bluuebunny/crossref_metadata_2025_split huggingface dataset:
Measuring the Knowledge Economy – Intangible Spending and Investment in Germany
Authors: Berger Florian 
Published: April 2016

Summary
Intangible assets are largely ignored by the “traditional” System of National Accounts (SNA), although they play an increasingly important economic role. The reasons for this are the substantial measurement and valuation problems. This article applies a methodology based on Hulten (1979) and Corrado et al. (2005) to provide some indications on the amount of investment in intangible goods in the German economy. I discuss the proposed categorization approach and quantify the different components for the German economy, drawing on a number of different data sources. I show that the amount of investment in intangibles is significant. An inclusion into the SNA would add around Euro 142.4 bn to total investment in the German economy in 2004. This corresponds to an increase of almost 70%. However, an international comparison shows that Germany falls short in terms of intangible spending relative to the US and UK.
Armut im Alter – Ursachenanalyse und eine Projektion für das Jahr 2023
Authors: Kumpmann Ingmar , Gühne Michael , Buscher Herbert S. 
Published: April 2016

Summary
Several factors bring about a rise in old age poverty in Germany, especially in East Germany. Using data from the German Socio-economic Panel (SOEP) we examine causes and extent of old age poverty in Germany. We begin our inquiry with a cross section regression in order to determine the impact of several factors on retirement incomes in Germany. In the second step we performan income projection of today’s 50 to 55 year-old people for the year 2023. In doing so, we take into account different sources of income, including several forms of capital income and the calculated rent of owner-occupied houses and flats.We find a significant rise in old age poverty especially in East Germany as a consequence of rising unemployment after the German unification.
Der Coupon-Handelsansatz als Modell für eine subjektbezogene Finanzierung der Kinderbetreuung / The Coupon Trading Approach as a Model for a Subject-based Financing System of Early Childhood Education and Care Services
Authors: Egbert Henrik , Hildenbrand Andreas 
Published: April 2016

Summary
Improving early childhood education and care (ECEC) services is one of the challenging duties of public authorities in Germany.We think that inefficiency with respect to the quantity as well as the quality of ECEC services is caused by the prevalent object-based financing system. In this article, we tackle the issue by providing a positive analysis to the ongoing discussion about the future of publicly financed ECEC services. We present a model of a subject-based financing system for ECEC services with tradable vouchers. On the basis of this model, it is shown that by introducing tradable vouchers a more efficient allocation of resources is possible. Further, the model indicates that tradable vouchers also improve the quality of ECEC services.
Are the Real Exchange Rates of the New EU Member Countries in Line with Fundamentals? – Implications of the NATREX Approach
Authors: Frenkel Michael , Koske Isabell 
Published: April 2016

Summary
This paper derives equilibrium real exchange rates for the EU member countries that joined in 2004 and in 2007. Our analysis is based on the natural real exchange rate approach and uses data for the period 1980-2007. We employ a two-step estimation strategy to deal with the limited availability and reliability of data from these countries. We first estimate the model for a panel of 17 OECD countries and then apply the estimated relationship to the new EU member countries. While the model does not support the appreciation of some of the examined currencies in 2005-2007, the development of several other currencies of the CEECs appears to be fairly in line with our NATREX estimates.
The Employment of Mothers – Recent Developments and their Determinants in East and West Germany
Authors: Hanel Barbara , Riphahn Regina T. 
Published: April 2016

Summary
We apply German Mikrozensus data for the period 1996 to 2004 to investigate the employment status of mothers. Specifically, we ask whether there are behavioral differences between mothers in East and West Germany, whether these differences disappear over time, and whether there are differences in the developments for high vs. low and medium skilled females. We find substantial differences in the employment behavior of East and West German mothers. German family policy sets incentives particularly for low income mothers not to return to the labor market after birth. East German mothers’ employment outcomes matches that expected based on these policy incentives: over time East German mothers with low earnings potentials appear to adopt West German low employment patterns.
Empirical Evidence on the “Never Change a Winning Team” Heuristic
Authors: Nüesch Stephan , Haas Hartmut 
Published: April 2016

Summary
“Never change a winning team” is a well-known heuristic that recommends not altering the composition of successful teams. Using game-level observations of the highest German soccer league over a period of seven seasons, we find that the number of changes in the starting line-up is significantly lower after wins than after losses, taking suspensions and unobserved team heterogeneity into account. We show that teams of coaches who follow the heuristic do not win significantly more often, and that coaches significantly decrease the number of changes in the starting line-up even after wins caused by the exogenous home field advantage. These results provide first suggestive evidence that coaches may be influenced by behavioural concerns when following the heuristic to not change winning teams.
A Market’s Reward Scheme, Media Attention, and the Transitory Success of Managerial Change
Authors: Süssmuth Bernd , Wagner Stefan 
Published: April 2016

