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Empirical observations show that education helps to protect against labor market risks. This is twofold: The higher educated face a higher expected wage income and a lower probability of being unemployed. Although this relationship has been analyzed in the literature broadly, several questions...
Persistent link: https://www.econbiz.de/10010263735
In times of increasing oil prices and a weak dollar, European companies that focus their business on the US market may find themselves in a weak position. While many businesses can hedge this kind of risk by relocating production to the US, or employing financial remedies, these strategies may...
Persistent link: https://www.econbiz.de/10010263755
The dynamics of hourly electricity prices in day-ahead markets is an important element of competitive power markets that were only established in the last decade. In electricity markets, the market microstructure does not allow for continuous trading, since operators require advance notice in...
Persistent link: https://www.econbiz.de/10010270725
productivity (TFP) growth in a sample of 30 European economies for the period 1994-2005. In most of Western Europe, we find a … deceleration of TFP growth since 2000. However, the economies of New Europe exhibit a higher level of TFP growth overall and have … slowed less than those of Old Europe. In the new market economies of Central and Eastern Europe, we find both high TFP growth …
Persistent link: https://www.econbiz.de/10010270811
default times. The methods presented are used to reproduce the spreads of the iTraxx Europe tranches. We apply hierarchical …
Persistent link: https://www.econbiz.de/10010274189
Pricing kernels play a major role in quantifying risk aversion and investors' preferences. Several empirical studies reported that pricing kernels exhibit a common pattern across different markets. Mostly visual inspection and occasionally numerically summarise are used to make comparison. With...
Persistent link: https://www.econbiz.de/10010274190
The delisting of brands is frequently used by retailers to strengthen their negotiating position with the manufacturers and suppliers of their product assortment. However, retailers and manufacturers have to consider the risk of potential reactions when customers are faced with a reduced or...
Persistent link: https://www.econbiz.de/10010281548
timing. Using data on subjective survival expectations elicited in the Survey of Health, Ageing and Retirement in Europe …
Persistent link: https://www.econbiz.de/10010281598
proxied by the VIX and the iTraxx Europe, respectively. We conduct the analyses for pre-crisis, crisis and post-crisis periods. …
Persistent link: https://www.econbiz.de/10010318778