Summary This paper adds to the issue of inference regarding potentially nonstationary panels where units are correlated. Recently, it has been proposed to tackle this problem by computing individual p-values and combining them to an overall joint significance. We adopt and illustrate this fairly...

In this paper, we compare three different models, namely the Nelson-Siegel model, the Svensson model and the Diebold-Li model, for the estimation of an intraday yield curve on the Italian interbank credit market e-MID. Using a sample which spans from October 2005 until March 2010, the first...

Baumol's (1967) model of 'unbalanced growth' yields a supply-side explanation for the 'cost explosion' in health care. Applying a testing strategy suggested by Hartwig (2008), a sprawling literature affirms that the 'Baumol effect' has both a statistically and economically significant impact on...

Baumol's (1967) model of 'unbalanced growth' yields a supply-side explanation for the 'cost explosion' in health care. Applying a testing strategy suggested by Hartwig (2008), a sprawling literature affirms that the 'Baumol effect' has both a statistically and economically significant impact on...

Die vorliegende Arbeit untersucht den Zusammenhang zwischen politischen Zyklen und Aktienrenditen in Deutschland. Während sich die bis dato verfügbaren Studien über politisch bedingte Aktienmarktanomalien auf die USA konzentrieren, analysieren wir deren Existenz in deutschen Aktienrenditen....

Credit risk measurement and management become more important in all financial institutions in the light of the current financial crisis and the global recession. This particularly applies to most of the complex structured financing forms whose risk cannot be quantified with com-mon rating...

Gegenstand der Arbeit ist die Qualität von Berufsakademien aus Arbeitgebersicht. Es erfolgt zunächste eine Aufarbeitung der theoretischen Grundlagen für Dienstleistungsqualität, insbesondere aus der Perspektive von Bildungsinstitutionen, insbesondere von Berufsakademien. Anschließend...

A non-stationary regression model for financial returns is examined theoretically in this paper. Volatility dynamics are modelled both exogenously and deterministic, captured by a nonparametric curve estimation on equidistant centered returns. We prove consistency and asymptotic normality of a...

Die vorliegende Studie untersucht, welche Komponenten der Dienstleistungsqualität einen Einfluss auf die Zufriedenheit und Verhaltensabsichten von Mitgliedern in deutschen Reitvereinen haben. Für diese Untersuchung wird ein Strukturgleichungsmodell aufgestellt und das Partial Least...

The globalisation on financial markets and the development of financial derivatives has increased not only chances but also potential risk within the banking industry. Especially market risk has gained major significance since market price variation of interest rates, stocks or exchange rates...