Gute Klimapolitik muss kosteneffizient sein. Konkret bedeutet das, dass sie Unterschiede bei den Vermeidungskosten ausnutzen muss und dass sie die Vermeidung von Schadstoffen dorthin verlagern muss, wo die Kosten minimal sind. Der Emissionshandel ist ein ideales Instrument dafür. Er erlaubt...

This open access book gathers the results of an interdisciplinary research project led by the Swiss Competence Centers for Energy Research (SCCER CREST) and jointly implemented by several universities. It identifies political, economic and legal challenges and opportunities in the energy...

The reduction of greenhouse gas (GHG) emissions, in particular CO2, is a major objective of the German energiewende. There has been broad consensus on this goal for many years now - in contrast to the continuing discussion over the proposed shutdown of Germany’s nuclear power plants. The...

Most bank efficiency studies that use stochastic frontier analysis (SFA) employ each bank's own implicit input price when estimating efficient frontiers. But the theoretical foundation of most studies is a cost minimisation and/ or profit maximisation problem assuming perfect input markets. At...

German banks experienced a merger wave throughout the 1990s. However, the success of bank mergers remains a continuous matter of debate. In this paper we suggest a taxonomy as how to evaluate post-merger performance on the basis of cost efficiency (CE). We categorise mergers a success that...

We investigate the consistency of efficiency scores derived with two competing frontier methods in the financial economics literature: Stochastic Frontier and Data Envelopment Analysis. We sample 34,192 observations for all German universal banks and analyze whether efficiency measures yield...

In this paper we use a simple bureaucracy model of fiscal illusion to analyze the impact of intergovernmental grants on the cost efficiency of local jurisdictions. We find that a higher degree of redistribution within a system of fiscal equalization or an increase in the amount of grants...