Die Anteile fluktuierender erneuerbarer Stromerzeugung aus Windkraft- und Photovoltaikanlagen steigen in Deutschland und Europa. Ein effizienterer Handel dieser erneuerbarer Energien erfordert flexible Strommärkte. Hierbei können Auktionen einen effizienteren Handel ermöglichen, unter anderem...

This paper examines the idiosyncratic volatility (IV) puzzle in the Indian stock market for the period 1999-2014. Univariate and bivariate sorting, as well as cross-section regressions, suggest a positive relation between idiosyncratic volatility and future stock returns. However, this relation...

This paper evaluates bootstrap inference methods for quantile regression panel data models. We propose to construct confidence intervals for the parameters of interest using percentile bootstrap with pairwise resampling. We study three different bootstrapping procedures. First, the bootstrap...

The instrumental variable quantile regression (IVQR) model (Chernozhukov and Hansen (2005)) is a popular tool for estimating causal quantile effects with endogenous covariates. However, estimation is complicated by the nonsmoothness and nonconvexity of the IVQR GMM objective function. This paper...

The allocation of resources to defence and national security is influenced by several factors, both domestic and external. Empirical findings suggest that military spending is determined by economic, strategic, political, and security factors. Studies that estimate demand functions for such...

In this study, I apply a quantile regression model to investigate how gold returns respond to changes in various financial indicators. The model quantifies the asymmetric response of gold return in the tails of the distribution based on weekly data over the past 30 years. I conducted a...

The arena of strategic competition between the US and China is expandable from international politics, trade and commerce to finance. What would happen if financial sanctions against China are imposed by the US? Would US financial sanctions lead to a sudden outflow of foreign capital and a...

The objective of the article is to carry out a review of the subject of composite indicators, especially that related to the methodological process associated with their construction, detailing and discussing the various steps linked to said process, using the construction of the Competitive...

We present a semiparametric method to estimate group-level dispersion, which is particularly effective in the presence of censored data. We apply this procedure to obtain measures of occupation-specific wage dispersion using top-coded administrative wage data from the German IAB Employment...

We investigate the determinants of the capital structure of Brazilian companies between 2000 and 2009. We use a quantile regression model and compare its results with the ones provided by conventional models (least squares and fixed effects). We show that the effects of the capital structure...