infonet-economy

Increasing interconnectivity between electricity wholesale markets requires an
efficient allocation scheme in order to provide access to scarce cross-border
transmission capacities. In both the US and Europe, existing schemes have
primarily induced economically inefficient interconnector use given that flows have
to be nominated prior to spot market clearing.…

In this paper, we assess the impact of firms introducing part-time work schemes for gradual labour market exit of elderly workers on their employees' labour market outcomes. The analysis is based on unique linked employer-employee data that combine high-quality survey and administrative data. Our results suggest that partial or gradual retirement options offered by firms are an…

This article analyzes the impact of the introduction of centrally cleared credit risk transfer on a loan originating bank's lending discipline in the primary loan market. Under Basel III, a bank can transfer credit risk via central clearing at favorable regulatory conditions. Central clearing, however, reduces the lending discipline because the fact that only standardized…

If central banks value the ex-post accuracy of their forecasts, previously announced interest rate paths might affect the current policy rate. We explore whether this "forecast adherence" has influenced the monetary policies of the Reserve Bank of New Zealand and the Norges Bank, the two central banks with the longest history of publishing interest rate paths. We derive and…

This paper explains the effects of monetary policy surprises on long-term
interest rates and stock prices in terms of changes in expected inflation, real
interest rate and dividend growth, and relates these effects to markets' perceptions of economic shocks and Fed's information set. We analyze stock and bond futures price co-movements and relate them to…

Team resource management training for fire service teams has become increasingly popular. However, the effectiveness of this training, adapted from the well-established crew resource management training for flight crews, has not yet been evaluated for this audience. Ninety-one firefighters participated in a Team Resource Management seminar (experimental and control group) and in…

Few empirical studies take gender into account when analysing sustainable consumption. Even those studies that consider gender are not without shortcomings in their theorizing on gender. Drawing on insights from gender theory, we use a multilevel approach to investigate the relevance of gender to domestic energy consumption in Germany.