Significant changes in climate are already visible globally, and are expected to become more pronounced in the future. These will lead to wide ranging impacts on the natural and man-made environment across different sectors and regions, which in turn will lead to economic costs. These economic...

Mit dem Abschluss der Beitrittsabkommen undihrem Beitritt zur EU am 1. Mai 2004 haben dieneuen Mitgliedstaaten sich auch verpfl ichtet, denEuro als gemeinsame Währung einzuführen. DasDatum hängt jedoch nicht zuletzt davon ab,wann die Neumitglieder die fünf Kriterien (Inflation, Haushaltsdefi...

The competitiveness of formerly state-owned companies in the industrial sector is often regarded as one of the most important prerequisites for a successful completion of the transition process from a centrally planned towards a market economy in East Germany ...

The calibration of option pricing models leads to the minimization of an error functional. We show that its usual specification as a root mean squared error implies fluctuating exotics prices and possibly wrong prices...

Several trade-based measures of product variety have recently been used implicitly torepresent states of technology, promoting long-run growth. In this paper, we define thestate of technology as the range of specialised production processes and propose thevariety of capital goods available for...

This paper addresses the question of when and to what extent individuals are affected by major positive and negative life events, including changes in financial situation, marital status, death of child or spouse and being a victim of crime. The key advantage of our data is that we are able to...

We provide evidence on the match between …rms, managers, and incentives using anew survey that contains information on managers' risk preferences and human capital,on their compensation schemes, and on the …rms they work for. The data is consistentwith the equilibrium correlations predicted by...

Homelessness is still an ever-present problem in many towns and citiesin the UK today. This paper is part of a more in-depth study ofhomelessness and social exclusion. It presents the results of a small-scalestudy which illustrates the range of problems experienced by homelessyoung women and...

The analysis in this paper focuses on the impact of health on the savings andconsumption decisions of the elderly. In principle, there are at least five alternativechannels through which health may affect consumption and savings. Ill health mayaffect both consumption capacities and needs while...

[...]This paper contributes to the identification of adaptive expectations by using ten years of panel data from the British Household Panel Survey to study the process of adaptation based on the individual’s own previous experience. Subjective assessments of financial well-being at time t,...