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Mitigating Liquidity Constraints: Public Export Credit Guarantees in Germany

Felbermayr, Gabriel J.; Heiland, Inga; Yalcin, Erdal - CESifo - 2012

Reportedly, firms often find it impossible to finance large and long-term projects despite positive net present values. Should governments step in and can their assistance be effective? This paper studies the case of public export credit guarantees in Germany. Covering the default risk of...

Persistent link: https://www.econbiz.de/10010877647

Grade Retention and Unobserved Heterogeneity

Gary-Bobo, Robert J.; Gousse, Marion; Robin, Jean-Marc - CESifo - 2014

We study the treatment effect of grade retention, using a panel of French junior highschool students, taking unobserved heterogeneity and the endogeneity of grade repetitions into account. We specify a multi-stage model of human-capital accumulation with a finite number of types representing...

Persistent link: https://www.econbiz.de/10010786743

Program Evaluation and Random Program Starts

Fredriksson, Peter; Johansson, Per - CESifo - 2003

This paper discusses the evaluation problem using observational data when the timing of treatment is an outcome of a stochastic process. We show that, without additional assumptions, it is not possible to estimate the average treatment effect and treatment on the treated. It is, however,...

Persistent link: https://www.econbiz.de/10005766159

Endogenous Borders? The Effects of New Borders on Trade in Central Europe 1885-1933

Heinemeyer, Hans-Christian; Schulze, Max-Stephan; Wolf, … - CESifo - 2008

A large literature on “border effects” in the wake of McCallum (1995) documents the massive impact of borders on trade. However, all these studies suffer from an identification problem. “Border effects” are usually identified from cross-sectional variation alone. We do not know how trade...

Persistent link: https://www.econbiz.de/10005094241

The Effect of Firms' Partial Retirement Policies on the Labour Market Outcomes of their Employees

Huber, Martin; Lechner, Michael; Wunsch, Conny - CESifo - 2013

In this paper, we assess the impact of firms introducing part-time work schemes for gradual labour market exit of elderly workers on their employees’ labour market outcomes. The analysis is based on unique linked employer-employee data that combine high-quality survey and administrative data....

Persistent link: https://www.econbiz.de/10010681219

Seasonality in Smoking Behaviour: Re-evaluating the Effects of the 2005 Public Smoking Ban in Italy

Bono, Emilia Del; Grünberger, Klaus; Vuri, Daniela - CESifo - 2014

This paper investigates the impact of the public smoking ban which came into effect in Italy on January 2005 on individual smoking behaviour. Current empirical evidence supports the existence of a negative effect of the Italian ban on smoking prevalence and consumption in the general population....

Persistent link: https://www.econbiz.de/10011082833

Politics and IMF Conditionality

Dreher, Axel; Sturm, Jan-Egbert; Vreeland, James Raymond - CESifo - 2013

Bailouts sponsored by the International Monetary Fund (IMF) are famous for their conditionality: in return for … finding a measure of political importance that is not plagued by endogeneity and obtaining data on IMF conditionality. We … available dataset on the level of conditionality attached to (a maximum of) 314 IMF arrangements with 101 countries over the …

Persistent link: https://www.econbiz.de/10010877803

The New International Architecture

Dornbusch, Rudi - CESifo - 2002

In 1998 Rüdiger Dornbusch gave the Munich Lectures in Economics entitled “International Financial Crises”. The CES Academic Council awarded him the prize and title “Distinguished CES Fellow” for his outstanding work on the monetary theory of foreign trade.Rüdiger Dornbusch passed away...

Persistent link: https://www.econbiz.de/10005051529

Do IMF and World Bank Influence Voting in the UN General Assembly?

Dreher, Axel; Sturm, Jan-Egbert - CESifo - 2006

Using panel data for 188 countries over the period 1970-2002 this paper empirically analyzes the influence of the IMF … non-concessional IMF programs. Regarding voting coincidence with the US, World Bank (concessional and non …-concessional) loans have a significant impact, while the IMF has not. These results are robust to the inclusion of control variables and …

Persistent link: https://www.econbiz.de/10005181533

The Politics of IMF Forecasts

Dreher, Axel; Marchesi, Silvia; Vreeland, James Raymond - CESifo - 2007

Using panel data for 157 countries over the period 1999-2005 we empirically investigate the politics involved in IMF … find inflation forecasts are systematically biased downwards for countries with greater IMF loans outstanding relative to … GDP, indicating that the IMF engages in “defensive forecasting.” Countries with a fixed exchange rate regime also receive …

Persistent link: https://www.econbiz.de/10005406130