We study cross-country price differences in the European market for new passenger cars based on detailed pricing and technical data. Car prices in Europe converged until the year 2003, but not thereafter. Within the EU 15 countries the price range of the median model in 2004 was close to 20...

We study cross-country price differences in the European market for new passenger cars based on detailed pricing and technical data. Car prices in Europe converged until the year 2003, but not thereafter. Within the EU 15 countries the price range of the median model in 2004 was close to 20...

Improving financial literacy is high on the agenda of many governments. The purpose of this paper is to broaden the theoretical approach towards the concept of financial literacy. The paper introduces and integrates several consumer behavior and marketing concepts to better understand how they...

Energieversorger stehen vor grossen Herausforderungen. Sie müssen den Anteil erneuerbarer Energien im Elektrizitätsmix erhöhen und dabei die Netzstabilität gewährleisten, Effizienzziele erfüllen und dem Wettbewerbsdruck im freien Markt standhalten. Intelligente Energienetze, sogenannte...

The common approach for aligning territories is the balancing approach which establishes territories that are almost balanced relative to one or more territory attributes like potential or workload. Although this approach has been extremely populär for at least the last 25 years, it has been...

Observationally equivalent workers are paid higher wages in larger firms. This fact is often named as the "firm-size wage gap" and is regarded as a key empirical puzzle. Using micro-level data from Turkey, we document a new stylized fact: the firm-size wage gap is more pronounced for informal...

The paper analyzes the integration of euro area sovereign bond markets during the European sovereign debt crisis. It tests for contagion (i.e., an intensification in the transmission of shocks across countries), fragmentation (a reduction in spillovers) and flight-to-quality patterns, exploiting...

The term structure of interest rates does not adhere to the expectations hypothesis, possibly due to a risk premium. We consider the implications of a risk premium that arises from endogenous market segmentation driven by variable inflation rates. In the absence of autocorrelation in inflation,...

The term structure of interest rates does not adhere to the expectations hypothesis, possibly due to a risk premium. We consider the implications of a risk premium that arises from endogenous market segmentation driven by variable inflation rates. In the absence of autocorrelation in inflation,...

The paper analyzes the integration of euro area sovereign bond markets during the European sovereign debt crisis. It tests for contagion (i.e., an intensification in the transmission of shocks across countries), fragmentation (a reduction in spillovers) and flight-to-quality patterns, exploiting...

The Markets in Financial Instruments Directive (MiFID) has changed regulated European equity trading significantly after its introduction in November 2007. This dissertation analyses the impact of MiFID on trading intensity and market quality from an intraday and interday perspective by...

This paper analyses the determinants and effects of ECB interventions in times of severe distress. We focus on the Greek government bond market in mid-2010 and use a unique new dataset to show, for the first time, what type of bonds the ECB bought. We then explore the short-term effects of ECB...

Network neutrality regulations for the Internet have been discussed for about a decade. In Europe, recent efforts have produced a proposal by the European Commission for a network neutrality regulation. Envisaged is the introduction of a two-tiered Internet traffic regulation based on a...