Summary
Against the background of growing media interest in professional soccer, this paper proposes a moral hazard model with costly state verification to explain how rule changes affecting the reward scheme of team performance impact on the success of managerial change. As has been shown recently based on four decades of data from the German soccer premiership by Wagner (2010), the incentive change in professional soccer leagues enacted by the FIFA in 1995/96 rendered the drastic measure of firing a coach a more efficient instrument in the clubs’ striving for success. In contrast to existing approaches, our model by accommodating the role of media interest is able to jointly explain (i) the impact of introducing an asymmetric reward scheme, (ii) of managerial turnover and (iii) of the perceived degree of ambition of a club on the athletic output of the team. It is shown that the rule change induces a higher agency cost, which is temporarily economized by clubs that change their management. This cost reducing effect temporarily enhances the efficiency of generating athletic output for top league clubs.
Employment Effects of the 2002 Winter Olympics in Salt Lake City, Utah
Authors: Baumann Robert , Engelhardt Bryan , Matheson Victor A. 
Published: April 2016

Summary
Local, state, and federal governments, along with the Salt Lake City Organizing Committee, spent roughly $1.9 billion in planning and hosting the 2002 Winter Olympic Games. Event promoters suggested that the Games would increase employment in the state by 35,000 job-years. We investigate whether the 2002 Winter Olympics actually increased employment finding that the Games’ impact was a fraction of that claimed by the boosters.While the Salt Lake City Olympics did increase employment overall by between 4,000 and 7,000 jobs, these gains were concentrated in the leisure industry, and the Games had little to no effect on employment after 12 months.
The Optimal Size of German Child Care Centers and the Impact of Regulation: Estimating the Cost Function of a Regulated Multi-Product Firm
Authors: Bönisch Peter , Tagge Sven 
Published: April 2016

Summary
Using a unique data set on German child care centers, we estimate a long-run multi-product cost function for child care provision in Germanywhile taking into account legal minimal labor input restrictions. For a representative child care center we find economies of scale, a U-shaped average cost curve, and indications of diseconomies of scope. The legally stipulated minimum child-to-staff ratio is manifested in a positive Lagrange multiplier, showing that modeling legal restrictions is necessary to avoid misspecification error. Our study provides a useful tool for policymakers in estimating the effects of future demographic change on child care costs.
Eine verteilungspolitische Beurteilung aktueller Reformkonzepte zur deutschen Einkommensbesteuerung / A Distributional Analysis of Recent Reform Proposals on the German Income Tax Rate
Authors: Struch Georg 
Published: April 2016

Summary
The present paper investigates potential fiscal and distributional effects which emerge due to four reform scenarios on the German income tax rate. The analysis is based on a static simulation model for the German tax system using income tax micro-data. The data shows that changing the present progressive tax system to a flat-tax, which was proposed by the FDP in 2010, could reduce the tax revenue by 15 billion Euro. Such a tax regime would increase the unequal distribution and polarisation of net incomes. The IW Köln suggested an alternative tax rate in 2008. This regime would increase unequal distribution and polarisation of disposable incomes to a greater extent than the FDP-tax rate. An implementation of this income tax scale would go along with losses in tax revenue of 18.8 billion Euro. Likewise, the implementation of a 2009 SPD tax rate proposal would reduce tax revenue by 14.8 billion Euro. Although this regime would reduce unequal distribution, the effect on the polarization of disposable incomes is not definitely predictable. In contrast to all the other scenarios, the realisation of the recent SPD tax rate proposal from 2011 could enlarge tax revenue by 4.7 billion Euro. This tax regime would reduce unequal distribution and polarisation of disposable incomes even more than the present tax system.
Social Learning Theory, Cigarette Taxes and Adolescent Smoking Behavior
Authors: Ali Mir M. 
Published: April 2016

Summary
In this paper we evaluate the effectiveness of cigarette taxes as a mechanism to reduce smoking rates among adolescents. In our model, we categorize individuals by their smoking frequencies and intensities instead of relying on the widely used dichotomous measure of smoking. Using data of a nationally representative sample of adolescents, we use an endogenity corrected model with school-level fixed effects to obtain our estimates. Moving beyond the conventional definition of smoking to a definition that recognizes the complex nature of addiction by categorizing smoking into various stages and also by controlling for peer and family effects together, we learn that adolescents are not necessarily the most responsive to taxes. Influence from peers and family plays a more significant role in influencing adolescent smoking.
FIRE for the Euro: A Superior Way to Bond Market Stabilization
Authors: Heinemann Friedrich 
Published: April 2016

