From:                              Kerstin Heres <heres@zew.de>

Sent:                               Montag, 11. Juni 2018 10:23

To:                                   IHS Library

Subject:                          ZEW Discussion Papers (International Finance and Financial Management)

 

Sehr geehrte Damen und Herren,

im Rahmen unseres E-Mail Services finden Sie Titel und Zusammenfassung 
der neuen Discussion Papers aus den Forschungsbereichen des ZEW, um deren
Zusendung Sie gebeten hatten.
 
as requested we send you via our e-mail service the Discussion Papers from those Research Departments of the Centre for European Economic Research which you have selected.
 
Mit freundlichen Grüßen / Sincerely yours
Kerstin Heres
ZEW
..........................................................................................................

International Distribution and Redistribution

 

 

 

Discussion Paper No. 18-021

 

Inequality of Educational Opportunities and the Role of Learning Intensity:

Evidence from a Quasi-Experiment in Germany

 

Sebastian Camarero Garcia

 

Abstract

Over the 2000s, many federal states in Germany shortened the duration of secondary school by one year while keeping the curriculum unchanged. Exploiting quasi-experimental variation due to the staggered introduction of this reform allows me to identify the causal effect of increased learning intensity on Inequality of Educational Opportunity (IEOp), the share in educational outcome variance explained by predetermined circumstances beyond a student’s control. The reform-induced increase in learning intensity had no short-term effect on IEOp. In the medium term, however, IEOp increased as differences in parental resources gained importance through support opportunities like private tuition adapting to the intensified educational process. The effect is stronger for mathematics/science than for reading, implying the existence of subject-dependent curricular flexibilities. My findings point to the importance of accounting for distributional consequences when evaluating reforms aimed at increasing the efficiency of educational systems and to the role of learning intensity for explaining changes in educational opportunities influencing social mobility.

 

Download this ZEW Discussion Paper from our ftp server:

http://ftp.zew.de/pub/zew-docs/dp/dp18021.pdf

 

..........................................................................................................

..........................................................................................................

 

Environmental and Resource Economics, Environmental Management

 

 

Discussion Paper No. 18-022

 

The Distribution of Material Footprints in Germany

 

Frank Pothen and Miguel Angel Tovar Reaños

 

Abstract

This study investigates the within-country heterogeneity of material footprints implied by households' consumption in Germany. Material footprints are defined as the amount of biomass, minerals, and fossil fuels extracted to produce the goods that households consume. Combining input-output data with households' consumption expenditures from the German sample survey of income and expenditure (EVS), we present the first comprehensive study on the distribution of material footprints among households, highlighting hot spots of unsustainable consumption patterns by household groups. Households in the quartile with the highest consumption expenditures have material footprints three times as large as those in the quartile with the lowest expenditures. Results of a microeconomic model of household's consumption behaviour estimated on the EVS data suggest that price-based instruments can reduce material footprints of luxury consumption such as leisure and private transport without imposing large burdens on low-affluence households. The material footprints caused by energy consumption do not react sensitively to price changes, suggesting that non-price policies are more effective to reduce them.

 

Download this ZEW Discussion Paper from our ftp server:

http://ftp.zew.de/pub/zew-docs/dp/dp18022.pdf

 

..........................................................................................................

..........................................................................................................

 

Digital Economy

 

 

 

Discussion Paper No. 18-023

 

Unemployment and Online Labor

 

Kathrin Borchert, Matthias Hirth, Michael Kummer, Ulrich Laitenberger, Olga Slivko, and

Steffen Viete

 

Abstract

Online labor markets experienced a rapid growth in recent years. They allow for long-distance transactions and offer workers access to a potentially ‘global’ pool of labor demand. As such, they bear the potential to act as a substitute for shrinking local income opportunities. Using detailed U.S. data from a large online labor platform for microtasks, we study how local unemployment affects participation and work intensity online. We find that, at the extensive margin, an increase in commuting zone level unemployment is associated with more individuals joining the platform and becoming active in fulfilling tasks. At the intensive margin, our results show that with higher unemployment rates, online labor supply becomes more elastic. These results are driven by a decrease of the reservation wage during standard working hours. Finally, the effects are transient and do not translate to a permanent increase in platform participation by incumbent users. Our findings highlight that many workers consider online labor markets as a substitute to offline work for generating income, especially in periods of low local labor demand. However, the evidence also suggests that, despite their potential to attract workers, online markets for microtasks are currently not viable as a long run alternative for most workers.

