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DIW Discussion Papers 1767 / 2018
Die „Erzbergerschen Steuer- und Finanzreformen“ 1919/20 haben das deutsche Steuer- und Finanzsystem nahezu vollständig umgestaltet, modernisiert und stark ausgebaut. Wesentliche Elemente dieser Reformen haben bis heute Bestand– die Grundstrukturen des Steuersystems und der Steuerrechtsordnung sowie der zentralistische kooperative Finanzföderalismus. Das NS-Regime konsolidierte die Reformen und erhöhte ...
2018| Stefan Bach
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DIW Discussion Papers 1766 / 2018
Distributed photo-voltaic (PV) generation is one of the pillars of energy transitions around the world, but its deployment in the distribution grid requires costly reinforcements and expansions. Prosumage - consisting of a household-level PV unit coupled with a battery storage system - has been proposed as an effective means to facilitate the integration of renewable energy sources and reduce distribution ...
2018| Paul Neetzow, Roman Mendelevitch, Sauleh Siddiqui
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DIW Discussion Papers 1765 / 2018
Short-term electricity markets are key to an efficient production by generation units. We develop a two-period model to assess different bidding formats to determine for each bidding format the optimal bidding strategy of competitive generators facing price-uncertainty. We compare the results for simple bidding, block bidding and multi-part bidding and find that even under optimal simple and block ...
2018| Jörn C. Richstein, Casimir Lorenz, Karsten Neuhoff
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DIW Discussion Papers 1764 / 2018
Tests for identification through heteroskedasticity in structural vector autoregressive analysis are developed for models with two volatility states where the time point of volatility change is known. The tests are Wald type tests for which only the unrestricted model including the covariance matrices of the two volatility states have to be estimated. The residuals of the model are assumed to be from ...
2018| Helmut Lütkepohl, Mika Meitz, Aleksei NetŠunajev, Pentti Saikkonen
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DIW Discussion Papers 1763 / 2018
The human personality predicts a wide range of activities and occupational choices—from musical sophistication to entrepreneurial careers. However, which method should be applied if information on personality traits is used for prediction and advice? In psychological research, group profiles are widely employed. In this contribution, we examine the performance of profiles using the example of career ...
2018| Alexander Konon, Alexander Kritikos
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DIW Discussion Papers 1762 / 2018
Methods for constructing joint confidence bands for impulse response functions which are commonly used in vector autoregressive analysis are reviewed. While considering separate intervals for each horizon individually still seems to be the most common approach, a substantial number of methods have been proposed for making joint inferences about the complete impulse response paths up to a given horizon. ...
2018| Helmut Lütkepohl, Anna Staszewska-Bystrova, Peter Winker
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DIW Discussion Papers 1761 / 2018
This paper considers a fundamental question about the school environment – what are the long run effects of a student’s ordinal rank in elementary school? Using administrative data from all public school students in Texas, we show that students with a higher third grade academic rank, conditional on ability and classroom effects, have higher subsequent test scores, are more likely to take AP classes, ...
2018| Jeffrey T. Denning, Richard Murphy, Felix Weinhardt
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DIW Discussion Papers 1760 / 2018
This paper studies the extent to which working couples can insure one another against cyclical fluctuations in the labor market and examines the implications of joint household decision-making for cyclical fluctuations in the unemployment rate. For this purpose, I provide a dynamic life-cycle model of households that make joint savings and job search decisions in the presence of aggregate shocks. I ...
2018| Haomin Wang
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DIW Discussion Papers 1759 / 2018
With the increasing frequency and intensity of extreme weather events due to climate change, assessing the potential long-term effects of these events for affected households is critically important. This study analyzes to what extent a one-off extreme weather event can have persistent effects on household-level asset growth. Our focus is on the effect of a once-in-50-year winter disaster on post-shock ...
2018| Katharina Lehmann-Uschner, Kati Krähnert
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DIW Discussion Papers 1758 / 2018
The paper extends a static discrete-choice labor supply model by adding participation and hours constraints. We identify restrictions by survey information on the eligibility and search activities of individuals as well as actual and desired hours. This provides for a more robust identification of preferences and constraints. Both, preferences and restrictions are allowed to vary by and are related ...
