This paper provides a comprehensive Monte Carlo comparison of different finite-sample biascorrection methods for autoregressive processes. We consider situations where the process is either mildly explosive or has a unit root. The case of highly persistent stationary is also studied. We compare...

This paper studies the role of conditioning political factors for determining the impact of banking crises on sovereign bond yield spreads for a sample of 33 emerging economies in the period 1995-2010. Accounting for the endogenous nature of banking crisis outbreaks, I find that sovereign bond...

We use a compound option-based structural credit risk model to infer a term structure of banking crisis risk from market data on bank stocks in daily frequency. Considering debt service payments with different maturities this term structure assigns a separate estimator for short- and long-term...

The run-up to the Greek default featured marked increases in the cost of insuring sovereign debt from almost all European countries. One explanation is that market participants believed a default in one country might increase the risk of a future default in another, and so news about one country...

Over the last two decades Indonesia has experienced a significant decline in fertility rates and substantial increases in the level of education of women. Despite this development female labor force participation rates have remained roughly constant throughout this period. This paper explores...

This work refers to analyses of matching processes on occupational labour markets in Germany. Up to now, all studies in this field are based on the crucial assumption of separate occupational labour markets. I outlined some theoretical considerations that occupational markets are probably not...

We study a possible nurture effect of political systems on the evolution of gender differences in work preferences by exploiting the 41-year division of Germany and its reunification in 1990 as a natural experiment. We investigate whether disparate political and social systems produced different...

Most German states have reformed university preparatory schooling by reducing duration from 13 to 12 years with unchanged graduation requirements. The reform was implemented in the states during the last decade in several consecutive years. In this paper, we use nationwide data on high school...

This paper uses a clean experiment to investigate the impact of peer observation on the consumption decisions of rural households in Thailand. We find that those groups that observe each other show lower within group standard deviation in their decisions. At the same time, we also find that...

In this study we investigate the minimum wage (MW) effects for a German sub-construction sector where the MW bites extraordinary hard by international standards. Within a quasi-experiment we estimate the Quantile Treatment Effects of the MW on the conditional and unconditional distribution of...