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Demographic Change and Bank Profitability. Empirical Evidence from German Savings Banks

Berlemann, Michael; Oestmann, Marco; Thum, Marcel - CESifo - 2010

predict the development of bank profitability due to demographic shifts up to 2025. One of the main findings is that the …, allows us estimating the socio-demographic determinants of retail profitability. Using a simulation model, we are able to … the population reduces the customer base, ageing per se increases profitability as older customers typically generate …

Persistent link: https://www.econbiz.de/10008534055

Competition and Gender Prejudice: Are Discriminatory Employers Doomed to Fail?

Weber, Andrea; Zulehner, Christine - CESifo - 2009

According to Becker's (1957) famous theory on discrimination, entrepreneurs with a strong prejudice against female workers forgo profits by submitting to their tastes. In a competitive market their firms lack efficiency and are therefore forced to leave. We present new empirical evidence for...

Persistent link: https://www.econbiz.de/10008572488

An Empirical Analysis of Legal Insider Trading in the Netherlands

Degryse, Hans; Jong, Frank de; Lefebvre, Jérémie - CESifo - 2009

In this paper, we employ a registry of legal insider trading for Dutch listed firms to investigate the information content of trades by corporate insiders. Using a standard event-study methodology, we examine short-term stock price behavior around trades. We find that purchases are followed by...

Persistent link: https://www.econbiz.de/10005034632

Nominal and Real Exchange Rate Models in South Africa: How Robust are they?

Egert, Balazs - CESifo - 2012

This paper addresses difficulties in modelling exchange rates in South Africa. Real exchange rate models of earlier research seem to be sensitive to the sample period considered, alternative variable definition, data frequency and estimation methods. Alternative exchange rate models proposed in...

Persistent link: https://www.econbiz.de/10010554826

The Impact of Macro News and Central Bank Communication on Emerging European Forex Markets

Egert, Balazs; Kocenda, Evžen - CESifo - 2013

We employ two-stage empirical strategy to analyze the impact of macroeconomic news and central bank communication on … currencies to central bank verbal interventions becomes important only during the crisis period, though. …

Persistent link: https://www.econbiz.de/10010668471

Dumping in Developing and Transition Economies

Moraga-González, José Luis; Viaene, Jean-Marie - CESifo - 2004

We build a simple theoretical model to understand why developing and transition economies have increasingly applied anti-dumping laws. To that end, we investigate the strategic incentives of oligopolistic exporting firms to undertake dumping in these economies. We show that dumping may be due to...

Persistent link: https://www.econbiz.de/10005765640

Heterogeneity in Exchange Rate Expectations: Evidence on the Chartist-Fundamentalist Approach

Menkhoff, Lukas; Rebitzky, Rafael R.; Schröder, Michael - CESifo - 2008

This paper examines heterogeneity in exchange rate expectations. Whereas agents’ heterogeneity is key in modern exchange rate models, evidence on determinants of heterogeneity is weak so far. Our sample, covering expectations from about 300 forecasters over 15 years, shows remarkable time...

Persistent link: https://www.econbiz.de/10005765679

China’s Exchange Rate and International Adjustment in Wages, Prices, and Interest Rates: Japan Déjà Vu?

McKinnon, Ronald Ian; Schnabl, Gunther - CESifo - 2006

China keeps its exchange rate tightly fixed to the dollar. Its productivity growth and trade surplus have been high, and it continues to accumulate large dollar reserves. Many observers take this as evidence that the renminbi is undervalued and should be appreciated to reduce the Chinese trade...

Persistent link: https://www.econbiz.de/10005765836

Exchange Rate Pass-Through in the Deflationary Japan: How Effective is the Yen’s Depreciation for Fighting Deflation?

Fujii, Eiji - CESifo - 2004

idea of generating inflation via depreciation relies on the assumption that exporters pass-through most of the effect of …

Persistent link: https://www.econbiz.de/10005766039

The Impact of Monetary and Commodity Fundamentals, Macro News and Central Bank Communication on the Exchange Rate: Evidence from South Africa

Egert, Balazs - CESifo - 2009

-lived effects on the exchange rate of selected macroeconomic surprises and central bank communication aimed at talking up the rand. …

Persistent link: https://www.econbiz.de/10005000381