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Uncertainty about the war in Ukraine: Measurement and effects on the German business cycle

Grebe, Moritz; Kandemir, Sinem; Tillmann, Peter - 2023

We assemble a data set of more than eight million German Twitter posts related to the war in Ukraine. Based on state-of-the-art methods of text analysis, we construct a daily index of uncertainty about the war as perceived by German Twitter. The approach also allows us to separate this index...

Persistent link: https://www.econbiz.de/10014293718

Ukrainekrieg: Was sagen mehr als 8 Mio. Tweets?

Grebe, Moritz; Kandemir, Sinem; Tillmann, Peter - In: Wirtschaftsdienst 103 (2023) 7, pp. 500-502

We collect more than eight million German-language tweets on the war in Ukraine and use a machine learning approach toconstruct a daily index of uncertainty about the war. In an empirical model, we show that fluctuations in uncertainty have strong effectson financial markets and real economic...

Persistent link: https://www.econbiz.de/10014337299

Information exchange in laboratory markets: competition, transfer costs, and the emergence of reputation

Hoffmann, Roman; Kittel, Bernhard; Larsen, Mattias - In: Experimental Economics 24 (2020) 1, pp. 118-142

Public reputation mechanisms are an effective means to limit opportunistic behavior in markets suffering from moral hazard problems. While previous research was mostly concerned with the influence of exogenous feedback mechanisms, this study considers the endogenous emergence of reputation...

Persistent link: https://www.econbiz.de/10014503988

A stock-flow approach to a general theory of pricing

Pilkington, Philip - 2013

The paper seeks to lay out a stock-flow-based theoretical framework that provides a foundation for a general theory of pricing. Contemporary marginalist economics is usually based on the assumption that prices are set in line with the value placed on goods by consumers. It does not take into...

Persistent link: https://www.econbiz.de/10010513048

Investment in financial literacy and saving decisions

Jappelli, Tullio; Padula, Mario - 2011

We present an intertemporal consumption model of consumer investment in financial literacy. Consumers benefit from such investment because their stock of financial literacy allows them to increase the returns on their wealth. Since literacy depreciates over time and has a cost in terms of...

Persistent link: https://www.econbiz.de/10010308561

Welfare Effects of Income Taxation in a Model of Stochastic Growth

Clemens, Christiane; Soretz, Susanne - 1997

This paper analyzes growth and welfare effects of income taxation in a stochastic endogenous growth model with externalities in human-capital accumulation. The government participates in individual income risks by the collection of a flat-rate income tax that affects the mean and the variance of...

Persistent link: https://www.econbiz.de/10010317598

What does it take for a specific prospect theory type household to engage in risky investment?

Hlouskova, Jaroslava; Tsigaris, Panagiotis - 2012

This research note examines the conditions which will induce a prospect theory type investor, whose reference level is set by 'playing it safe', to invest in a risky asset. The conditions indicate that this type of investor requires a large equity premium to invest in risky assets. However, once...

Persistent link: https://www.econbiz.de/10010290978

Uncertainty about the war in Ukraine: Measurement and effects on the German business cycle

Grebe, Moritz; Kandemir, Sinem; Tillmann, Peter - 2023

We assemble a data set of more that eight million German Twitter posts related to the war in Ukraine. Based on state-of-the-art methods of text analysis, we construct a daily index of uncertainty about the war as perceived by German Twitter. The approach also allows us to separate this index...

Persistent link: https://www.econbiz.de/10014374630

Speculative trade and market newcomers

Klishchuk, Bogdan - 2019

Arguing that in the real world relatively optimistic inexperienced investors are prey for relatively pessimistic veteran traders, we formalize this intuitive conjecture as a proven proposition in a simple model. This agreement to disagree leads to a perpetual bubble, in which more experienced,...

Persistent link: https://www.econbiz.de/10012141881

Liquidity and Ambiguity: Banksor Asset Markets

Eichberger, Jürgen; Spanjers, Willy - Alfred-Weber-Institut für Sozial- und … - 2007

face uncertain liquidity needs. The ambiguitythe consumers experience is modeled by the degree of condence in their … additive beliefs. Weanalyze the optimal liquidity allocation and two institutional settings for implementing thisallocation: a … liquidity needs. With increasing ambiguity this preference will be reversed:the asset market is preferred, since it avoids …

Persistent link: https://www.econbiz.de/10005868454