe

Weche Gelübcke, John P.; Wambach, Achim - 2018

(2011), and De Loecker and Warzynski (2012). The analysis reveals a sharp drop in markups during the crisis, followed by a … post-crisis increase. The European average has not yet reached its pre-crisis level, which is in contrast to results for … the US, where average markups have climbed to pre-crisis levels already in 2011. There is significant heterogeneity among …

Persistent link: https://www.econbiz.de/10011783672

The growth and human capital structure of new firms over the business cycle

Brixy, Udo; Murmann, Martin - 2016

Recent research suggests that employment in young firms is more negatively impacted during economic downturns than employment in incumbent firms. This questions the effectiveness of policies that promote entrepreneurship to fight crises. We complement prior research that is mostly based on...

Persistent link: https://www.econbiz.de/10011569390

Higher-order beliefs among professional stock market forecasters: some first empirical tests

Rangvid, Jesper; Schmeling, Maik; Schrimpf, Andreas - 2009

A sizeable literature reports that financial market analysts and forecasters herd for reputational reasons. Using new data from a large survey of professional forecasters' expectations about stock market movements, we find strong evidence that the expected average of all forecasters' forecasts...

Persistent link: https://www.econbiz.de/10010298852

The European Commission and EUA prices: a high-frequency analysis of the EC's decisions on second NAPs

Rotfuß, Waldemar; Conrad, Christian; Rittler, Daniel - 2009

This paper empirically examines price formation in the European Union Emissions Trading Scheme (EU ETS). Our analysis shows that unexpected allocations of European Union Allowances (EUAs) lead to pronounced price reactions of the expected signs. Moreover, we find evidence that the adjustment of...

Persistent link: https://www.econbiz.de/10010299076

Forecaster overconfidence and market survey performance

Deaves, Richard; Lei, Jin; Schröder, Michael - 2015

We document using the ZEW panel of German stock market forecasters that weak forecasters tend to be overconfident in the sense that they provide extreme forecasts and their confidence intervals are less likely to contain eventual realizations. Moderate filters based on forecast accuracy over...

Persistent link: https://www.econbiz.de/10010512966

Data resource profile: The ZEW FMS dataset

Brückbauer, Frank; Schröder, Michael - 2021

The ZEW Financial Market Survey is a monthly panel survey among financial market experts that was launched in December 1991. The survey focuses on the experts' expectations about international financial markets and macroeconomic developments. We describe the ZEW Financial Market Survey and the...

Persistent link: https://www.econbiz.de/10012798242