Universitätspublikationen
32 search hits
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Evaluation of active labour market policy : methodological concepts and empirical estimates
(2000)
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Reinhard Hujer
Marco Caliendo
- Persistently high unemployment, tight government budgets and the growing scepticism regarding the effects of active labour market policies (ALMP) are the basis for a growing interest in evaluating these measures. This paper intends to explain the need for evaluation on the micro- and macroeconomic level, introduce the fundamental evaluation problem and solutions to it, give an overview of the newer developments in evaluation literature and finally take a look on empirical estimations of ALMP effects. JEL Classification: C14, C33, H43, J64, J68
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The econometrics of airline network management
(2000)
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Joachim Grammig
Reinhard Hujer
Michael Scheidler
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Time varying trade intensities and the Deutsche Telekom IPO
(2000)
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Reinhard Hujer
Joachim Grammig
Stefan Kokot
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Frankfurt airport's impact on regional and national employment and income : some new results using an improved version of the extended model for interregional input-output-analysis
(2000)
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Reinhard Hujer
Stefan Kokot
- We develop an interregional version of the standard textbook input-output model, that is extended with respect to the inclusion of the consumption expenditures and income generation process into the endogenous part of the input-output table. We also introduce a new method for deriving a two-region version of an interregional input-output table from original input-output tables for an overall economy and one of its regions. In an empirical assessment of the economic effects of the Frankfurt Airport, the interregional model is successfully employed. It is shown, that the model is capable of reducing the degree of overestimation of economic effects that results from inappropriate use of national input-output tables in the assessment of regional impact effects. JEL classification: C32, C67, C81, R12, R15, R34.
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The Impact of Inflation on Long-Term Housing Loans
(2000)
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Ingo Tschach
- The extension of long-term loans, e.g. to finance housing, is adversely affected by inflation. For one thing, the higher nominal interest rates charged by the banks in response to inflation mean that borrowers have to make (nominally) higher interest payments, which unnecessarily reduces their borrowing capacity. For another, long-term loans with variable interest rates increase the probability that borrowers will become unable to meet their payment obligations. The present paper examines these two assertions in detail. At the same time, it presents a concept for substantially reducing the weaknesses of conventional lending methodologies. We start by investigating the consequences of a stable inflation rate on the borrowing capacity of credit clients, then go on to analyze the impact of fluctuating inflation rates on the risk of default.
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Entwicklungsfinanzierung
(2000)
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Reinhard H. Schmidt
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Joseph E. Stiglitz (1943 - )
(2000)
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Eva Terberger-Stoy
Marcel Tyrell
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Bias-free nonparametric estimation of intra-day trade activity measures
(2000)
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Joachim Grammig
Reinhard Hujer
Stefan Kokot
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Bailing in the private sector : on the adequate design of international bond contracts
(2000)
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Gerhard Illing
- During the last decade, there has been a significant bias towards bond financing on emerging markets, with private investors relying on a bail-out of bonds by the international community. The bias has been a main cause for recent excessive fragility of international capital markets. The paper shows how collective action clauses in bonds contracts help to involve the private sector in risk sharing. It argues that such clauses, as a market based instrument, will raise spreads for emerging market debt and so help to correct a market failure towards excessive bond finance. Recent pressure by the IMF to involve the private sector is facing a conflict between the principle to honour existing contracts and the principle of equal treatment of bondholders.
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Speculative Attacks: Unique Sunspot Equilibrium and Transparency
(2000)
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Frank Heinemann
Gerhard Illing
- Models with multiple equilibria are a popular way to explain currency attacks. Morris and Shin (1998) have shown that, in the context of those models, unique equilibria may prevail once noisy private information is introduced. In this paper, we generalize the results of Morris and Shin to a broader class of probability distributions and show - using the technique of iterated elimination of dominated strategies - that uniqueness will hold, even if we allow for sunspots and individual uncertainty about strategic behavior of other agents. We provide a clear exposition of the logic of this model and we analyse the impact of transparency on the probability of a speculative attack. For the case of uniform distribution of noisy signals, we show that increased transparency of government policy reduces the likelihood of attacks. JEL Classification F 31, D 82
