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Exchange Rate Management in Emerging Markets: Intervention via an Electronic Limit Order Book

Melvin, Michael; Menkhoff, Lukas; Schmeling, Maik - CESifo - 2009

beliefs of market participants. We find for our sample that intervention increases exchange rate volatility (and spread) for … the next minutes but that intervention days show a lower degree of volatility (and spread) than non-intervention days. We … also show for intraday data that the price impact of interbank order flow is smaller on intervention days than on non-intervention …

Persistent link: https://www.econbiz.de/10004979392

Automating Exchange Rate Target Zones: Intervention via an Electronic Limit Order Book

Melvin, Michael; Menkhoff, Lukas; Schmeling, Maik - CESifo - 2008

This paper describes and analyzes “automated intervention” of a target zone. Unusually detailed information about the … order book allows studying intervention effects in a microstructure approach. We find in our sample that intervention … increases exchange rate volatility (and spread) for the next minutes but that intervention days show a lower degree of …

Persistent link: https://www.econbiz.de/10005181265

Anthropometric Dividends of Czechoslovakia's Break Up

Costa-i-Font, Joan; Kossarova, Lucia - CESifo - 2014

capitalism after the split up of Czechoslovakia. An additional year spent under democracy increases height by 0.286cm for Slovaks …

Persistent link: https://www.econbiz.de/10011148854

How Do Judgmental Overconfidence and Overoptimism Shape Innovative Activity?

Herz, Holger; Schunk, Daniel; Zehnder, Christian - CESifo - 2013

Recent field evidence suggests a positive link between overconfidence and innovative activities. In this paper we argue that the connection between overconfidence and innovation is more complex than the previous literature suggests. In particular, we show theoretically and experimentally that...

Persistent link: https://www.econbiz.de/10010877694

Growing Groups, Cooperation, and the Rate of Entry

Ranehill, Eva; Schneider, Frédéric; Weber, Roberto A. - CESifo - 2014

We study the stability of voluntary cooperation in response to varying rates at which a group grows. Using a laboratory public-good game with voluntary contributions and economies of scale, we construct a situation in which expanding a group’s size yields potential efficiency gains, but only...

Persistent link: https://www.econbiz.de/10010877699

Justice under Uncertainty

Cettolin, Elena; Riedl, Arno - CESifo - 2013

choices have uncertain outcomes. We report the results of a first experiment investigating just allocations of resources when …

Persistent link: https://www.econbiz.de/10010877816

Organizations, Diffused Pivotality and Immoral Outcomes

Falk, Armin; Szech, Nora - CESifo - 2013

This paper studies how organizational design affects moral outcomes. Subjects face the decision to either kill mice for money or to save mice. We compare a Baseline treatment where subjects are fully pivotal to a Diffused-Pivotality treatment where subjects simultaneously choose in groups of...

Persistent link: https://www.econbiz.de/10010877864

More than Thirty Years of Ultimatum Bargaining Experiments: Motives, Variations, and a Survey of the Recent Literature

Güth, Werner; Kocher, Martin G. - CESifo - 2013

subjectively-colored, recollection of the initial ultimatum game experiment, its motivation and the immediate responses. Second, we …

Persistent link: https://www.econbiz.de/10010877980

Self-Confidence and Strategic Behavior

Charness, Gary; Rustichini, Aldo; Ven, Jeroen van de - CESifo - 2013

We test experimentally an explanation of over and under confidence as motivated by (perhaps unconscious) strategic concerns, and find compelling evidence supporting this hypothesis in the behavior of participants who send and respond to others’ statements of confidence about how well they have...

Persistent link: https://www.econbiz.de/10010877986

Self Control and Intertemporal Choice: Evidence from Glucose and Depletion Interventions

Kuhn, Michael A.; Kuhn, Peter; Villeval, Marie Claire - CESifo - 2014

affected by manipulations of willpower? Our results are mixed, with one widely used willpower-reducing intervention increasing … subjects’ savings, and with evidence of a substantial placebo effects with respect to another intervention based on sugared …

Persistent link: https://www.econbiz.de/10010877990