Sample records for PREISE (prices)
from WorldWideScience.org

Sample records 1 - 20 shown. Select sample records:



1

With a Bang, not a Whimper: Pricking Germany's "Stock Market Bubble" in 1927 and the Slide into Depression

Voth, Hans-Joachim

In May 1927, the German central bank intervened indirectly to reduce lending to equity investors. The crash that followed ended the only stock market boom during Germany s relative stabilization 1924-28. This paper examines the factors that lead to the intervention as well as its consequences. We ar...

DRIVER (German)

2

Wind power integration, negative prices and power system flexibility: An empirical analysis of extreme events in Germany

Nicolosi, Marco

This article analyses the flexibility of the German power market with respect to the integration of an increasing share of electricity from renewable energy sources. Flexibility limiting system components, which cause negative prices are explained and illustrated for the German market. Then, the dec...

DRIVER (German)

3

Wind power integration and power system flexibility: An empirical analysis of extreme events in Germany under the new negative price regime

Nicolosi, Marco

This article analyses the flexibility of the German power market with respect to the integration of an increasing share of electricity from renewable energy sources. Flexibility limiting system components, which cause negative prices are explained and illustrated for the German market. Then, the dec...

DRIVER (German)

5

What drives housing prices down?: evidence from an international panel

Kholodilin, Konstantin A.; Menz, Jan-Oliver; Siliverstovs, Boriss

In this study, we suggest an explanation for the alarmingly low growth rates of real housing prices in Canada and Germany in comparison to other OECD countries over 1975-2005. We show that the long-run development of housing markets is determined by real disposable per capita income, real long-term ...

DRIVER (German)

7

Wage Dispersion and Country Price Levels

Lipsey, R. E.; Swedenborg, B.; Conference on Research in Income and Wealth
1999-01-01

German National Library of Science and Technology (GetInfo) (German)

10

Unternehmen im Prime Standard staying public oder going private?: Nutzenanalyse der Börsennotiz

Schanz, Kay-Michael; Richard, Jörg; Schalast, Christoph

The dramatic drop in prices on the German stock exchange in the period from 2000 to 2003 was one cause for the rising number of delistings in Germany. This development triggered the study on the aptitude of listed companies to remain listed although the authors were well aware that a negative conclu...

DRIVER (German)

12

Trend and cycle features in German residential investment before and after reunification

Knetsch, Thomas A.

Real residential investment in Germany is found to be cointegrated with population, real national income per capita and real house prices. This evidence is consistent with a model where the trend in housing demand is determined by demographic factors and economic well-being to which supply adjusts s...

DRIVER (German)

13

Time-varying spot and futures oil price dynamics

Caporale, Guglielmo Maria; Ciferri, Davide; Girardi, Alessandro

We investigate the role of crude oil spot and futures prices in the process of price discovery by using a cost-of-carry model with an endogenous convenience yield and daily data over the period from January 1990 to December 2008. We provide evidence that futures markets play a more important role th...

DRIVER (German)

14

The use of cost accounting methodologies to determine prices in German health care

Schreyögg, Jonas; Tiemann, Oliver; Busse, Reinhard

In many sectors of the health care system, prices at which providers are reimbursed by payers are not determined by the market mechanism, but rather by a defined administrative process. Depending on the sector, prices are set politically and are negotiated between different actors or are calculate...

DRIVER (German)

16

The role of the IFO business climate indicator and asset prices in German monetary policy

Sterken, Elmer

We analyze the role of forward-looking indicators, like the IFO business climate indicator and asset prices, in German monetary transmission. We show that the use of both the IFO indicator and asset prices improves the performance and interpretation of a Vector AutoRegression (VAR) model of German m...

DRIVER (German)

19

The merit-order effect: a detailed analysis of the price effect of renewable electricity generation on spot market prices in Germany

Sensfuß, Frank; Ragwitz, Mario; Genoese, Massimo

The German feed-in support of electricity generation from renewable energy sources has led to high growth rates of the supported technologies. Critics state that the costs for consumers are too high. An important aspect to be considered in the discussion is the price effect created by renewable elec...

DRIVER (German)

22

The globalization of steam coal markets and the role of logistics: an empirical analysis

Zaklan, Aleksandar; Cullmann, Astrid; Neumann, Anne; Hirschhausen, Christian von

In this paper, we provide a comprehensive multivariate cointegration analysis of three parts of the steam coal value chain - export, transport and import prices. The analysis is based on a rich dataset of international coal prices; in particular, we combine data on steam coal prices with freight rat...

