infonet-economy

We provide new evidence on the effectiveness of West German labour market programmes by evaluating training and employment programmes that have been conducted 2000-2002 after the first large reform of German labour market policy in 1998. We employ exceptionally rich administrative data that allow us to use microeconometric matching methods and to estimate interesting effects for...

We consider a reduced form model with acquisitions and entry. There are two investors and several small non-investing firms. One investor can acquire a small firm, the other investor decides about market entry. After that all firms play an oligopoly game. We derive conditions under which increasing market concentration arises with myopic firms. We apply the framework to a Cournot...

In der Vergangenheit hat die Versicherungsbranche
zur Verbesserung der technischen
Ergebnisse vornehmlich auf traditionelle Konzepte
und Effizienzsteigerungsmassnahmen
gesetzt. Angesichts der anstehenden Herausforderungen
scheint jedoch zukünftig eine
konsequente Anwendung industrieller Methoden
entlang der gesamten Wertschöpfungskette
...

Applied researchers often test for the difference of the Sharpe ratios of two investmentnstrategies. A very popular tool to this end is the test of Jobson and Korkie (1981), whichnhas been corrected by Memmel (2003). Unfortunately, this test is not valid when returnsnhave tails heavier than the normal distribution or are of time series nature. Instead, wenpropose the use of robust...

This paper investigates the dynamic effects of rainfall shocks on agroecosystems productivity. The analysis estimates a panel data model of cereal production in southern Italy. It documents the adverse effects of a reduction in rainfall on the agroecosystem productivity both in the short run and the long run. It investigates how increasing the level of spatial crop diversity can...