 

Download this ZEW Discussion Paper from our ftp server:

http://ftp.zew.de/pub/zew-docs/dp/dp18023.pdf

 

..........................................................................................................

 

Discussion Paper No. 18-026

 

Impulsstudie

 

Bausteine für einen sektorenübergreifenden institutionellen Ordnungsrahmen für die Digitale Wirtschaft

 

Thomas Fetzer

 

Executive Summary

Digitalisierung und Vernetzung der Wirtschaft verfügen über immense gesamtwirtschaftliche Wachstumspotenziale. Sie sind gleichwohl keine Selbstläufer. Ihnen sind erhebliche externe Effekte immanent, die dazu führen, dass der individuelle Nutzen von Digitalisierung und Vernetzung oftmals hinter den entsprechenden individuellen Kosten zurückbleibt. Auch wenn Wettbewerb der zentrale Treiber einer erfolgreichen Digitalisierung und Vernetzung der Wirtschaft ist, kann daher eine staatliche Begleitung einen essentiellen Beitrag dazu leisten, die  gesamtwirtschaftlichen Wachstumspotenziale möglichst umfassend zu realisieren. Digitalisierung und Vernetzung der Wirtschaft verlangen insofern nicht nur nach einer Überprüfung des materiellen Ordnungsrahmens, sondern schaffen Herausforderungen gerade auch für den institutionellen Ordnungsrahmen.

Die bestehenden Institutionen, insbesondere die Bundesnetzagentur und das Bundeskartellamt haben bei der Digitalisierung und Vernetzung der Wirtschaft wichtige Funktionen. Eine erfolgreiche staatliche Begleitung bringt aber auch eine Reihe neuer Aufgaben mit sich, die die Errichtung einer neuen Institution – einer Digitalagentur – rechtfertigen.

Die Errichtung einer Digitalagentur und eine stärkere Koordination der Digitalpolitik auf

Kabinettsebene der Bundesregierung stehen dabei in keinem Ausschließlichkeitsverhältnis,

sondern sind komplementär zueinander.

Eine Digitalagentur könnte erstens die Aufgabe erhalten, die Nachfrage nach hochleistungsfähigen Breitbandanschlüssen durch eigene Informations- und Fördermaßnahmen sowie durch eine stärkere Koordination bestehender Programme zu stärken. Zweitens sollte die Behörde über alle Wirtschaftsbereiche hinweg Informations- und Förderprogramme ins Leben rufen und bestehende Initiativen koordinieren, um eine möglichst effiziente und effektive Digitalisierung und Vernetzung der gesamten Wirtschaft zu unterstützen. Drittens könnte die Behörde die Einrichtung und Überwachung von Digitalexperimentierräumen übernehmen, mit denen befristet und  möglicherweise räumlich begrenzt Freiräume für innovative Produkte und Geschäftsmodelle eröffnet werden. Viertens käme der Digitalagentur die Aufgabe zu, durch exzellente Vorfeldforschung die Grundlagen für eine evidenzbasierte Digitalpolitik der Bundesregierung sowie für die Evaluation von Regulierungs- und Fördermaßnahmen zu legen. Fünftens könnte die Behörde im Falle festgestellter Rechtsdurchsetzungsdefizite im Internet, beispielsweise im Verbraucherschutz, Durchsetzungsbefugnisse erhalten, mit denen sie auch kurzfristig auf mögliche Fehlentwicklungen reagieren kann.

