This paper provides survey evidence on the influence of training on behavioral finance on professional fund managers' perception and investment behavior. In particular, it examines whether "trained" fund managers differ from the "untrained" ones in their perception of markets and themselves as...

This paper introduces wealth-dependent time preference into a simple model of endogenous growth. The model generates adjustment dynamics in line with the historical facts on savings and economic growth in Europe from the High Middle Ages to today. Along a virtuous cycle of development more...

This paper gives an overview of different methodologies related to value chain analysis in the context of environment and trade research. Four major fields of methodologies are identified: Accounting of input-output flows, general computable equilibrium models, econometrics, and global commodity...

We show that information about the counterparty of a trade affects the future trading decisions of individual traders. The effect is such that traders tend to reverse their order flow in line with the better-informed counterparties. Informed traders primarily incorporate their own private as...

We have developed a new test against spurious long memory based on the invariance of long memory parameter to aggregation. By using the local Whittle estimator, the statistic takes the supremum among combinations of paired aggregated series. Simulations show that the test performs good in finite...

Taking into account recent health care reforms in Germany a change of the structure in the provision of HIV health care services seems inevitable. Having this in mind representatives of multiple disciplines met in November 2008 to discuss future health-political and health-economic challenges...

This study examines profits and speculation in the USD/EUR trading of a bank in Germany over a four-month period. Dealing activity at the bank generates profits but speculation does not seem to contribute to this. We find that speculative positions fail to become profitable within a 30-minutes'...

In this paper, we analyze the performance of call centers of financial service providers with two levels of support and a time-dependent overflow mechanism. Waiting calls from the front-office queue flow over to the back office, if a waiting-time limit is reached and at least one back-office...

This paper proposes a new unit root test against a non-linear exponential smooth transition autoregressive (ESTAR) model. The new test is build upon the non-standard testing approach of Abadir and Distaso (2007) who introduce a class of modified statistics for testing joint hypotheses when one...

Does the labeling of tradable products like carpets which have been produced without child labor contribute to decreased vulnerability of poor households and their children? This paper analyzes which factors determine the probability of a child to work in the carpet industry, and examines the...