Now showing items 21-30 of 1490
The persistence of ownership inequality.
Investors on the German stock exchanges, 1869–1945
We study the ownership structure of joint-stock firms for the period of 1869 to 1945 based on a unique hand-collected data set. The data covers a selection of 785 general meetings of 276 firms, including details of more ...
Theories, techniques and the formation of German business cycle forecasts
Evidence from a survey among professional forecasters
The paper reports results of a survey among active forecasters of the German business cycle. Relying on 82 respondents from 37 different institutions, we investigate what models and theories forecasters subscribe to and ...
Discrimination against Foreigners
The Wuerttemberg Patent Law in Administrative Practice
Economists stress the leading role that inclusive institutions play among the various factors that foster a country’s economic growth. In this article, we show that it might be misleading to mistake the codification of a ...
Inflation Expectations and the Recovery from the Great Depression in Germany
A regime shift towards increased in inflation expectations is credited with jumpstarting the recovery from the Great Depression in the United States. Germany experienced a recovery as fast and strong in the 1930s. What ...
Dynamic Valuation of Weather Derivatives under Default Risk
Weather derivatives are contingent claims with payoff based on a pre-specified weather index. Firms exposed to weather risk can transfer it to financial markets via weather derivatives. We develop a utility-based model for ...
RiskAnalytics: an R package for real time processing of Nasdaq and Yahoo finance data and parallelized quantile lasso regression methods
In order to integrate and facilitate the research, calculation and analysis methods around the Financial Risk Meter (FRM) project, the R package RiskAnalytics has been developed. Its main goal is to provide data processing ...
Testing Missing at Random using Instrumental Variables
This paper proposes a test for missing at random (MAR). The MAR assumption is shown to be testable given instrumental variables which are independent of response given potential outcomes. A nonparametric testing procedure ...
Dynamic semi-parametric factor model for functional expectiles
High-frequency data can provide us with a quantity of informa- tion for forecasting, help to calculate and prevent the future risk based on extremes. This tail behaviour is very often driven by ex- ogenous components and ...
Is Scientific Performance a Function of Funds?
The management of universities demands data on teaching and research performance. While teaching parameters can be measured via student performance and teacher evaluation programs, the connection of research outputs and ...