Summary
Government bond markets within the euro zone may have fallen victim to a self-fulfilling crisis of confidence. Eurobonds may contribute to stabilization in the short-run but would imply destructive disincentives and incalculable risks for joint and several guarantors. Monetary interest rate equalization through the ECB government bond purchase program poses risks for central bank credibility and price stability. This contribution proposes fiscal interest rate equalization (FIRE) as an alternative. With FIRE, countries that benefit from low interest rates as a consequence of market panics would transfers some of their savings to subsidize the borrowing of crisis countries within a conditional fiscal scheme. The paper presents FIRE’s principles and discusses its advantages over alternative stabilization approaches. Furthermore, a simulation of a FIRE specification is presented which would shield Italy and Spain against interest rates above 5 percent.
Schumpeter, Marshall, and Neo-Schumpeterian Evolutionary Economics
Authors: Rahmeyer Fritz 
Published: April 2016

Summary
The focus of evolutionary economics is a process of continuous and irreversible economic and organizational change over time. Currently there is no agreement on the explanation of economic evolution.
From the perspective of the history of economic thought, at first the theoretical approaches of Schumpeter and Marshall with regard to economic development or evolution are dealt with in detail. For both authors technical and economic innovations are the engine of economic change. According to Schumpeter, they are created through newly established firms as the agents of change. For Marshall, innovations and economic development are a side effect of the manufacturing process and the division of labour. Technical and economic changes go off both gradually (Marshall) or discontinuously (Schumpeter).
After that, a concept of neo-Schumpeterian evolutionary economics is elaborated. Evolution is understood as a process of change that leads to the adaptation of complex systems, the result of the causal interaction between variation, selection and retention of variety leading to continuity over time. It has gained wide application to the theory of innovation and later to resource-based theories of the firm. Modern evolutionary economics includes the determinants of new knowledge and innovations into its analysis. Business enterprises not only follow their routine behaviour, in a dynamic view they also show capabilities to restructure their given resources and to build new ones. To sum up, technical and economic evolution are both the result of the unintentionalmarket selection through competitive forces of the environment, and of the intentional, voluntary entrepreneurial choices, based on the firm’s resources and dynamic capabilities.
Oil Price Dynamics and Monetary Policy in a Heterogeneous Monetary Union
Authors: Clausen Volker , Wohltmann Hans-Werner 
Published: April 2016

Summary
This paper analyzes the dynamic effects of oil price increases in a small two-country monetary union with asymmetric wage adjustment equations. Common oil price shocks lead during the adjustment process to temporary divergences in output and inflation and also to reversals in the relative cyclical position across the monetary union. We distinguish between three types of oil price shocks: (1) an unanticipated permanent shock, (2) an unanticipated temporary shock and (3) an anticipated permanent shock.We illustrate the macroeconomic effects of these shocks by means of dynamic simulations and examine the respective stabilization role of monetary policy. While permanent oil price hikes always lead to stagflation, temporary shocks are associated with deflation in the very short run as the reduction of real income lowers the demand for the domestically produced good. The implications for monetary policy are also shock-specific. Monetary policy faces a signal extraction problem as it needs to determine whether oil price shocks are transitory or permanent in order to make appropriate decisions not only about the strength, but also the direction of monetary policy.
Körperschaftsbesteuerung und Unternehmensverschuldung: Evidenz aus einem Europäischen Firmenpanel / Capital Structure and Corporate Taxation: Empirical Evidence from European Panel Data
Authors: Stöckl Matthias , Winner Hannes 
Published: April 2016

SummaryThis paper analyzes the impact of corporate taxation on a firm’s debt policy. We contribute to the existing literature in two ways: (i) we explicitly model persistence in the debt-to-asset ratio, and (ii) we incorporate firm heterogeneity with respect to firm size and legal form. Empirically, this implies the use of dynamic panel data econometrics.We employ a panel of about 110,000 firms from 22 countries of the European Union between 1999 and 2007. First, we find that capital structures exhibit a substantial degree of persistence over time. Second, and in line with theoretical expectations, we find that the debt ratio is positively affected by the statutory corporate income tax rate. Specifically, we observe a marginal effect of around 0.3 in our baseline specification, translating into a short-run (long-run) elasticity of about 0.2 (0.3-1.5). Finally, our empirical results show that large firms react more sensitively to the incentives of corporate taxation, while this effect is smaller for public limited companies.
Demand for Live Orchestral Music – The Case of German Kulturorchester
Authors: Zieba Marta , O’Hagan John 
Published: April 2016

