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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 cards,...
Persistent link: https://www.econbiz.de/10013105143
This paper is concerned with tax-planning strategies of multinational corporations. A theoretical analysis discusses the choice of the capital structure in a setting where intercompany loans can be used to shift profits to low-tax countries. Empirical evidence is provided using micro-level panel...
Persistent link: https://www.econbiz.de/10013317154
of migrants to four countries, viz. France, Germany, the UK and the US, which receive a substantial share of all …
Persistent link: https://www.econbiz.de/10012769704
We explore the impact of an EU-wide nuclear phase-out by 2030 provided the EU energy and climate policy for 2030 is implemented. Using a numerical simulation model of the European energy industry (LIBEMOD), we find that a complete nuclear phase-out in Europe by 2030 has a moderate impact on...
Persistent link: https://www.econbiz.de/10013020510
Using high-frequency transaction data for the three largest European markets (France, Germany and Italy), this paper … (fall) and liquidity falls (increases) buy (sell) orders tend to prevail. Risk-averse market-makers, with inventory …-depletion risk being their main concern, tend to quote wider (narrower) spreads when they think bond appreciation is more (less …
Persistent link: https://www.econbiz.de/10013094028
including monthly stock price indices for five EU countries (Germany, France, the Netherlands, Ireland and the UK) as well as …
Persistent link: https://www.econbiz.de/10013095490
I investigate the contribution of pharmaceutical innovation to recent longevity growth in Germany and France. First, I …-adjusted mortality rates of residents of Germany, using longitudinal, annual, state-level data during the period 2000-2007. The estimates …-adjusted cancer mortality rates of residents of France, using longitudinal, annual, cancer-site-level data during the period 2002 …
Persistent link: https://www.econbiz.de/10013069689
concludes with an empirical application to consumer price inflation in Germany, France and Italy, and re-examines the extent to … Carlo experiments, where we also study the estimation of the aggregate effects of micro and macro shocks. The paper …
Persistent link: https://www.econbiz.de/10013038262
We review and interpret the main theoretical developments in the gravity literature from its very early, a-theoretical applications to the latest structural contributions. We also discuss challenges and implement methods to estimate empirical gravity equations. We finish with a presentation and...
Persistent link: https://www.econbiz.de/10012960473
's level of CT is systematically related to terrorism. We introduce a simple theoretical framework, suggesting that terrorism … countries from 1970-2014, we find evidence for these predictions: Terrorism peaks at intermediate ranges of CT and corresponding …
Persistent link: https://www.econbiz.de/10012852045