Showing 1 - 10 of 37
We examine how regularly scheduled macroeconomic announcements for the U.S., Germany and the euro area affect the German stock market, using high–frequency, minute–by–minute DAX data. Our study extends the literature on high–frequency announcement effects in several ways. First, we...
Persistent link: https://www.econbiz.de/10010877723
This paper is concerned with empirical and theoretical basis of the Efficient Market Hypothesis (EMH). The paper begins with an overview of the statistical properties of asset returns at different frequencies (daily, weekly and monthly), and considers the evidence on return predictability, risk...
Persistent link: https://www.econbiz.de/10008572494
This article investigates whether the distance between origin and destination has played an increased role in shaping Italy’s domestic tourism flows during the recent years of economic recession. Indeed, the occurrence of closer tourism destinations, as a consequence of the economic crisis,...
Persistent link: https://www.econbiz.de/10011202961
Based on the Canadian National Population Health Survey we estimate the effects of individual sports and exercise on individual labor market outcomes. The data covers the period from 1994 to 2008. It is longitudinal and rich in life-style, health, and physical activity information. Exploiting...
Persistent link: https://www.econbiz.de/10010747213
We consider a simple tournament model in which individuals auto-select into the contest on the basis of their commonly known strength levels, and privately observed strength-shocks (reflecting temporary deviations from observed levels). The model predicts that the participation rate should...
Persistent link: https://www.econbiz.de/10011122687
We show that professional soccer players exhibit reference-dependent behavior during matches. Controlling for the state of the match and for unobserved heterogeneity, we show on a minute-by-minute basis that a player breaches the rules of the game, measured by the referee’s assignment of...
Persistent link: https://www.econbiz.de/10010551016
Can raising awareness of racial bias subsequently reduce that bias? We address this question by exploiting the widespread media attention highlighting racial bias among professional basketball referees that occurred in May 2007 following the release of an academic study. Using new data, we...
Persistent link: https://www.econbiz.de/10010877839
Based on a unique composite dataset measuring heterogeneous sports participation, labour market outcomes and local facilities provision, this paper examines for the first time the association between different types of sports participation on employment and earnings in England. Clear...
Persistent link: https://www.econbiz.de/10010877937
We use a public referendum on a new air traffic concept in Berlin, Germany as a natural experiment to analyze how the interaction of tenure and capitalization effects shapes the outcome of direct democracy processes. We distinguish between homevoters, i.e., voters who are homeowners, and...
Persistent link: https://www.econbiz.de/10010671574
The favorite-longshot bias describes the longstanding empirical regularity that betting odds provide biased estimates of the probability of a horse winning—longshots are overbet, while favorites are underbet. Neoclassical explanations of this phenomenon focus on rational gamblers who overbet...
Persistent link: https://www.econbiz.de/10008572550