DRIVER (German)

23

The effects of reference pricing on ex-factory prices of Rx drugs in Germany : a panel data approach

Augurzky, Boris; Göhlmann, Silja; Greß, Stefan; Wasem, Jürgen

This paper examines effects of reference pricing for prescription drugs in German social health insurance based on econometric panel data methods. We analyze the effect on ex-factory prices. Moreover, we investigate whether manufacturers adapt prices of their products not subject to reference pricin...

DRIVER (German)

24

The cross-section of output and inflation in a dynamic stochastic general equilibrium model with sticky prices

Döpke, Jörg; Funke, Michael; Holly, Sean; Weber, Sebastian

In a standard dynamic stochastic general equilibrium framework, with sticky prices, the cross sectional distribution of output and inflation across a population of firms is studied. The only form of heterogeneity is confined to the probability that the ith changes its prices in response to a shock. ...

DRIVER (German)

26

The World Distribution of Well-being Dissected

Summers, R.; Heston, A.; Conference on Research in Income and Wealth
1999-01-01

German National Library of Science and Technology (GetInfo) (German)

28

The Merit-order effect: A detailed analyis of the price effect of renewable electricity generation on spot market prices in Germany

Sensfuss, F.; Ragwitz, M.; Genoese, M.

The German feed-in support of electricity generation from renewable energy sources has led to high growth rates of the supported technologies. Critics state that the costs for consumers are too high. An important aspect to be considered in the discussion is the price effect created by renewable elec...

DRIVER (German)

32

The Incidence of EU Per-Hectare Payments on Farmland Rental Rates: A Spatial Econometric Analysis for German Farm-Level Data

Breustedt, Gunnar; Habermann, Hendrik

This article analyses determinants for 2001 farmland rental prices from 3,819 farms in Germany. Based on specification tests we estimate a general spatial model to account for both spatial relationships among rental prices of neighbouring farmers and spatially autocorrelated error terms. Depending o...

DRIVER (German)

34

The Forecasting Performance of German Stock Option Densities

Keller, Joachim; Glatzer, Ernst; Craig, Ben R.; Scheicher, Martin

In this paper we will be estimating risk-neutral densities (RND) for the largest euro area stock market (the index of which is the German DAX), reporting their statistical properties, and evaluating their forecasting performance. We have applied an innovative test procedure to a new, rich, and accur...

DRIVER (German)

36

The Effects of the Coffee Trademarking Initiative and Starbucks Publicity on Export Prices of Ethiopian Coffee

Arslan, Aslıhan; Reicher, Christopher

The Ethiopian government initiated the Ethiopian Coffee Trademarking and Licensing Initiative in 2004 for three coffee origins: Sidama, Yirgacheffe and Harar. Following a court case between Starbucks and the Ethiopian government regarding this initiative, Oxfam organized a publicity campaign. This p...

DRIVER (German)

41

Tail Wags Dog? Time-Varying Information Shares in the Bund Market

Upper, Christian; Werner, Thomas

The flow of information between futures and spot prices may vary over time, in particular during periods of stress. This article analyses the information content of the Bund Future and German government bonds during 1998 and test whether it is constant over time. The use of high-frequency data permi...

DRIVER (German)

45

Synchronisation in multi-product firms. Evidence from german grocery prices.

Loy, Jens-Peter; Weiss, Christoph

Using a unique panel data set for German grocery prices we find significant price synchronization within food retail chains as well as within individual food stores (between products). Price synchronization between chains appears to be less pronounced. Common shocks can only explain some synchroniza...

DRIVER (German)

46

Supply-side effects of strong energy price hikes in German industry and transportation

Knetsch, Thomas A.; Molzahn, Alexander

The paper studies the short-term effects of energy price hikes on the supply of industrial goods and transport services including the repercussions on remuneration of input factors. While industry had suffered more strongly from the oil price shock of the late 1970s compared with the one of the earl...

DRIVER (German)

47

Subsidies, knapsack auctions and Dantzig's greedy heuristic

Ensthaler, Ludwig; Giebe, Thomas

A budget-constrained buyer wants to purchase items from a shortlisted set. Items are differentiated by quality and sellers have private reserve prices for their items. Sellers quote prices strategically, inducing a knapsack game. The buyer's problem is to select a subset of maximal quality. We propo...

DRIVER (German)

52

Staggering and Synchronisation of Prices in a Low Inflation Environment: Evidence from German Food Stores

Loy, Jens-Peter; Weiss, Christoph R.

