{"title":"In-group, out-group effects in distributional preferences: the case of gender","authors":"T. Jaber-López, Alexandra Baier, Brent J. Davis","doi":"10.1515/ger-2019-0119","DOIUrl":"https://doi.org/10.1515/ger-2019-0119","url":null,"abstract":"Abstract We examine gender differences when eliciting distributional preferences as conducted by the Equality Equivalence Test, which has the ability to classify subjects into preferences types. Preferences are elicited when individuals interact with an individual of the same gender and with an individual of the opposite gender. We find elicited preferences are robust across both in-group (same gender) and out-group (opposite gender) interactions. When analyzing the intensity of benevolence (or malevolence) we find that overall women exhibit more malevolence than men, but there is no gender difference for benevolence. Furthermore, women exhibit a higher level of in-group favoritism than men.","PeriodicalId":46476,"journal":{"name":"German Economic Review","volume":"22 1","pages":"199 - 214"},"PeriodicalIF":1.1,"publicationDate":"2020-10-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"81280365","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Survival of altruistic gatekeepers: Kickbacks in medical markets","authors":"E. Amann, S. Felder","doi":"10.1515/ger-2020-0007","DOIUrl":"https://doi.org/10.1515/ger-2020-0007","url":null,"abstract":"Abstract Patients often rely on the advice of their general practitioner (GP) to decide which treatment best fits their needs. Hospitals, in turn, might influence GPs’ referral decision through kickbacks. We present a model with a monopolistic hospital and competitive GPs who vary in the degree of altruism towards their heterogeneous patients and show that an equilibrium without crowding out exists that separates GPs into referrers and care providers. Naïve patients visit purely selfish (referring) GPs, while rational patients sort themselves between the two groups of GPs. Finally, we investigate the scope for regulation, including an optimal coinsurance rate.","PeriodicalId":46476,"journal":{"name":"German Economic Review","volume":"189 1","pages":"1 - 25"},"PeriodicalIF":1.1,"publicationDate":"2020-09-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"73259587","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Skimming through search","authors":"Evangelos Rouskas","doi":"10.1515/ger-2019-1067","DOIUrl":"https://doi.org/10.1515/ger-2019-1067","url":null,"abstract":"Abstract I examine a two-period duopolistic market for a durable good where firms compete in prices. Consumers are heterogeneous and can be described according to the following characteristics (i) high valuation and high search intensity; (ii) high valuation and low search intensity; (iii) low valuation and high search intensity; and (iv) low valuation and low search intensity. The market exhibits a new version of the so-called Coasian dynamics. The firms engage in intertemporal price discrimination and only consumers with high valuation and low search intensity purchase the product early. This result is based on a property which dictates that the consumers with high valuation and low search intensity are the most impatient. I call this the skimming through search property. When the difference between the high and the low valuation is small, there is positive probability that the prices in the first period are lower than the prices in the second period, so each firm may set a decreasing sequence of prices in a stochastic sense. Furthermore, when the percentage of consumers with high valuation increases, all consumers pay lower prices. This inter-consumer externality resembles the positive externality caused by an increase in market transparency.","PeriodicalId":46476,"journal":{"name":"German Economic Review","volume":"35 1","pages":"129 - 152"},"PeriodicalIF":1.1,"publicationDate":"2020-08-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"86545889","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Introduction to the special issue on German micro datasets","authors":"P. Egger","doi":"10.1515/ger-2020-0053","DOIUrl":"https://doi.org/10.1515/ger-2020-0053","url":null,"abstract":"","PeriodicalId":46476,"journal":{"name":"German Economic Review","volume":"17 1","pages":"271 - 271"},"PeriodicalIF":1.1,"publicationDate":"2020-08-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"88082688","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Does retail trading matter to price discovery?","authors":"Tao Chen","doi":"10.1515/ger-2019-0041","DOIUrl":"https://doi.org/10.1515/ger-2019-0041","url":null,"abstract":"Abstract The diminishing importance of retail investors and the institutionalization of markets are arguably a result of the general perception that individuals are not well informed and, hence, are better off using professional services (Davis, 2009). However, this paper provides evidence supporting the opposite. Using a global sample, we examine whether retail trading is informative around the world. Overall, retail investors are documented to enhance price efficiency by trading in the same direction as permanent price changes, contributing 24.8 % to price discovery, and accelerating the information from both scheduled and unscheduled news to be impounded into prices.","PeriodicalId":46476,"journal":{"name":"German