This article analyses value changes of German stock market companies in response to movements of the US dollar. The approach followed in this work extends the standard means of measuring exchange rate exposure in several ways (e.g. by using multi-factor modelling instead of augmented CAPM,...

Previous empirical studies of job creation schemes in Germany have shown that the average effects for the participating individuals are negative. However, we find that this is not true for all strata of the population. Identifying individual characteristics that are responsible for the effect...

In der vorliegenden Arbeit wird die Reaktion des DAX auf makroökonomischen Konjunkturmeldungen in Form von Veröffentlichungen des ZEW-Finanzmarkttests untersucht. Zur Messung der Reaktion stehen die 15- Sekunden-Intraday-Realisationen des XDAX zur Verfügung. Die mittels Vergleich von...

Our study is based on the traditional Becker-Ehrlich deterrence model, but we analyse the model in the face of currently discussed factors of crime like demographic changes, youth-unemployment and income inequality. We use a panel of the German Laender (states) that allows us to exploit...

The rising trends both in drug addiction and crime rates are of major public concern in Germany. Surprisingly, the economic theory of crime seems to ignore the drugs?crime nexus, whereas the criminological literature considers illicit drug use a main reason of criminal activities. This paper...

Der vorliegende Aufsatz untersucht den Einfluss von Aufsichtsratsvernetzungen auf die Entwicklung der Vorstandsbezüge von DAX-Unternehmen. Die kombinierte Anwendung von Methoden der sozialen Netzwerkanalyse und der Panelökonometrie erleichtert die Erfassung der Struktur der...

Based on a theoretical framework on custodial and non-custodial sentencing, the paper provides econometric tests on the effectiveness of police, public prosecution and courts. Using a unique dataset covering German states for the period 1977-2001, a comprehensive system of criminal prosecution...

In this paper data from a survey of 1,771 inmates conducted in 31 German prisons provide microeconometric evidence on the relationship between individual anticipated labour market opportunities and the perceived probability of future recidivism. Results show that inmates with poor labour market...