Diskussionspapiere 1393 / 2014
Expectations form the basis of economic decisions of market participants in an uncertain world. Sentiment indicators reflect those expectations and thus have a proven track record for predicting economic variables. However, respondents of surveys perceive the world to a large extent with the help of media. So far, mainly very crude media information, such as word-count indices, has been used in the ...
2014| Konstantin A. Kholodilin, Tobias Thomas, Dirk Ulbricht
DIW Economic Bulletin 41 / 2017
For social and economic reasons, national economies benefit from the inclusion of as many people as possible in financial services. In a cross country study, the present study shows that financial literacy for the general population promotes financial inclusion. This relationship goes beyond the effect of higher economic or financial development. And the effect of higher levels of financial literacy ...
2017| Antonia Grohmann, Lukas Menkhoff
Externe referierte Aufsätze
A shift from zonal to nodal pricing improves the efficiency of system operation. However, resulting price changes also shift surplus across generation and loads at different locations. As individual actors can lose, they might oppose any reform. We explore how allocation of financial transmission rights can be used to mitigate the distributional impact. The fundamental effects with regard to reference ...
60 (2016), S. 176-185
| Friedrich Kunz, Karsten Neuhoff, Juan Rosellón
Externe referierte Aufsätze
In an uncertain world, decisions by market participants are based on expectations. Therefore, sentiment indicators reflecting expectations have a proven track record at predicting economic variables. However, survey respondents largely perceive the world through media reports. Here, we want to make use of that. We employ a rich dataset provided by Media Tenor International, based on sentiment analysis ...
Journal of Forecasting
36 (2017), 5, S. 483-496
| Konstantin A. Kholodilin, Dirk Ulbricht, Tobias Thomas
Diskussionspapiere 1664 / 2017
We present an ex-post analysis of the effects of GDF’s acquisition of Suez in 2006 created one of the world’s largest energy companies. We perform an econometric analysis, based on Difference-in-Difference techniques on the market for trading on the Zeebrugge gas hub in Belgium. Removing barriers to entry and facilitating access to the hub through ownership unbundling were an important part of the ...
2017| Elena Argentesi, Albert Banal-Estanol, Jo Seldeslachts, Meagan Andrews
The significance of the manufacturing sector for the economies of both the European Union and the euro area has declined dramatically over the past ten years. However, development varied between the individual member states, which is particularly evident in a comparison between Germany and France. The manufacturing industry in Germany was able to maintain its position within the national economy, halting ...
DIW Economic Bulletin 5 / 2012
Between 2000 and 2009, China became the second largest industrialized nation, while manufacturing industries in other emerging and many Eastern European countries also experienced very strong growth. However, Germany was largely able to maintain its share of global industrial output. In 2009, as in 2000, Germany's value added share represented around 6.5 percent. This shows that Germany as an industrial ...
2012| Martin Gornig, Alexander Schiersch
Weekly Report 16 / 2010
The German mechanical engineering industry, dominated by medium-sized companies, is greatly successful - both on the domestic and on the international market. A first analysis conducted by DIW Berlin reveals that this success cannot be attributed to a better exploitation of potential efficiencies - mechanical engineering is about as efficient as other key sectors (for instance the chemical industry). ...
2010| Alexander S. Kritikos, Alexander Schiersch
Diskussionspapiere 949 / 2009
This paper aims to examine the relative efficiency of German engineering firms using a sample of roughly 23,000 observations between 1995 and 2004. As these firms had been successful in the examination period in terms of output- and export-growth, it is expected that a majority of firms is operating quite efficiently and that the density of efficiency scores is skewed to the left. Moreover, as the ...
2009| Alexander Schiersch
Diskussionspapiere 149 / 1997
National science and technology (S&T) systems are often mentioned as a condition for competitiveness of high technology sectors. Therefore, public S&T policies should actively support the development of national S&T systems. In particular in Eastern Europe an active S&T policy is often demanded to support the development of the supposed domestic "high technology potential". This paper shows that this ...
1997| Jürgen Bitzer