Economic Review","volume":"68 1","pages":"475 - 492"},"PeriodicalIF":1.1,"publicationDate":"2020-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"88297746","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Sudden stop: When did firms anticipate the potential consequences of COVID-19?","authors":"L. Buchheim, Carla Krolage, S. Link","doi":"10.1515/ger-2020-0139","DOIUrl":"https://doi.org/10.1515/ger-2020-0139","url":null,"abstract":"Abstract COVID-19 hit firms by surprise. In a high frequency, representative panel of German firms, the business outlook declined and business uncertainty increased only at the time when the spread of the COVID-19 pandemic led to domestic policy changes: The announcement of nation-wide school closures on March 13 was followed by the largest change in business perceptions by far. In contrast, the data provides no evidence for the relevance of other potential sources of information on business perceptions: Firms did not learn from foreign policy measures, even if they relied on inputs from China or Italy. The local, county-level spread of COVID-19 cases affected expectations and uncertainty, albeit to a much lesser extent than the domestic policy changes.","PeriodicalId":46476,"journal":{"name":"German Economic Review","volume":"46 1","pages":"79 - 119"},"PeriodicalIF":1.1,"publicationDate":"2020-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"83215775","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Jean Roch Donsimoni, René Glawion, Bodo Plachter, Klaus Wälde
{"title":"Projecting the spread of COVID-19 for Germany","authors":"Jean Roch Donsimoni, René Glawion, Bodo Plachter, Klaus Wälde","doi":"10.1515/ger-2020-0031","DOIUrl":"https://doi.org/10.1515/ger-2020-0031","url":null,"abstract":"Abstract We model the evolution of the number of individuals reported sick with COVID-19 in Germany. Our theoretical framework builds on a continuous time Markov chain with four states: healthy without infection, sick, healthy after recovery or despite infection but without symptoms, and deceased. Our quantitative solution matches the number of sick individuals up to the most recent observation and ends with a share of sick individuals following from infection rates and sickness probabilities. We employ this framework to study inter alia the expected peak of the number of sick individuals in Germany in a scenario without public regulation of social contacts. We also study the effects of public regulations. For all scenarios we report the expected end date of the CoV-2 epidemic.","PeriodicalId":46476,"journal":{"name":"German Economic Review","volume":"5 1","pages":""},"PeriodicalIF":1.1,"publicationDate":"2020-06-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138516970","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Vanessa Dräger, Lotta Heckmann-Draisbach, Christoph Memmel
{"title":"Interest and credit risk management in German banks","authors":"Vanessa Dräger, Lotta Heckmann-Draisbach, Christoph Memmel","doi":"10.1515/GER-2019-0114","DOIUrl":"https://doi.org/10.1515/GER-2019-0114","url":null,"abstract":"Abstract Using unique data of a survey among small and medium-sized German banks, we analyze various aspects of risk management. We especially analyze the effect of a 200-bp increase in the interest level. We find that banks seem to reduce the volatility of their net interest margin by exposing themselves to interest rate risk, that they act as if they have a risk budget which they allocate either to interest rate risk or credit risk and that banks’ exposures to interest rate risk and to credit risk are remunerated. In addition, we find that, in the first year, the impairments of banks’ bond portfolios are much larger than the reductions in their net interest income, that banks attenuate the resulting write-downs by liquidating hidden reserves and that banks which use interest derivatives have lower impairments in their bond portfolios.","PeriodicalId":46476,"journal":{"name":"German Economic Review","volume":"26 1","pages":"63 - 95"},"PeriodicalIF":1.1,"publicationDate":"2020-06-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"84520100","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Carsten Schröder, Johannes König, A. Fedorets, Jan Goebel, M. Grabka, Holger Lüthen, M. Metzing, Felicitas Schikora, S. Liebig
{"title":"The economic research potentials of the German Socio-Economic Panel study","authors":"Carsten Schröder, Johannes König, A. Fedorets, Jan Goebel, M. Grabka, Holger Lüthen, M. Metzing, Felicitas Schikora, S. Liebig","doi":"10.1515/ger-2020-0033","DOIUrl":"https://doi.org/10.1515/ger-2020-0033","url":null,"abstract":"Abstract We provide a concise introduction to a household-panel data infrastructure that provides the international research community with longitudinal data of private households in Germany since 1984: the German Socio-Economic Panel (SOEP). We demonstrate the comparative strength of the SOEP data in answering economically-relevant questions by highlighting its diverse and impactful applications throughout the field.","PeriodicalId":46476,"journal":{"name":"German Economic Review","volume":"58 1","pages":"335 - 371"},"PeriodicalIF":1.1,"publicationDate":"2020-06-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"84449999","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}