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Wars and markets : how bond values reflect World War II
Frey, Bruno S.; Kucher, Marcel - 1999
Historical events are reflected in asset prices. In this paper, we analyse government bond prices of Germany and … Austria traded on the Swiss bourse during WWII. Some war events that are generally considered crucial are clearly reflected in … is Germany's capitulation in 1945. The analysis of financial markets provides a fruitful method to evaluate the …
Persistent link: https://www.econbiz.de/10009781716
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What do we know about recent exchange rate models? : in-sample fit and out-of-sample performance evaluated
Cheung, Yin-Wong; Chinn, Menzie David; Pascual, Antonio … - 2003
Previous assessments of nominal exchange rate determination have focused upon a narrow set of models typically of the 1970 s vintage, including monetary and portfolio balance models. In this paper we re-assess the in-sample fit and out-of-sample prediction of a wider set of models that have been...
Persistent link: https://www.econbiz.de/10011507659
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Being independent is a great thing : subjective evaluations of self-employment and hierarchy
Frey, Bruno S.; Benz, Matthias - 2003
One can be independent, or subject to decisions made by others. This paper empirically tests whether individuals attach an intrinsic value to the institutional difference between independence and hierarchy. Taking self-employment as an important case of independence, it is shown that the...
Persistent link: https://www.econbiz.de/10011507967
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Experimental evidence on the effects of home computers on academic achievement among schoolchildren
Fairlie, Robert W.; Robinson, Jonathan - 2013
minority children - lack access to a computer at home. Does this impede educational achievement? We test this hypothesis by … computer ownership and use, we find no effects on any educational outcomes, including grades, standardized test scores, credits …
Persistent link: https://www.econbiz.de/10009707556
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The information content of capacity utilisation rates for output gap estimates
Graff, Michael; Sturm, Jan-Egbert - 2010
From a theoretical perspective, the output gap is probably the most comprehensive and convincing concept to describe the cyclical position of an economy. Unfortunately, for practical purposes, the concept depends on the determination of potential output, which is an inherently unobservable...
Persistent link: https://www.econbiz.de/10008797779
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Pro-social behavior, reciprocity or both?
Frey, Bruno S.; Meier, Stephan - 2002
Empirical evidence is provided for the importance of non-reciprocal pro-social behavior of individuals in an anonymous, n-person pure public good setting. A unique panel data set of 136,000 observations is matched with an extensive survey. Even under anonymous conditions, a large number of...
Persistent link: https://www.econbiz.de/10011410448
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Deterrence and morale in taxation : an empirical analysis
Frey, Bruno S.; Feld, Lars P. - 2002
The standard model of tax evasion based on the subjective expected utility maximization does not perform particularly well in econometric analyses: it predicts too little evasion and produces unsatisfactory econometric parameter estimates. The model is extended by looking at how the tax...
Persistent link: https://www.econbiz.de/10011410640
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Assessing the efficiency of an insurance provider : a measurement error approach
Jametti, Mario; Ungern-Sternberg, Thomas von - 2003
Switzerland. The most commonly used measure for this kind of exercise is the Claims / Premium ratio. We argue that this measure … measurement errors and apply the model to a data set on 19 firms in housing insurance markets in Switzerland. We show that the …
Persistent link: https://www.econbiz.de/10011507834
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Voter support for privatizing education : evidence on self-interest and ideology
Merzyn, Wolfram; Ursprung, Heinrich W. - 2003
Economic theory advances various arguments in favor of and against privatizing education. In this paper we investigate the extent to which these arguments influence voters opinions. We analyze two popular referenda in which some 400,000 voters in two Swiss cantons expressed their opinions on the...
Persistent link: https://www.econbiz.de/10011508114
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Happiness, economy and institutions
Frey, Bruno S.; Stutzer, Alois - 2000
A cross-regional econometric analysis suggests that institutional factors in the form of direct democracy (via initiatives and referenda) and of federal structure (local autonomy) systematically and sizeably raise s elf-reported individual well-being. This positive effect can be attributed to...
Persistent link: https://www.econbiz.de/10009781520