Only a few studies have analysed staggering and synchronisation in pricing behaviour of multi-product firms. These studies used low-frequency data in an environment of high rates of inflation. This paper investigates staggering and synchronisation of weekly prices for ten food products in 131 grocer...

DRIVER (German)

54

Spatial prices, search behavior and location

Maier, G.; European Regional Science Association International; Institute of Employment Research; German Federal Labour Office
2009-01-01

German National Library of Science and Technology (GetInfo) (German)

55

Spatial price competition in retail gasoline markets: evidence from Austria

Pennerstorfer, D.; European Regional Science Association International; Institute of Employment Research; German Federal Labour Office
2009-01-01

German National Library of Science and Technology (GetInfo) (German)

57

Sources of German unemployment: evidence from a structural VAR model

Linzert, Tobias

This paper analyzes the dynamic effects of different macroeconomic shocks on unemployment in Germany. In a first step, a cointegration analysis of productivity, prices, real wages, employment, and the unemployment rate reveals two long run relationships, interpreted as a labor demand and a wage sett...

DRIVER (German)

58

Sources of German Unemployment: Evidence from a Structural VAR Model

Linzert, Tobias

This paper analyzes the dynamic effects of different macroeconomic shocks on unemployment in Germany. In a first step, a cointegration analysis of productivity, prices, real wages, employment, and the unemployment rate reveals two long run relationships, interpreted as a labor demand and a wage sett...

DRIVER (German)

59

Sinn und Unsinn von Quoten auf Basis von preisbereinigten Werten

Grömling, Michael

Eine wesentliche Neuerung der Revision der Volkswirtschaftlichen Gesamtrechnungen vom April 2005 ist die Einführung eines neuen Deflationierungsverfahrens. Durch den Übergang von der Festpreisbasis auf eine Vorjahrespreisbasis mit Verkettung liegt keine Additivität der preisbereinigten Komponenten e...

DRIVER (German)

60

Singapore in Its Worst Recession for Years. The Effects of the Current Economic Crisis on the City-State’s Economy

Rolf Jordan

Due to the current economic downturn, Singapore has experienced one of its most severe recessions since independence. The financial crisis, which caused a fall in prices at most of the world’s leading stock exchanges and a sharp decline in industrial production, has also had a negative impact on the...

DRIVER (German)

63

Regional variations in the price of building land: a spatial econometrics approach for West Germany

Moller, J.; European Regional Science Association International; Institute of Employment Research; German Federal Labour Office
2009-01-01

German National Library of Science and Technology (GetInfo) (German)

65

Regional costs-of-living with congestion and amenity differences: an economic geography perspective

Sudekum, J.; European Regional Science Association International; Institute of Employment Research; German Federal Labour Office
2009-01-01

German National Library of Science and Technology (GetInfo) (German)

66

Real estate markets and bank distress

Koetter, Michael; Poghosyan, Tigran

We investigate the relationship between real estate markets and bank distress among German universal and specialized mortgage banks between 1995 and 2004. Higher house prices increase the value of collateral, which reduces the probability of bank distress (PDs). But higher prices at given rents may ...

DRIVER (German)

67

Real Estate Valuation According to Standardized Methods An Empirical Analysis

Schulz, Rainer

Appraisals are needed for decision-making and for performance evaluation. Knowledge on the accuracy of valuation methods is of general interest for banks and investors. We assess the accuracy of the German Regulation on Valuation with monthly data on appraisals and prices for commercial apartment h...

DRIVER (German)

68

Rarely Enjoyed? A Count Data Analysis of Transit Ridership in Germany's Public Transport

Frondel, Manuel; Vance, Colin

Focusing on adult members of German households, this paper investigates the determinants of public transit ridership with the aim of quantifying the effects of fuel prices, fares, person-level attributes, and characteristics of the transit system on transport counts over a five-day week. The relianc...

DRIVER (German)

71

Quality of life in the regions: results for German Counties

Buettner, T.; Ebertz, A.; European Regional Science Association International; Institute of Employment Research; German Federal Labour Office
2009-01-01

German National Library of Science and Technology (GetInfo) (German)

76

Prices vs. Quantities with incomplete enforcement and different enforcement probabilities

Rohling, Moritz

Regulating inter-country externalities, like climate change, raises various enforcement problems. It is often argued that international pricebased regulations (e.g. emission taxes) are more difficult to enforce than quantity-based regulations (e.g. tradable pollution permits). In this paper, we anal...

