Der Datenverkehr über das Internet nimmt stark zu. Einerseits steigt die Internet-Nutzung der Individuen mit Webbrowsing, e-mail etc. deutlich an. Andererseits kommen neue und großvolumige Dienste hinzu bzw. gewinnen quantitativ an Bedeutung, z.B. VoiP, Peer to-peer File Sharing,...

Our very simple model serves to illustrate that it is useful to think of corruption as implicit privatisation cum auction, i.e. of the state relegating decision-making authority to a private person, who then auctions the rents off.

In this paper the seasonal unit root test of Hylleberg et al. (1990) is generalized to cover a heterogenous panel. The procedure follows the work of Im, Pesaran and Shin (2002). Test statistics are proposed and critical values are obtained by simulations. Moreover, the properties of the tests...

This paper provides an explanation for the observation that banks hold on average a capital ratio in excess of regulatory requirements. We use a functional approach to banking based on Diamond and Rajan (2001) to demonstrate that banks can use capital ratios as a strategic tool for renegotiating...

Dagenais (1999) and Lucchetti (2002) have demonstrated that the naive GMM estimator of Grogger (1990) for the probit model with an endogenous regressor is not consistent. This paper completes their discussion by explaining the reason for the inconsistency and presenting a natural solution....

In the present paper the effects of different pay-as-you-go pension systems on fertility decisions of a representative household are examined. Thereby, the analysis focuses especially on the interplay of parental quantity and quality decisions, introduced by Becker (1960). As it will be shown, a...

The discussion about the impact of a monetary union on the fiscal stability of individual member countries is largely confined to European Monetary Union and the Stability and Growth Pact (SGP) debate, which in turn tends to focus more on optimal fiscal rules. However, when adding insights from...

In this paper we highlight a data augmentation approach to inference in the Bayesian logistic regression model. We demonstrate that the resulting conditional likelihood of the regression coefficients is multivariate normal, equivalent to a standard Bayesian linear regression, which allows for...

In dieser Arbeit werden die Auswirkungen einer Ersetzung von fehlenden Werten auf das Ergebnis einer Regressionsanalyse untersucht. Grundlage ist eine Untersuchung von Klasen (2000) über die Unterschiede im Zusammenhang zwischen Unterernährung und Kindersterblichkeit in Afrika und Südasien....