Eine Digitalagentur könnte als selbstständige Bundesoberbehörde im Zuständigkeitsbereich

des Bundesministeriums für Wirtschaft und Energie errichtet werden. Soweit der Digitalagentur wettbewerbs- oder verbraucherschutzrechtliche Eingriffsbefugnisse übertragen werden sollen, muss die Komplementarität zu den Aufgaben und Befugnissen  von Bundeskartellamt und Bundesnetzagentur nicht nur materiell, sondern auch verfahrensrechtlich sichergestellt werden.

 

 

Download this ZEW Discussion Paper from our ftp server:

http://ftp.zew.de/pub/zew-docs/dp/dp18026.pdf

 

..........................................................................................................

..........................................................................................................

 

International Finance and Financial Management

 

 

Discussion Paper No. 18-024

 

The effects of uncertainty on market liquidity:

Evidence from Hurricane Sandy

 

Dominik Rehse, Ryan Riordan, Nico Rottke, and Joachim Zietz

 

Abstract

We test the effects of uncertainty on market liquidity using Hurricane Sandy as a natural experiment. Given the unprecedented strength, scale and nature of the storm, the potential damages of a landfall near the Greater New York area were unpredictable and therefore uncertain.

Using a difference-in-differences setting, we compare the market reactions of Real Estate Investment Trusts (REITs) with and without properties in the widely-published evacuation zone of New York City prior to landfall. We find relatively less trading and wider bid-ask spreads in affected REITs. The results confirm theory on the detrimental effects of uncertainty on market functioning.

 

Download this ZEW Discussion Paper from our ftp server:

http://ftp.zew.de/pub/zew-docs/dp/dp18024.pdf

 

..........................................................................................................

 

Discussion Paper No. 18-025

 

Gap-Filling Government Debt Maturity Choice

 

Frederik Eidam

 

Abstract

Do governments strategically choose debt maturity to fill supply gaps across maturities? Building on a new panel data set of more than 9,000 individual Eurozone government debt issues between 1999 and 2015, I find that governments increase long-term debt issues following periods of low aggregate Eurozone long-term debt issuance, and vice versa. This gap-filling behavior is more pronounced for (1) less financially constrained and (2) higher rated governments. Using the ECB’s three-year LTRO in 2011-2012 as an event study, I find that core governments filled the supply gap of longer maturity debt, which resulted from peripheral governments accommodating banks’ short-term debt demand for “carry trades”. This gap-filling implies that governments act as macro-liquidity providers across maturities, thereby adding significant risk absorption capacity to government bond markets.

 

Download this ZEW Discussion Paper from our ftp server:

http://ftp.zew.de/pub/zew-docs/dp/dp18025.pdf

 

..........................................................................................................

 

Corporate Taxation and Public Finance

 

 

Discussion Paper No. 18-027

 

Subnational Border Reforms and Economic Development in Africa

 

Thushyanthan Baskaran and Sebastian Blesse

 

Abstract

A recent literature suggests that arbitrarily designed administrative borders are an important reason why sub-Saharan Africa remains one of the least developed regions on the globe. Accordingly, administrative border reforms may be a way to promote growth on the African continent. In this paper, we study the effect of subnational administrative border reforms on local economic development (proxied by nighttime luminosity) by tracking state–level border changes in Africa during 1992-2013 with GIS techniques. Difference-in-difference regressions suggest that mergers have strong positive effects on economic development. Splits, too, have positive effects, but they are substantially smaller on average. To understand why the economic impact of splits and mergers differs in magnitude, we investigate transmission channels. We link border changes to geocoded conflict data and survey evidence on political attitudes as well as service delivery. We find that the differences between splits and mergers are possibly due to different underlying motives for these two types of border reforms. Splits seem to affect development through higher political stability, i.e. a lower incidence of conflicts and more benign political attitudes of citizens, while mergers presumably work through an improvement in administrative efficiency.

 

Download this ZEW Discussion Paper from our ftp server:

http://ftp.zew.de/pub/zew-docs/dp/dp18027.pdf

 

..........................................................................................................

..........................................................................................................

