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Market efficiency in the emerging securitized real estate markets

Schindler, Felix - 2010

This paper tests the random walk hypothesis and market efficiency for twelve emerging as well as for four developed securitized real estate markets from 1992 to 2009. Random walk properties of equity prices influence return dynamics, and market efficiency is often considered an essential...

Persistent link: https://www.econbiz.de/10010300506

Readdressing the trade effect of the Euro: Allowing for currency misalignment

Hogrefe, Jan; Jung, Benjamin; Kohler, Wilhelm K. - 2010

We know that euro-area member countries have absorbed asymmetric shocks in ways that are inconsistent with a common … conventional trade cost channel and trade effects deriving from 'implicit currency misalignment'. Econometric estimation reveals … estimates of the euro effect on trade based on misalignment. This reveals asymmetric trade effects and heterogeneous outlooks …

Persistent link: https://www.econbiz.de/10010300380

Drivers for international innovation activities in developed and emerging countries

Schmiele, Anja - 2009

This paper aims to shed light on firm specific drivers that lead firms to internationalise their innovation activities. The paper draws a comprehensive picture of driving forces by including firm capabilities, characteristics of the firm’s competitive environment and the influence of...

Persistent link: https://www.econbiz.de/10010299465

The Impact of Training on Earnings: Differences Between Participant Groups and Training Forms

Kuckulenz, Anja; Zwick, Thomas - 2003

one-step full-information maximum likelihood and a two stage least squares estimation to regress the impact of training …

Persistent link: https://www.econbiz.de/10010297306

Returns to Education and Individual Heterogeneity

Pohlmeier, Winfried; Pfeiffer, Friedhelm; Maier, Michael - 2004

In this paper, human capital investments are evaluated by assuming heterogeneous returns to education. We use the potential outcome approach to measure the causal effect of human capital investments on earnings as a continuous treatment effect. Empirical evidence is based on a sample of West...

Persistent link: https://www.econbiz.de/10010297356

Education, Gender and Earnings in France and Germany: Level and Dispersion Effects

Lauer, Charlotte - 2004

This paper analyses the relationship between education, gender and earnings in France and Germany. The model chosen here enables to estimate the impact of education not only on the expected earnings level but also on their dispersion, taking gender-specific sample selectivity into account. The...

Persistent link: https://www.econbiz.de/10010297379

Does Public Scientific Research Complement Industry R&D Investment? The Case of NIH Supported Basic and Clinical Research and Pharmaceutical Industry R&D

Toole, Andrew A. - 2005

This research investigates the hypothesis that publicly funded scientific research complements private R&D investment in the pharmaceutical industry. New microlevel data on public research investment by the U.S. National Institutes of Health allow measures of basic and clinical research in seven...

Persistent link: https://www.econbiz.de/10010297487

Heterogeneous Returns to Training: An Analysis with German Data Using Local Instrumental Variables

Kuckulenz, Anja; Maier, Michael - 2006

Empirical work on the wage impact of training has noted that unobserved heterogeneity of training participants should play a role. The expected return to training, which partly depends on unobservable characteristics, is likely to be a crucial criterion in the decision to take part in training...

Persistent link: https://www.econbiz.de/10010297510

Continuing Vocational Training in Germany: A Comparative Study Using 3 German Data Set

Kuckulenz, Anja - 2006

Empirical work on continuing training in Germany provides surprisingly divergent evidence on the incidence of training. This makes comparison of econometric analyses of the impact of training on labour market outcomes di?cult. Three large German data sets are used here to bring to light the data...

Persistent link: https://www.econbiz.de/10010297532

Wage and Productivity Effect of Continuing Training in Germany: A Sectoral Analysis

Kuckulenz, Anja - 2006

Wage and productivity effects of training are compared to study how the training rent is shared between employers and employees. With panel data from 1996-2002, I analyse the impact of continuing training on wages and productivity in a Cobb-Douglas production framework. Using system GMM...

Persistent link: https://www.econbiz.de/10010297533