DRIVER (German)

77

Price setting in German manufacturing: new evidence from new survey data

Stahl, Harald

This paper presents new evidence on the formation of producer prices based on a onetime survey that was conducted on a sample of 1200 German firms in manufacturing in June 2004. Most of the firms have price-setting power and apply mark-up pricing. Indexation is negligible. Fixed nominal contracts ar...

DRIVER (German)

78

Price indices on the basis of unit values: Unit value indices as proxies for price indices

von der Lippe, Peter

In some countries a Paasche price index based on unit values is compiled as a proxy for a true Paasche (or Laspeyres) price index on the basis of prices. This is for example the case in German foreign trade statistics. Unit values are average prices referring to a 'commodity number' (CN), that is an...

DRIVER (German)

79

Price convergence in the enlarged internal market

Dreger, Christian; Kholodilin, Konstantin; Lommatzsch, Kirsten; Slacalek, Jiri; Wozniak, Przemyslaw

In this paper we investigate the effects of EU enlargement on price convergence. The internal market is expected to boost integration and increase efficiency and welfare through a convergence of prices in product markets. Two principal drivers are crucial to explain price developments. On the one ha...

DRIVER (German)

80

Price adjustment in German manufacturing: evidence from two merged survey

Stahl, Harald

This paper presents new evidence on the formation of producer prices. The database combines a one-time survey that was conducted in June 2004 on a sample of 1,200 firms in manufacturing and time-series information on price adjustment of the same firms from a business-tendency survey. The share of ti...

DRIVER (German)

84

Policy Challenges Related to Biofuel Development in Tanzania Politische Herausforderungen in Bezug auf Biokraftstoffe in Tansania

Hussein Sosovele; Institute of Resource Assessment, University of Dar es Salaam

Biofuels have recently emerged as a major issue in energy policy, agricultural development and natural resource management. The growing demand for biofuels is being driven by high oil prices, energy security concerns and global climate change. In Tanzania there is growing interest on the part of for...

DRIVER (German)

85

On the impact of weather on German hourly power prices

Kosater, Peter

The liberalization of electricity markets has triggered research in econometric modelling and forecasting of electricity spot prices. Moreover, both the demand and the supply of electricity are subject to weather conditions. Therefore, we examine the relation between hourly electricity spot prices f...

DRIVER (German)

86

New Evidence on News-Driven Business Cycles

Haertel, Thomas; Lucke, Bernd

We study the Beaudry and Portier (2006)-hypothesis of delayed-technology diffusion and newsdriven business cycles. For German data on TFP and stock prices we find qualitatively similar empirical evidence. Quantitatively, however, an impulse response analysis suggests that a substantial part of the t...

DRIVER (German)

91

Multi-factor Gegenbauer processes and European inflation rates

Caporale, Guglielmo Maria; Gil-Alana, Luis A.

In this paper we specify a multi-factor long-memory process that enables us to estimate the fractional differencing parameters at each frequency separately, and adopt this framework to model quarterly prices in three European countries (France, Italy and the UK). The empirical results suggest that i...

DRIVER (German)

92

Money velocity and asset prices in the euro area

Dreger, Christian; Wolters, Jürgen

Monetary growth in the euro area has exceeded its target since several years. At the same time, the money demand function seems to be increasingly unstable if more recent data are used. If the link between money balances and the macroeconomy is fragile, the rationale of monetary aggregates in the EC...

DRIVER (German)

93

Monetary policy, global liquidity and commodity price dynamics

Belke, Ansgar; Bordon, Ingo G.; Hendricks, Torben W.

This paper examines the interactions between money, interest rates, goods and commodity prices at a global level. For this purpose, we aggregate data for major OECD countries and follow the Johansen/Juselius cointegrated VAR approach. Our empirical model supports the view that, when controlling for ...

DRIVER (German)

94

Methodik des interorganisationalen Technologietransfers: Ein Technologie-Roadmap-basiertes Verfahren für kleine und mittlere technologieorientierte Unternehmen

Laube, T.

In order to secure their competitive ability on a long-term basis, German enterprises are compelling due to the stronger international competition to offer high-quality products for prices corresponding to real market conditions. The enterprises are to look out in all directions and evaluate, which ...

