ZEW Discussion Papers

According to the prospect theory financial investors tend to sell winners too early and ride losers too long. Hence, financial investors are changing their positions more frequently in a bull market than in a…

While health receives increasing attention from the economic profession, one can argue that the empirical analysis of household budgets has been motivated at the outset by an important aspect of the study of…

Start-ups in innovative branches require a substantial amount of capital. Their founders may not have sufficient funds to finance the implementation of the ideas alone and might therefore look for outside…

This paper analyzes the type of information contained in U.S. macroeconomic news releases in order to explain their relative impact on intraday T-bond futures prices quoted at the Chicago Board of Trade. It is…

This paper analyses the determinants of participation in higher education in West Germany. In particular, the role of social origin as well as of expectations regarding the labour market outcome of a higher…

This paper aims at providing business survey analysts with simple econometric tools to quantify qualitative survey data. We extend the traditional and commonly applied method proposed by Carlson and Parkin…

The lack of working hours flexibility is regarded as an important hindrance for work-sharing in Germany. Surveys show that employees often work more hours than they actually desire to. Given these indications on…

In this paper we investigate how restrictions for emission trading to the energy-intensive power sector will affect the magnitude and distribution of abatement costs across EU countries vis-à-vis a comprehensive…

This study focuses on the diversification benefits of the most developed equity markets of Central and Eastern Europe (CEE). To evaluate these benefits of diversification we use so-called spanning tests based on…