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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

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

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

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

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

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

Globalization, economic freedom and human rights

Dreher, Axel; Gassebner, Martin; Siemers, Lars - 2010

Using the KOF Index of Globalization and two indices of economic freedom, we empirically analyze whether globalization and economic liberalization affect governments ́respect for human rights using a panel of 106 countries over the 1981-2004 period. According to our results, physical integrity...

Persistent link: https://www.econbiz.de/10008667610

Does membership on the UN security council influence IMF conditionality?

Dreher, Axel; Sturm, Jan-Egbert; Vreeland, James Raymond - 2010

We investigate whether elected members of the United Nations Security Council receive favorable treatment from the International Monetary Fund (IMF), analyzing panel data on the level of conditionality attached to (a maximum of) 314 IMF arrangements with 101 countries over the period of 1992 to...

Persistent link: https://www.econbiz.de/10003980061

On the relation between income inequality and happiness : do fairness perceptions matter?

Bjørnskov, Christian (contributor); … - 2010

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/10003919804

The spread of anti-trafficking policies : evidence from a new index

Cho, Seo-Young; Dreher, Axel; Neumayer, Eric - 2010

We analyze the spread of policies dealing with international trafficking in human beings. Arguing that countries are unlikely to make independent choices, we identify pressure, externalities and learning or emulation as plausible diffusion mechanisms for spatial dependence in anti-trafficking...

Persistent link: https://www.econbiz.de/10008860407