Summary
This paper estimates a demand function for orchestras in Germany and in the process provides estimates of the impact of various determinants of demand for live orchestral music. Price and income are shown to be highly significant as are the quality factors included. The price elasticity is around -0.3 indicating price-inelastic demand and the income elasticity roughly 1.0 which is shown to be the net effect of two opposing forces, a gross income effect and a price-of-leisure effect. Additionally, two objective output characteristics which can positively influence concert attendance are examined. This analysis was undertaken by applying an exceptionally large panel data set for 79 orchestras over the period from 1972 to 2004 (1,313 observations). No previous study of orchestra demand was based on such a rich data set, nor used such a range of extensive variables. Some policy implications are considered in the concluding section.
Monetary Theory and Monetary Policy: Reflections on the Development over the last 150 Years
Authors: Issing Otmar , Wieland Volker 
Published: April 2016

Summary
In this paper, we provide some reflections on the development of monetary theory and monetary policy over the last 150 years. Rather than presenting an encompassing overview, which would be overambitious, we simply concentrate on a few selected aspects that we view as milestones in the development of this subject.We also try to illustrate some of the interactions with the political and financial system, academic discussion and the views and actions of central banks.
Inter-industrial Relations and Sectoral Employment Development in German Regions
Authors: Kowalewski Julia 
Published: April 2016

Summary
This paper analyses the impact of cluster structures on employment development in Germany according to the hypothesis of Porter (1998). It develops a new way of measuring the co-location of suppliers and buyers of intermediate goods in a region based on an input-output approach. The resulting indicator is implemented in a shift-share regression in order to analyse the importance of input-output linkages for the employment development in individual industries. One advantage of this approach is that the results can be compared to earlier studies on localization advantages according to Marshall (1890).
The results show that the availability of suppliers and customers in the same region was a major engine for job creation in specific industries in the past. In the period 1998 to 2007 this was particularly observed for service sectors, such as Air Transport or Health and Social Work but also for some manufacturing industries as well as for Agriculture and Construction. It becomes apparent from the comparison with earlier findings that agglomeration advantages are not realizable within a single industry. Positive effects rather result from the right composition of different industries that have the possibility to establish common production chains. However, for a lot of industries the intensity of inter-industrial interdependence did not play a significant role for their employment development.
Ein nutzungskostenbasierter Ansatz zur Messung des Faktors Kapital in aggregierten Produktionsfunktionen / A User Cost Approach to Capital Measurement in Aggregate Production Functions
Authors: Knetsch Thomas A. 
Published: April 2016

Summary
A method is proposed to measure capital services in production. This means that productive assets are weighted according to their user costs. The user costs of the individual asset classes are estimated based on data from the national accounts and other sources. The results show that, in the observation period between 1991 and 2011, enterprises’ capital services expand faster than the officially published capital stock. For the economy as a whole, this applies only to phases of cyclical expansion. As the capital stock is aggregated using asset prices, the differences can be explained by the different weighting methods in conjunction with the varying speeds at which the individual asset types have accumulated over time. In growth accounting, different estimates of total factor productivity emerge. The methodological difference, however, does not significantly affect the estimates of parametric production function specifications.
Modified Scheffé’s Prediction Bands
Authors: Staszewska-Bystrova Anna 
Published: April 2016

Summary
The formula for the Scheffé prediction bands proposed by Jordà and Marcellino (2010) is reconsidered. It is demonstrated, that in many cases of practical interest, the bands fail to satisfactorily approximate the uncertainty associated with a path-forecast. A modification of the Scheffé method is proposed which improves the coverage properties of the bands.
Die ökonomische Bewertung kleiner Reisezeiteinsparungen / The Economic Valuation of Small Travel Time Savings
Authors: Obermeyer Andy , Wieland Bernhard , Evangelinos Christos 
Published: April 2016

Summary
Travel time savings are usually the most important utility component in transport infrastructure project evaluation. One of the controversial issues in research on the valuation of travel time savings is the assessment of small time savings. This article goes into this matter with specific focus on indifference thresholds in discrete choice models. Our research shows, if such thresholds exist, valuation of time savings should be differentiated according to the size of the time saving. In particular, small time savings should be valued at a lower rate than large ones. Consequences and criticism regarding this procedure are discussed. We find similarities to the currently applied evaluation methodology in the German Federal Infrastructure Plan.
Zusatzbeiträge in der Gesetzlichen Krankenversicherung / Income-independent Surcharges in German Statutory Health Insurance
Authors: Kallweit Manuel , Kohlmeier Anabell 
Published: April 2016

Summary
Expenditure of the German statutory health insurance scheme will increase significantly in the future. In order to keep the system financially sound, current law plans to levy income independent surcharges. These will be complemented by a tax-financed social compensation scheme. In this paper, we analyse the effects of such surcharges on revenue on Germany’s statutory health insurance using a general equilibrium model with overlapping generations. Afterwards, we further develop the surcharges up to a flat rate employee contribution and ascertain their financial consequences and their employment and growth effects. The allocative effects of such a further development are positive. They will be more considerable if the introduction begins earlier and ends quickly. A moderate expenditure increase and a smaller shape of the compensation scheme will intensify these effects.