DRIVER (German)

95

Methodik des interorganisationalen Technologietransfers : ein Technologie-Roadmap-basiertes Verfahren für kleine und mittlere technologieorientierte Unternehmen Methodology of the interorganisational transfer of technology : a technology roadmap based procedure for small and medium technology-oriented enterprises

Laube, Thorsten

Besonders deutsche Unternehmen sind gezwungen, qualitativ hochwertige Produkte zu marktgerechten Preisen anzubieten, um so langfristig ihre Wettbewerbsfähigkeit zu sichern. Dabei nimmt die vorausschauende Identifizierung, Einführung und Anwendung neuer Produkt- und Produktionstechnologien sowie eine...

DRIVER (German)

96

Mean Reversion-Effekte auf dem deutschen Aktienmarkt : Statistische Analysen der Entwicklung des DAX-KGV

Albrecht, Peter; Kantar, Cemil; Xiao, Yanying

This paper investigates mean reversion effects in the German stock market. Recent studies have shown that stock prices tend to follow random walks over short horizons while there is empirical evidence for a mean-reverting behavior over long horizons. Considering fundamental values, we examine mean r...

DRIVER (German)

100

Liquidity and the dynamic pattern of asset price adjustment: a global view

Belke, Ansgar; Orth, Walter; Setzer, Ralph

Global liquidity expansion has been very dynamic since 2001. Contrary to conventional wisdom, high money growth rates have not coincided with a concurrent rise in goods prices. At the same time, however, asset prices have increased sharply, significantly outpacing the subdued development in consumer...

DRIVER (German)

101

Liquidity and asset prices: how strong are the linkages?

Dreger, Christian; Wolters, Jürgen

The appropriate design of monetary policy in integrated financial markets is one of the most challenging areas for central banks. One hot topic is whether the rise in liquidity in recent years has contributed to the formation of price bubbles in asset markets. If strong linkages exist, the inclusion...

DRIVER (German)

104

Japanese share prices

Uemura, S.; Kimura, T.; Central Bank Economists
1998-01-01

German National Library of Science and Technology (GetInfo) (German)

106

Investor protection and share prices: evidence from statutory rules governing variations of shareholders' class rights in Russia

Muravyev, Alexander

This paper uses a quasi-experimental framework provided by recent changes in Russian corporate law to study the effect of investor protection on the value of shares. The legal change analyzed involves the empowerment of preferred (non-voting) shareholders to veto unfavorable changes in their class r...

DRIVER (German)

107

Intraday Stock Price Effects of Ad Hoc Disclosures : The German Case

Muntermann, Jan; Güttler, André

This paper examines intraday stock price effects and trading activity caused by ad hoc disclosures in Germany. The evidence suggests that the observed stock prices react within 90 minutes after the ad hoc disclosures. Trading volumes take even longer to adjust. We find no evidence for abnormal price...

DRIVER (German)

110

International Lessons for the Property Price Boom in South Africa

Wagner, Helmut; Kißmer, Friedrich; Funke, Norbert

South Africa appears to share some of the characteristics (property price boom, easing of monetary policy, strong domestic demand growth) of asset price booms in industrial countries that were often followed by a period of weak growth. The international experience suggests that a number of practical...

DRIVER (German)

114

Inflation and the Skewness of the Distribution of Relative Price Changes: Empirical Evidence for Germany

Döpke, Jörg; Pierdzioch, Christian

The present paper uses German annual data covering the period 1969-2000 to present evidence on the link between aggregate inflation and the higher-order moments of the distribution of relative price changes. Our empirical findings confirm predictions of contributions to the theoretical literature su...

DRIVER (German)

116

Increasing block tariffs in the water sector: a semi-welfarist approach

Meran, Georg; Hirschhausen, Christian von

We analyze the properties of progressive water tariffs that are often applied in the sector in the form of discretely increasing block tariffs (IBT). We are particularly interested in water tarification in a poverty context where a subsistence level of water has to be allocated to each household. Ou...

DRIVER (German)

117

Improving the pricing of options: a neural network approach

Anders, Ulrich; Korn, Olaf; Schmitt, Christian

In this paper we apply statistical inference techniques to build neural network models which are able to explain the prices of call options written on the German stock index DAX. By testing for the explanatory power of several input variables serving as network inputs, some insight into the pricing ...

DRIVER (German)

118

Impacts of the German support for renewable energy on electricity prices, emissions and profits: an analysis based on a European electricity market model

Traber, Thure; Kemfert, Claudia

Effects of renewable support legislation on electricity prices have been analyzed with a plethora of models. However, these models neglect at least one of the following aspects which we take into account in our analysis: oligopolistic market behavior of dominant firms, emission trading, restricted e...

