This paper analyses the performance of real estate securities and their relationship to other asset classes as well as to consumer price inflation in an international comparison over the period from 1990 to 2004. The analysis focuses on the long run relationships, applying three different...

By means of an event study of stock market reactions to the announcement of the Olympic Games host cities, we find a significant and positive announcement effect of hosting the Summer Games, with a cumulative abnormal return of about 2% within a few days. We do not find any significant results...

This paper analyses the performance of real estate securities and their relationship to other asset classes as well as to consumer price inflation in an international comparison over the period from 1990 to 2004. The analysis focuses on the long run relationships, applying three different...

By means of an event study of stock market reactions to the announcement of the Olympic Games host cities, we find a significant and positive announcement effect of hosting the Summer Games, with a cumulative abnormal return of about 2% within a few days. We do not find any significant results...

We investigate the misuse of R&D subsidies and evaluate its consequences for policy effectiveness. Developing a theoretical framework and using Chinese firm-level data for 2001-2011, we identify that 42% of grantees misappropriated R&D subsidies for non-R&D purposes, accounting for 53% of total...

Numerous studies have evaluated the effect of nutrition early in life on health much later in life by comparing individuals born during a famine to others. Nutritional intake is typically unobserved and endogenous, whereas famines arguably provide exogenous variation in the provision of...

Applying a differences-in-differences strategy, I study the decentralization of university admission as a natural experiment. Is the centralized or decentralized procedure better suited to match prospective students to universities? The analysis uses administrative data on all students within...

Unter dem Stichwort "Patchwork-Biografien" wird die Tatsache, dass ein großer Teil der abhängig Beschäftigten ihren erlernten Beruf nicht mehr ausüben, in jüngster Zeit viel diskutiert. Diese Studie liefert einen empirischen Beitrag zur Anatomie der Berufswechsel für westdeutsche Männer...