Volunteering plays a prominent role in the charitable provision of goods and services, yet we know relatively little about why individuals spend time and money to the charity. Assuming that volunteering is a consumption good, we analyze the determinants of individuals’ charitable cash...

This study puts the monetary transmission process in the eurozone between 2003 and 2011 under closer scrutiny. For this purpose, we investigate the interest rate pass-through from money market to various loan rates for up to twelve countries of the European Monetary Union. Applying different...

This paper provides an efficient way to generate a set of random choices on a set of budgets which satisfy the Generalised Axiom of Revealed Preferences (GARP), that is, they are consistent with utility maximisation. The choices are drawn from an approximate uniform distribution on the...

This paper studies the effect of parenthood timing on future wages. Using data from the German Socio-Economic Panel (SOEP), we employ an instrumental variable approach to identify the causal effect of delaying parenthood on wages of mothers and fathers. Consistent with previous studies, we...

Monetary policy rules have been considered as fundamental protection against inflation. However, empirical evidence for a correlation between rules and inflation is relatively weak. In this paper, we first discuss likely causes for this weak link and present the argument that monetary commitment...

The present paper explores the link between poverty as capability deprivation and current life satisfaction. Using German panel data, I examine both whether capability deprivation does hurt and whether individuals eventually adapt. To detect capability deprivation I suggest relying on the...

In this paper we use the frequency domain Granger causality test of Breitung/Candelon (2006) to analyse short- and long-run causality between energy prices and prices of food commodities. We find that the oil price Granger causes all the considered food prices. However, when controlling for...

We propose an alternative way of estimating Taylor reaction functions if the zero-lower-bound on nominal interest rates is binding. This approach relies on tackling the real rather than the nominal interest rate. So if the nominal rate is (close to) zero central banks can influence the inflation...

Since their first implementation in 2000, the PISA studies have attracted public attention and spurred the demand for institutional changes in schooling systems. The introduction of standardized student tests and of incentives for schools and teachers are notable examples of such institutional...