Motivated by the lack of literature linking actual to perceived relative deprivation, this paper assesses the role of visibility in the deprivation of goods and assets vis-à-vis income behind perceptions of relative deprivation. We rely on household survey data that includes unique information...

The European debt crisis has revealed serious deficiencies and risks on a proper functioning of the monetary union. Against this backdrop, early warning systems are of crucial importance. In this study that focuses on euro area member states, the robustness of early warning systems to predict...

In this paper we develop a structural model of female employment and fertility which accounts for intertemporal feedback effects between the two outcomes. We identify the effect of financial incentives on the employment and fertility decision by exploiting variation in the tax and transfer...

We estimate a dynamic structural life-cycle model of employment, non-employment and retirement that includes endogenous accumulation of human capital and intertemporal non-separabilities in preferences. Additionally, the model accounts for the effect of the tax and transfer system on work...

In this paper we use a dynamic structural life-cycle model to analyze the employment, fiscal and welfare effects induced by unemployment insurance. The model features a detailed specification of the tax and transfer system, including unemployment insurance benefits which depend on an...

This paper estimates ordered logit and probit regression models for bank ratings which also include a country index to capture country-specific variation. The empirical findings provide support to the hypothesis that the individual international bank ratings assigned by Fitch Ratings are...

Using new data on 590 Turkish households in Berlin, we investigate the determinants and impact of integration on economic performance. We find that the usual suspects, such as time spent in Germany and education, have positive impact, while networks have no impact on integration. There is strong...

Crowding on public transport (PT) is a major issue for commuters around the world. Nevertheless, economists have rarely investigated the causes of crowding discomfort. Furthermore, most evidence on the costs of PT crowding is based on contingent valuation studies. First, this paper assesses...

International offset certificates trade at lower prices than European Union Allowances (EUAs), although they are substitutes within the EU Emissions Trading System (EU ETS) for CO₂. Firms therefore had a strong incentive to use the cheaper certificates. However, a considerable number of firms...

This paper analyses the determinants of Chinese direct investment (DI) in the European Union (EU). Evidence is based on panel Poisson models drawing on two investment monitors for individual projects. We distinguish between the numbers of greenfield investments (GIs) and mergers and acquisitions...