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, Dutch and Russian gas export prices to Germany in 1990-1998 are examined. Cointegration tests show that the different border … prices for gas to Germany move proportionally over time, indicating an integrated gas market (the Law of One Price holds). We …
Persistent link: https://www.econbiz.de/10009781639
After opening up of the Interconnector, the liberalized UK natural gas market and the regulated Continental gas markets became physically integrated. The oil-linked Continental gas price became dominant, due to both the large volume of the Continental market and to the fact that the significant...
Persistent link: https://www.econbiz.de/10002578053
countries around the world, including Canada, Japan, Korea, Mexico, Norway, Switzerland, Turkey and possibly the United States …
Persistent link: https://www.econbiz.de/10012619413
Modern trade theory emphasizes firm-level productivity differentials to explain the cross-border activities of non-financial firms. This study tests whether a productivity pecking order also determines international banking activities. Using a novel dataset that contains all German banks'...
Persistent link: https://www.econbiz.de/10003923511
Insufficient capital buffers of banks have been identified as one main cause for the large systemic effects of the recent financial crisis. Although higher capital is no panacea, it yet features prominently in proposals for regulatory reform. But how do increased capital requirements affect...
Persistent link: https://www.econbiz.de/10009570042
process. Our main finding is that city growth in western Germany did not follow a random walk, while city growth in eastern … Germany did follow a random walk. Different post-war economic systems are most likely responsible for this outcome. …
Persistent link: https://www.econbiz.de/10011514015
-unification Germany. We find support for a spatial wage structure for German city-district wages, and hence indirectly for the relevance … of a new economic geography model for Germany. We also find that demand linkages in Germany are strongly localised and … that the old border still matters to the extent that economic interactions between western and eastern Germany are still …
Persistent link: https://www.econbiz.de/10009780204