DRIVER (German)

123

Herding of institutional traders: New evidence from daily data

Kremer, Stephanie

This paper sheds new light on herding of institutional investors by using a unique database that identifies every transaction made by financial institutions in the German stock market. First, the analysis reveals that herding behavior of institutions occurs daily. Second, replication of the analysis...

DRIVER (German)

124

Herding of Institutional Traders

Kremer, Stephanie

This study analyzes the trading activity of institutional investors on German Stock Exchanges to evaluate herding behavior and its determinants. The paper uses a unique and superior high-frequent investor-level database that directly identifies every transaction of banks and financial service instit...

DRIVER (German)

125

Hedonic Prices in the German Market for Mobile Phones

Dewenter, Ralf; Haucap, Justus; Luther, Ricardo; Rötzel, Peter

This paper provides a hedonic price analysis of mobile telephones for the German market. We have assembled data on 302 different handsets from 25 manufacturers over the period from May 1998 to November 2003. While volume has a negative effect on the price of a mobile handset, the number of ringtones...

DRIVER (German)

126

Has the export pricing behaviour of German enterprises changed? Empirical evidence from German sectoral prices

Stahn, Kerstin

The question as to whether the globalisation-related increase in competitive pressure may have caused the importance of exchange rate pass-through and pricing-to-market for export pricing in Germany to shift since the 1990s is addressed by testing the long-run export pricing behaviour of German ente...

DRIVER (German)

129

Gone with the wind?: electricity market prices and incentives to invest in thermal power plants under increasing wind energy supply

Traber, Thure; Kemfert, Claudia

The increased wind energy supplied to many electricity markets around the world has to be balanced by reliable back up units or other complementary measures when wind conditions are low. At the same time wind energy impacts both, the utilization of thermal power plants and the market prices. While t...

DRIVER (German)

130

Global liquidity, world savings glut and global policy coordination

Belke, Ansgar; Gros, Daniel

The global imbalances of the 2000s and the recent global financial crisis are intimately connected. Both originate in the combination of economic policies adopted by the two key economies, the US and China. Global financial markets served as a transmission belt, both during the boom as during the bu...

DRIVER (German)

131

Global liquidity and commodity prices: a cointegrated VAR approach for OECD countries

Belke, Ansgar; Bordon, Ingo G.; Hendricks, Torben W.

This paper examines the interactions between money, consumer prices and commodity prices at a global level from 1970 to 2008. Using aggregated data for major OECD countries and a cointegrating VAR framework, we are able to establish long run and short run relationships among these variables while th...

DRIVER (German)

135

Food price inflation and schooling

Grimm, Michael

In the middle of the nineties the rural population in Burkina Faso was seriously hit by rising food prices. Whereas cotton farmers were able to cope with this shock given the simultaneous boom in the cotton sector, food crop farmers had to withdraw children from school and to let them work more inte...

DRIVER (German)

136

Fixed, focal, fair? book prices under optional resale price maintenance

Beck, Jonathan; Wissenschaftszentrum Berlin für Sozialforschung gGmbH

DRIVER (German)

137

First evidence of asymmetric cost pass-through of EU emissions allowances: examining wholesale electricity prices in Germany

Zachmann, Georg; Hirschhausen, Christian von

This paper applies the literature on asymmetric price transmission to the emerging commodity market for EU emissions allowances (EUA). We utilize an error correction model and an autoregressive distributed lag model to measure the relationship between CO2 price changes and the development of wholesa...

DRIVER (German)

139

Exchange rate pass-through: New evidence from German micro data

Berner, Eike

This paper examines exchange rate pass-through into German import unit values over the last 20 years. I find incomplete pass-through to be the predominant characteristic for German imports with an average rate of 42% over three months. This result holds when considering monthly 8-digit data, the mos...

DRIVER (German)

146

Energy consumption and economic growth: New insights into the cointegration relationship

Belke, Ansgar; Dreger, Christian; Haan, Frauke de

This paper examines the long-run relationship between energy consumption and real GDP, including energy prices, for 25 OECD countries from 1981 to 2007. The distinction between common factors and idiosyncratic components using principal component analysis allows to distinguish between developments o...

DRIVER (German)

148

Effiziente Integration erneuerbarer Energien in den deutschen Elektrizitätsmarkt Efficient Integration of Renewable Energies in the German Electricity Market

Nabe, Christian A.

Im Rahmen der Liberalisierung der Elektrizitätswirtschaft wird eine zunehmende Durchführung von Koordinationsaufgaben des Elektrizitätsversorgungssystems durch Märkte und Marktpreise angestrebt. In dieser Arbeit wird untersucht, wie Strommärkte gestaltet sein müssen, um eine effizienten Durchführung...

