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Interpreting implied risk-neutral densities
Hördahl, Peter; Vestin, David - 2003
This paper examine differences between risk-neutral and objective probability densities of future interest rates. The identification and quantification of these differences are important when risk-neutral densities (RNDs), such as option-implied RNDs, are used as indicators of actual beliefs of...
Persistent link: https://www.econbiz.de/10009635905
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Efficient revenue sharing and upper level governments : theory and application to Germany
Büttner, Thiess; Hauptmeier, Sebastian; Schwager, Robert - 2006
in Germany. The results suggest that attempts of state level governments to extract fiscal resources from the local …
Persistent link: https://www.econbiz.de/10010261409
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Macroeconomic aspects of structural labor market reforms in Germany
Dovern, Jonas; Meier, Carsten-Patrick - 2006
Using a newly constructed macroeconometric model for Germany and the rest of the Euro area, we investigate the … macroeconomic effects of structural labor market reforms in Germany. We find that neither the fact that Germany can no longer pursue … Germany by implementing labor market reforms themselves constitute impediments to successful reforms. Reforms would relative …
Persistent link: https://www.econbiz.de/10010272958
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Commuting, externalities, and the geographical sizes of metropolitan areas
Bode, Eckhardt - 2006
The paper proposes an econometric approach for quantifying jointly the geographical scope of commuting as well as the various forms of agglomeration economies originating from metropolitan centers. Adopting an urban economics perspective, and using land prices to measure their aggregate effects,...
Persistent link: https://www.econbiz.de/10010273114
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Productivity and the product scope of multi-product firms: A test of Feenstra-Ma
Raff, Horst; Wagner, Joachim - 2012
Feenstra and Ma (2008) develop a monopolistic competition model where firms choose their optimal product scope by balancing the profits from a new variety against the costs of cannibalizing sales of existing varieties. While more productive firms always have a higher market share, there is no...
Persistent link: https://www.econbiz.de/10010294493
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New economic geography in Germany: Testing the Helpman-Hanson model
Brakman, Steven; Garretsen, Harry; Schramm, Marc - 2002
In this paper we find evidence that the new economic geography approach is able to describe and explain the spatial characteristics of an economy, in our case the German economy. Using German district data we estimate the structural parameters of a new economic geography model as developed by...
Persistent link: https://www.econbiz.de/10010295495
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Real-time macroeconomic data and ex ante predictability of stock returns
Döpke, Jörg; Hartmann, Daniel; Pierdzioch, Christian - 2006
We report results on the ex ante predictability of monthly excess stock returns in Germany using real-time and revised …
Persistent link: https://www.econbiz.de/10010295798
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Efficient Revenue Sharing and Upper Level Governments: Theory and Application to Germany
Buettner, Thiess; Hauptmeier, Sebastian; Schwager, Robert - 2006
in Germany. The results suggest that attempts of state level governments to extract fiscal resources from the local …
Persistent link: https://www.econbiz.de/10010297521
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Industry-level wage bargaining : a partial rehabilitation ; the German experience
Fitzenberger, Bernd; Franz, Wolfgang - 1999
In order to reduce unemployment, it is often recommended that industry-level wage bargaining in Germany should be …
Persistent link: https://www.econbiz.de/10010297632
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Taxation and unemployment: an applied general equilibrium approach for Germany
Boeters, Stefan; Böhringer, Christoph; Feil, Michael - 2002
This paper presents an applied general equilibrium model for Germany. The model integrates specific labour market …
Persistent link: https://www.econbiz.de/10010298083