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On the economic determinants of optimal stock-bond portfolios : international evidence
Conrad, Christian; Stürmer, Karin - 2017 - This version: May 31, 2017
Using a modified DCC-MIDAS specification that allows the long-term correlation component to be a function of multiple explanatory variables, we show that the stock-bond correlation in the US, the UK, Germany, France, and Italy is mainly driven by inflation and interest rate expectations as well...
Persistent link: https://www.econbiz.de/10011745369
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Read my lips : the role of information transmission in multilateral reform design
Marchesi, Silvia; Sabani, Laura; Dreher, Axel - 2009
We focus on the role that the transmission of information between a multilateral (e.g., the IMF) and a country has for optimal (conditional) reform design. The main result is that the informational advantage of the country must be strictly greater than the advantage of the multilateral in order...
Persistent link: https://www.econbiz.de/10003850746
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The economics of human development and social mobility
Heckman, James J.; Mosso, Stefano - 2014
Persistent link: https://www.econbiz.de/10010258249
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Stimulant or depressant? : resource-related income shocks and conflict
Gehring, Kai; Langlotz, Sarah; Kienberger, Stefan - 2018
We provide new evidence about the mechanisms linking resource-related income shocks to conflict. To do so, we combine temporal variation in international drug prices with new data on spatial variation in opium suitability to examine the effect of opium profitability on conflict in Afghanistan....
Persistent link: https://www.econbiz.de/10011889446
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Geopolitics, aid and growth
Dreher, Axel; Eichenauer, Vera; Gehring, Kai - 2014
We investigate the effects of short-term political motivations on the effectiveness of foreign aid. Specifically, we test whether the effect of aid on economic growth is reduced by the share of years a country has served on the United Nations Security Council (UNSC) in the period the aid has...
Persistent link: https://www.econbiz.de/10010425577
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The home bias in sovereign ratings : conference paper
Fuchs, Andreas; Gehring, Kai - Evidenzbasierte Wirtschaftspolitik <Veranstaltung> <2014> - 2013 - This version: 20 December 2013
Credit rating agencies are frequently criticized for producing sovereign ratings that do not accurately reflect the economic and political fundamentals of rated countries. This article discusses how the home country of rating agencies could affect rating decisions as a result of political...
Persistent link: https://www.econbiz.de/10010480669
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The home bias in sovereign ratings
Fuchs, Andreas; Gehring, Kai - 2013 - This version: 20 December 2013
Credit rating agencies are frequently criticized for producing sovereign ratings that do not accurately reflect the economic and political fundamentals of rated countries. This article discusses how the home country of rating agencies could affect rating decisions as a result of political...
Persistent link: https://www.econbiz.de/10010234188
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On the relation between income inequality and happiness : do fairness perceptions matter?
Bjørnskov, Christian; Dreher, Axel; Fischer, Justina A. V. - 2009
the World Values Survey data and a broad set of fairness measures, we find strong support for the negative (positive …
Persistent link: https://www.econbiz.de/10003944651
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Are "new" donors different? : comparing the allocation of bilateral aid between non-DAC and DAC donor
Dreher, Axel; Nunnenkamp, Peter; Thiele, Rainer - 2010
Major DAC donors are widely criticized for weak targeting of aid, selfish aid motives and insufficient coordination. The emergence of an increasing number of new donors may further complicate the coordination of international aid efforts. On the other hand, new donors (many of which were aid...
Persistent link: https://www.econbiz.de/10003944716
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The costs of favoritism : is politically-driven aid less effective?
Dreher, Axel; Klasen, Stephan; Vreeland, James Raymond; … - 2010
World Bank projects and generally find that projects that are potentially politically motivated - such as those granted to … governments holding a non-permanent seat on the United Nations Security Council or an Executive Directorship at the World Bank … Council members with higher short-term debt, however, a negative quality rating is more likely. So we find evidence that World …
Persistent link: https://www.econbiz.de/10003944718