DRIVER (German)

149

Effects of oil price shocks on German business cycles

Schmidt, Torsten; Zimmermann, Tobias

In this paper we analyse to what extent movements in oil prices can help to explain business cycle fluctuations in Germany.We proceed in several steps:As a starting point we use a standard real business cycle model for the German economy and introduce energy as an additional factor in the production...

DRIVER (German)

153

Do regional price levels converge?: paneleconometric evidence based on German districts

Dreger, Christian; Kosfeld, Reinhold

We investigate price index convergence on the base of regional data for 439 German districts. Prices refer to the overall consumer price index as well as to the index without housing prices. To increase the efficiency of the testing framework, a panel unit root analysis is performed, where cross sec...

DRIVER (German)

154

Do high oil prices matter?: evidence on the mobility behavior of German households

Frondel, Manuel; Vance, Colin

Focusing on travel survey data from Germany, this paper investigates the determinants of automobile travel, with the specific aim of quantifying the effects of fuel prices and fuel economy. The analysis is predicated on the notion that car mileage is a two-stage decision process, comprising the disc...

DRIVER (German)

156

Do News Shocks Drive Business Cycles? Evidence from German Data

Lucke, Bernd; Haertel, Thomas

We study the Beaudry and Portier (2006)-hypothesis of delayed-technology diffusion and news-driven business cycles. For German data on TFP and stock prices we find qualitatively similar empirical evidence. Quantitatively, however, an impulse response analysis suggests that a substantial part of the ...

DRIVER (German)

157

Disparities in prices and income across German NUTS 3 regions

Kosfeld, Reinhold; Eckey, Hans-Friedrich; Lauridsen, Jorgen

In EU countries, knowledge on spatial disparities in overall price level is extremely scarce. When interregional price disparities are large, however, nominal income measures fail to assess prosperity and the catch-up processes of regions. Despite its importance for regional policy, no official regi...

DRIVER (German)

159

Determinants of residential property prices in Germany: Evidence from a structural approach

Kajuth, Florian

We use a GMM approach to estimate the impact of standard macroeconomic variables on house prices in Germany. In order to avoid interpolation of house price data we use annual data and look separately at the demand and supply side. Our findings suggest that nominal and real house prices in Germany ar...

DRIVER (German)

160

Determinants of Drug Prices in Middle Income Countries: How important are intellectual property rights?

Schustereder, Ingmar; Jütting, Johannes

This paper analyzes the impact of trade related intellectual property rights (TRIPS) on drug prices in seven middle income countries. Applying both an econometric as well as an explorative analysis we find three key messages: First, the introduction of TRIPS in the selected countries tends to have n...

DRIVER (German)

161

Delta-neutral volatility trading with intra-day prices: an application to options on the DAX

Schmitt, Christian; Kaehler, Jürgen

This paper evaluates the profitability of applying four different volatility forecasting models to the trading of straddles on the German stock market index DAX. Special care has been taken to use simultaneous intra-day prices and realistic transaction costs. Furthermore, straddle positions were eva...

DRIVER (German)

162

Declining export prices due to increased competition from NIC: evidence from Germany and the CEEC

Gundel, Sebastian

In this paper the export demand and supply of German manufacturing industry is estimated for the period 1993:1 through 2005:4. The Johansen (1991, 1994) procedure is applied to estimate the long-run relationship in a VECM. Special attention is pointed on the development of the German export price be...

DRIVER (German)

163

Cyclical price fluctuations caused by information inertia : evidence from the German call-by-call telephone market

Baier, Antje; Bolle, Friedel

The 2002 prices of suppliers in German call-by-call telephone market are rather dispersed, out-of-phase (uncorrelated), and show systematic down-up movements. In 2004, these prices are less dispersed, more in-phase and show more upwards runs than downs-ups. In both years, we clearly do not observe E...

DRIVER (German)

164

Continuous economic space modelling. Draft of a survey

Puu, T.; European Regional Science Association International; Institute of Employment Research; German Federal Labour Office
2009-01-01

German National Library of Science and Technology (GetInfo) (German)

167

Consumer price adjustment under the microscope: Germany in a period of low inflation

Hoffmann, Johannes; Kurz-Kim, Jeong-Ryeol

We analyse the adjustment of retail and services prices in a period of low inflation, using a set of individual price data from the German Consumer Price Index which covers the years 1998 to 2003. We strong find evidence of time- and state-dependent price adjustment. Most importantly, the difference...