 

Labour Markets, Human Resources and Social Policy

 

 

Discussion Paper No. 18-028

 

Gender, Informal Employment and Trade Liberalization in Mexico

 

Sarra Ben Yahmed and Pamela Bombarda

 

Abstract

We study how trade liberalization affects formal employment across gender. We propose a theoretical mechanism to explain how male and female formal employment shares can respond differently to trade liberalization through labor reallocation across tradable and non-tradable sectors. Using Mexican data over the period 1993-2001, we find that tariff cuts increase the probability of working formally for both men and women within 4-digit manufacturing industries. The formalization of jobs within tradable sectors is driven by large firms. Constructing a regional tariff measure, we find that regional exposure to trade liberalization increases the probability of working formally in the manufacturing sector for both men and women, and especially for men. However in the service sectors, the probability of working formally decreases for low-skilled women.

 

Download this ZEW Discussion Paper from our ftp server:

http://ftp.zew.de/pub/zew-docs/dp/dp18028.pdf

 

..........................................................................................................

 

Discussion Paper No. 18-029

 

Unemployment and Social Exclusion

 

Laura Pohlan

 

Abstract

This paper analyzes the economic and social consequences of job loss which contribute to exclusion from society based on German linked survey and administrative data. To study the causal relationship between unemployment and multiple dimensions of social marginalization, I combine inverse propensity score weighting with a difference-in-differences approach. The results suggest that job loss has particularly detrimental effects on the subjective perception of social integration, life satisfaction, the access to economic resources and mental health.

Moreover, this paper shows that becoming unemployed hinders the fulfillment of psychosocial needs that are typically associated with working, such as social status and higher self-efficacy. The effects of job loss are long-lasting, growing more profound the longer the duration of unemployment and persisting following reemployment. Looking at effect heterogeneity, I find that having a partner and being highly educated reduces the negative effects of job loss.

 

Download this ZEW Discussion Paper from our ftp server:

http://ftp.zew.de/pub/zew-docs/dp/dp18029.pdf

 

..........................................................................................................

 

Discussion Paper No. 18-030

 

Do Digital Information Technologies Help Unemployed Job Seekers Find a Job?

Evidence from the Broadband Internet Expansion in Germany

 

Nicole Gürtzgen, André Nolte, Laura Pohlan, and Gerard J. van den Berg

 

Abstract

This paper studies effects of the introduction of a new digital mass medium on reemployment of unemployed job seekers. We combine data on high-speed (broadband) internet availability at the local level with individual register data on the unemployed in Germany. We address endogeneity by exploiting technological peculiarities in the network that affected the roll-out of high-speed internet. The results show that high-speed internet improves reemployment rates after the first months of the unemployment spell. This is confirmed by complementary analysis with individual survey data suggesting that online job search leads to additional formal job interviews after a few months in unemployment.

 

Download this ZEW Discussion Paper from our ftp server:

http://ftp.zew.de/pub/zew-docs/dp/dp18030.pdf

 

 

   .............................................................................................................. 

Falls Sie diesen Service nicht mehr wünschen, benachrichtigen Sie uns unter
Vertrieb@zew.de
 
If you are no longer interested in receiving this service please give notice to 
Vertrieb@zew.de

----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Kerstin Heres
Special Library & Distribution
• General Services
Tel.: +49 621 1235-130
E-Mail: Kerstin.Heres@zew.de

Internet: www.zew.de - www.zew.eu - twitter.com/ZEW

-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Zentrum für Europäische Wirtschaftsforschung GmbH (ZEW), L7,1, 68161 Mannheim
Centre for European Economic Research, L7,1, 68161 Mannheim, Germany
Sitz der Gesellschaft: Mannheim - Amtsgericht Mannheim HRB 6554 ǀ Seat of the Company: Mannheim - Local Court Mannheim HRB 6554
Aufsichtsratsvorsitzende: Ministerin Theresia Bauer MdL ǀ Chairwoman of the Supervisory Board: Minister Theresia Bauer MdL
Geschaeftsfuehrer: Prof. Achim Wambach, PhD, Thomas Kohl ǀ Executive Directors: Prof. Achim Wambach, PhD, Thomas Kohl