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A Theory of Price Adjustment under Loss Aversion
Ahrens, Steffen; Pirschel, Inske; Snower, Dennis - Institut für Weltwirtschaft (IfW) - 2014
We present a new partial equilibrium theory of price adjustment, based on consumer loss aversion. In line with prospect theory, the consumers' perceived utility losses from price increases are weighted more heavily than the perceived utility gains from price decreases of equal magnitude. Price...
Persistent link: https://www.econbiz.de/10010886934
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The Effect of Foreign Aid on Income Inequality: Evidence from Panel Cointegration
Herzer, Dierk; Nunnenkamp, Peter - Institut für Weltwirtschaft (IfW) - 2012
This paper examines the long-run effect of foreign aid on income inequality for 21 recipient countries using panel cointegration techniques to control for omitted variable and endogeneity bias. We find that aid exerts an inequality increasing effect on income distribution
Persistent link: https://www.econbiz.de/10010886909
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Determinants of the weight for leisure in preferences
Elgin, Ceyhun; Yucel, Emekcan - Institut für Weltwirtschaft (IfW) - 2013
In this paper, the authors investigate the determinants of weight for leisure in preferences. First, using a dynamic general equilibrium model, they back out the weight for leisure for an unbalanced panel of 52 countries over the period from 1950 to 2009. Then, the authors perform several panel...
Persistent link: https://www.econbiz.de/10010956054
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Islands in trade: Disentangling distance from border effects
Groizard, José Luis; Marques, Helena; Gallego Santana, … - Institut für Weltwirtschaft (IfW) - 2014
There is a well-established literature on border effects covering trade between regions separated by a land border; however that literature has not so far considered the case of regions separated by a sea border. Whilst the former is typically studied as a political border that affects adjacent...
Persistent link: https://www.econbiz.de/10010956055
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A microeconometric analysis of the springboard subsidiary: The case of Spanish firms
Caicedo Marulanda, Carolina; Rodríguez, Mora; James, Jhon - Institut für Weltwirtschaft (IfW) - 2015
This article provides a microeconometric analysis of the distinctive characteristics of springboard subsidiaries that have a positive impact on the subsidiaries' performance. Based on panel data estimations for subsidiaries of European multinational companies with a presence in Spain, the...
Persistent link: https://www.econbiz.de/10011263000
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Costs of Housing Crises: International Evidence
Aßmann, Christian; Hogrefe, Jens; Jannsen, Nils - Institut für Weltwirtschaft (IfW) - 2009
This analysis provides evidence for the costs housing crises induce in terms of GDP growth and under what circumstances these crises are particularly costly. Housing crises are often followed by recessions that are longer and deeper than other recessions. According to empirical estimates,a...
Persistent link: https://www.econbiz.de/10005258422
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Whole-household Migration, Inequality and Poverty in Rural Mexiko
Arslan, Aslihan; Taylor, J. Edward - Institut für Weltwirtschaft (IfW) - 2011
Whole-household migration potentially can alter the results of studies on income inequality based on panel data if it selects on household income. We model whole-household migration and its impacts on income inequality and poverty using a unique, nationally representative household panel data...
Persistent link: https://www.econbiz.de/10009365866
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Exports under the Flicker of the Northern Lights
Kristjánsdóttir, Helga - Institut für Weltwirtschaft (IfW) - 2008
Picture a small open economy in the North Atlantic Ocean, highly dependent on trade with the EU and NAFTA. How important are these trading blocs to the country's exports? How important is the country's location and size, and how do these affect the export sectors? A unique version of the gravity...
Persistent link: https://www.econbiz.de/10005059041
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Inflation Differentials in the Euro Area and Their Determinants - An Empirical View
Zdárek, Václav; Aldasoro, Juan Ignacio - Institut für Weltwirtschaft (IfW) - 2009
investment processes, consumption and the possibility of creating asset bubbles. …
Persistent link: https://www.econbiz.de/10005818771
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Does inflation harm corporate investment? Empirical evidence from OECD countries
Ciżkowicz, Piotr; Rzońca, Andrzej - Institut für Weltwirtschaft (IfW) - 2012
Theoretical models point at various channels of the impact of inflation on corporate investment. This article attempts … corporate investment and inflation on the sample of 21 OECD countries in the years 1960-2005. The obtained negative relationship … relationship: marginal effect on corporate investment is higher at inflation rates between 3 and 5.5 per cent. These results …
Persistent link: https://www.econbiz.de/10010983175