DRIVER (German)

171

Changes in import pricing behaviour: the case of Germany

Stahn, Kerstin

Since changes in import prices feed into consumer prices and thus might affect monetary policy decisions, policymakers need to establish whether or not German importers' long-run pricing behaviour has changed. Of particular interest are any shifts in the importance of cost passthrough and pricing-to...

DRIVER (German)

172
173

Can Markov-regime switching models improve power price forecasts? Evidence for German daily power prices

Kosater, Peter; Mosler, Karl

Nonlinear autoregressive Markov regime-switching models are intuitive and frequently proposed time series approaches for the modelling of electricity spot prices. In this paper such models are compared to an ordinary linear autoregressive model with regard to their forecast performance. The study is...

DRIVER (German)

174

CO2-Emissionshandel - Auswirkungen auf die deutsche Energiewirtschaft

Clasing, Martin

Zu Beginn des Jahres 2005 startete das europäische Emissionshandelssystem. Die vorliegende Studie beschäftigt sich mit den Auswirkungen des Emissionshandelssystems auf die deutsche Energiewirtschaft. Dargestellt und analysiert wird zunächst die europäische Emissionshandelsrichtlinie 2003/87/EG. Dana...

DRIVER (German)

176

Berücksichtigung von Börsenkursen bei der Ermittlung von Barabfindungen im Rahmen von aktienrechtlichen Strukturmaßnahmen

Henselmann, Klaus; Schrenker, Claudia; Winkler, Nadine

Due to judicial decisions the stock market prices are deemed to be the lower value limit in determining the compensations within structural measures according to German stock corporation law (e.g. squeeze-out of minority stockholders). By applying other valuation methods, in particular the income ap...

DRIVER (German)

178

Auction prices and asset allocations of the electronic equity trading system Xetra

Li, Xihao; Wenzelburger, Jan

This paper formalizes the price and asset allocation mechanism of multi-unit double auctions in Xetra, the electronic equity trading system operated by the German stock exchange. The trading principles are embedded into the classical theory of quantity rationing. The properties of Xetra auctions are...

DRIVER (German)

179

Asymmetric Price Transmission in Supply Function Equilibrium, Carbon Prices and the German Electricity Spot Market

Wölfing, Nikolas

In January 2007, first evidence of an asymmetric pass-through of CO2 emission allowance prices was reported for the German electricity spot market. This paper explores the theoretical basis for such an asymmetry in the context of a supply function bidding duopoly. It interprets fluctuating carbon pr...

DRIVER (German)

180

Asymmetric Price Transmission in Supply Function Equilibrium, Carbon Prices and the German Electricity Spot Market

Wölfing, Nikolas

In January 2007, first evidence of an asymmetric pass-through of CO2 emission allowance prices was reported for the German electricity spot market. This paper explores the theoretical basis for such an asymmetry in the context of a supply function bidding duopoly. It interprets fluctuating carbon pr...

DRIVER (German)

186

Agent-based simulation of the german electricity markets - An analysis of the german spot market prices in the year 2001

Sensfuss, F.; Genoese, M.

This paper presents a first version of the agent-based simulation platform PowerACE for the simulation of the German electricity sector. In a case the PowerACE model is used to simulate the development of market prices on the German spot market in the year 2001. In order to analyse the capability of...

DRIVER (German)

190

A simple model of an oil based global savings glut: the China factor and the OPEC cartel

Belke, Ansgar; Gros, Daniel

The purpose of this contribution is to illustrate the mechanism by which higher oil prices might lead to lower interest rates in the context of a simple model that takes into account the global external savings equilibrium. The simple model has interesting implications for how one views the huge US ...

DRIVER (German)

192

A count data analysis of ridership in Germany's public transport

Frondel, Manuel; Vance, Colin

Focusing on adult members of German households, this paper investigates the determinants of public transit ridership with the aim of quantifying the effects of fuel prices, fares, person-level attributes, and characteristics of the transit system on transport counts over a five-day week. The relianc...

DRIVER (German)

194

A Markov switching model of the merit order to compare British and German price formation

Zachmann, Georg

The objective of this paper is to develop a model to determine the price formation of wholesale electricity markets. For that purpose, we model wholesale electricity prices depending on the prices of fuels (coal and natural gas) and of CO2 emission allowances using a Markov Switching Regression. We ...

DRIVER (German)

196

Ahlfeldt, Gabriel M.

DRIVER (German)