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Local political budget cycles in a federation : evidence from West German cities
Furdas, Marina; Homolkova, Katerina; Kis-Katos, Krisztina - 2015
This paper analyzes the occurrence of political budget cycles in 604 West German cities between 1975 and 2007. Due to the idiosyncratic timing of state and local elections, the budgetary changes before elections at two tiers of the federalist government can be separately estimated and can also...
Persistent link: https://www.econbiz.de/10010472495
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Rapid demographic change and the allocation of public education resources : evidence from East Germany
Kempkes, Gerhard - 2010
We analyse the adjustment of public education spending in response to rapidly decreasing student cohorts in East Germany where birth rates collapsed after German reunification. Previous results from the literature based on data from more stable demographic periods suggest that public resources...
Persistent link: https://www.econbiz.de/10008653396
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Moral hazard and bail-out in fiscal federations : evidence for the German Länder 7 Kirsten H. Heppke-Falk; Guntram B. Wolff
Heppke-Falk, Kirsten H. (contributor);  … - 2007
We identify investor moral hazard in the German fiscal federation. Our identification strategy is based on a variable, which was used by the German Federal Constitutional Court as an indicator to determine eligibility of two German states (Länder) to a bail-out, the interest payments-to-revenue...
Persistent link: https://www.econbiz.de/10003453453
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Rent indices for housing in West Germany 1985 to 1998
Hoffmann, Johannes; Kurz, Claudia - 2002
is some evidence of an understatement of rent inflation in the official rent index for West Germany at the beginning of …
Persistent link: https://www.econbiz.de/10011431145
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Time variation in the tail behaviour of Bund futures returns
Werner, Thomas; Upper, Christian - 2002
constant over time? (iii) If it is not, can we use the tail index as an indicator for financial market risk and does it add … significant heaviness of the tails of the Bund future returns. The tail index is on average around 3, implying the nonexistence of … Zeitablauf konstant? (iii) Kann ein Tail-Index Informationen uber den Grad von Marktunsicherheit liefern, die klassische …
Persistent link: https://www.econbiz.de/10011431786
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International financial competitiveness and incentives to foreign direct investment
Jochem, Axel (contributor) - 2008
In this paper an index of financial competitiveness is calculated that corresponds to the market-to-book ratio of … inflation rates and registered patents have a positive impact on the index. Institutional factors like EMU membership or Anglo …
Persistent link: https://www.econbiz.de/10003794120
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Understanding the technology of computer technology diffusion : explaining computer adoption patterns and implications for the wage structure
Borghans, Lex (contributor); Weel, Bas ter (contributor) - 2008
We review the empirical literature about the implications of the computerization of the labor market to see whether it can explain observed computer adoption patterns and (long-term) changes in the wage structure. Evidence from empirical micro studies turns out to be inconsistent with macro...
Persistent link: https://www.econbiz.de/10003771543
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The coordination channel of foreign exchange intervention : a nonlinear microstructural analysis
Reitz, Stefan (contributor); Taylor, Markt P. (contributor) - 2006
The coordination channel has been proposed as a means by which foreign exchange market intervention may be effective, in addition to the traditional portfolio balance and signaling channels. If strong and persistent misalignments of the exchange rate are caused by non-fundamental influences,...
Persistent link: https://www.econbiz.de/10003304957
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Threshold dynamics of short-term interest rates : empirical evidence and implications for the term structure
Archontakis, Theofanis (contributor);  … - 2007
This paper studies a nonlinear one-factor term structure model in discrete time. The single factor is the short-term interest rate, which is modeled as a self-exciting threshold autoregressive (SETAR) process. Our specification allows for shifts in the intercept and the variance. The process is...
Persistent link: https://www.econbiz.de/10003417530
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Analyse der Übertragung US-amerikanischer Schocks auf Deutschland auf Basis eines FAVAR
Eickmeier, Sandra - 2009
Die vorliegende Arbeit untersucht, wie sich Angebots-, Nachfrage- und geldpolitische Schocks aus den Vereinigten Staaten auf Deutschland übertragen. Dabei wird ein so genanntes factor-augmented vector autoregressive model (FAVAR) auf einen neu zusammengestellten Datensatz mit mehr als 200...
Persistent link: https://www.econbiz.de/10003919815