2018| Kai-Uwe Müller, Michael Neumann, Katharina Wrohlich
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DIW Discussion Papers 1757 / 2018
Regulatory bank levies set incentives for banks to reduce leverage. At the same time, corporate income taxation makes funding through debt more attractive. In this paper, we explore how regulatory levies affect bank capital structure, depending on corporate income taxation. Based on bank balance sheet data from 2006 to 2014 for a panel of EU-banks, our analysis yields three main results: The introduction ...
2018| Franziska Bremus, Kirsten Schmidt, Lena Tonzer
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DIW Discussion Papers 1756 / 2018
Since the seminal paper of Hoffman et al. (1994), an entitlement effect is believed to exist in the Ultimatum Game, in the sense that proposers who have earned their role (as opposed to having it randomly allocated) offer a smaller share of the pie to their matched responder. The entitlement effect is at the core of experimental Public Choice – not just because it concerns the topics of bargaining ...
2018| Elif E. Demiral, Johanna Mollerstrom
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DIW Discussion Papers 1755 / 2018
This paper investigates the evolution of inflation dynamics in the five largest ASEAN countries between 1997 and 2017. To account for changes in the monetary policy frameworks since the Asian Financial Crisis (AFC), the analysis is based on country-specific Phillips Curves allowing for time-varying parameters. The paper finds evidence of a higher degree of forward-looking dynamics and a better anchoring ...
2018| Geraldine Dany-Knedlik, Juan Angel Garcia
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DIW Discussion Papers 1754 / 2018
We estimate the effect of government spending shocks on the US economy with a time-varying parameter vector autoregression. The recent Great Recession period appears to be characterized by uniquely large impulse responses of output to fiscal shocks. Moreover, the particularity of this period is underlined by highly unusual responses of several other variables. The pattern of fiscal shock responses ...
2018| Mathias Klein, Ludger Linnemann
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DIW Discussion Papers 1753 / 2018
It is well established that teachers are the most important in-school factorin determining student outcomes. However, to date there is scant robustquantitative research demonstrating that teacher training programs can havelasting impacts on student test scores. To address this gap, weconduct andevaluate a teacher peer-to-peer observation and feedback program underRandomized Control Trial (RCT) conditions. ...
2018| Richard Murphy, Felix Weinhardt, Gill Wyness
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DIW Discussion Papers 1752 / 2018
Using a laboratory experiment, we present first evidence that social image concerns causally reduce the take-up of an individually beneficial transfer. Our design manipulates the informativeness of the take-up decision by varying whether transfer eligibility is based on ability or luck, and how the transfer is financed. We find that subjects avoid the inference both of being low-skilled (ability stigma) ...
2018| Jana Friedrichsen, Tobias König, Renke Schmacker
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DIW Discussion Papers 1751 / 2018
The use of video recordings in experimental economics has become increasingly popular. However, little attention is paid to how this might affect the composition of the participating subjects and the intended treatment effect. We make a first attempt to shed light on these issues and address them in an incentivized face-to-face tax compliance experiment. The experiment contains two dimensions; i) the ...
2018| Tim Lohse, Salmai Qari
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DIW Discussion Papers 1750 / 2018
Different bootstrap methods and estimation techniques for inference for structural vector autoregressive (SVAR) models identified by conditional heteroskedasticity are reviewed and compared in a Monte Carlo study. The model is a SVAR model with generalized autoregressive conditional heteroskedastic (GARCH) innovations. The bootstrap methods considered are a wild bootstrap, a moving blocks bootstrap ...
2018| Helmut Lütkepohl, Thore Schlaak
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DIW Discussion Papers 1749 / 2018
We develop a structural vector autoregressive framework that combines external instruments and heteroskedasticity for identification of monetary policy shocks. We show that exploiting both types of information sharpens structural inference, allows testing the relevance and exogeneity condition for instruments separately using likelihood ratio tests, and facilitates the economic interpretation of the ...
2018| Thore Schlaak, Malte Rieth, Maximilian Podstawski
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DIW Discussion Papers 1748 / 2018
An interaction in a fixed effects (FE) regression is usually specified by demeaning the product term. However, this strategy does not yield a genuine within estimator. Instead, an estimator is produced that reflects unit-level differences of interacted variables whose moderators vary within units. This is desirable if the interaction of one unit-specific and one time-dependent variable is specified ...
2018| Marco Giesselmann, Alexander Schmidt-Catran