Das transatlantische Freihandelsabkommen — Relativierung von Chancen und Risiken

Since June 2013, negotiations have been underway between the U.S. and the EU on the Transatlantic Trade and Investment Partnership (TTIP). Proponents of the envisaged agreement predict significantly positive effects on growth and employment. Critics, however, fear a reduction of existing standards, such as consumer or environmental protections, or abuse of the scheduled Investor- State Dispute Settlement (ISDS). The often very contrary positions recall the hopes and fears associated with the establishment of the European Single Market in the early 1990s. Against the background of the realised growth and employment effects of the much wider EU single market project and the significantly lower economic ties between the EU and the U.S., both the expected growth momentum as well as the potential risks of the TTIP need to be qualified.     

The Multifaceted Impact of Corruption on International Trade

The purpose of this paper is to perform a detailed examination of corruption effects on trade based on corruption characteristics known to affect economic exchange within the corruption research field. These characteristics are the level, prevalence, customs location, function and predictability of corruption. The multifaceted corruption impact on trade is empirically examined using a corruption‐augmented gravity equation. The equation is estimated using a Heckman version of a GMM instrumental variable method. Our results provide strong evidence of that import flows vary systematically with the investigated corruption characteristics and enable the identification of channels through which corruption affects international trade. The empirical investigation clearly indicates the need to examine the multifaceted role of corruption to properly assess the trade effects of corruption.     

Immigration and the Property Market: Evidence from England and Wales

This article investigates the link between immigration and property markets in England and Wales. Evidence from fixed effects and shift‐share–based instrumental variable regressions suggests that an increase in regional immigration, depending on the specification, either decreases prices at the lower end of the distribution up to the median or leaves them unchanged and has (almost) no effect on mean property prices or prices above the median. The evidence suggests that these findings can be explained through an interaction between the markets for rented and owned properties as well as through changes in the usage of housing space.     

The influence of extrinsic product attributes on consumers’ food decisions: review and network analysis of the marketing literature

ABSTRACT

The paper synthesises the existing research on the influence of key product characteristics on the consumers’ food decision-making. By applying network analysis on a sample of 233 empirical studies from the last three decades, the paper demonstrates how marketing-specific variables are embedded in a network of other predictors. The paper also analyses network structure and density using well established measures. The results show that there is still a lack of research concerning the interplay between marketing-relevant extrinsic product attributes (e.g. price, brand, labelling, country of origin) and intrinsic food attributes, policy-related factors, as well as aspects of the proximal and distal environment. The paper identifies gaps in the marketing literature and derives research propositions. Additionally, implications for marketing practice are developed.     

Digitale Ordnungspolitik — Wirtschaftspolitik daten- und evidenzbasiert weiterentwickeln

Wirtschaftsdienst - Die Digitalisierung bringt weitreichende Änderungen für Wirtschaft und Gesellschaft mit sich. Vor diesem Hintergrund hat das Bundesministerium für Wirtschaft und...     

Predicting new service adoption with conjoint analysis: external validity of BDM-based incentive-aligned and dual-response choice designs

In this paper, we compare the standard, single-response choice-based conjoint (CBC) approach with three extended CBC procedures in terms of their external predictive validity and their ability to realistically capture consumers’ willingness to pay: (1) an incentive-aligned CBC mechanism (IA-CBC), (2) a dual-response CBC procedure (DR-CBC), and (3) an incentive-aligned dual-response CBC approach (IA-DR-CBC). Our empirical study features a unique sample of 2,679 music consumers who participated in a conjoint choice experiment prior to the market entry of a new music streaming service. To judge the predictive accuracy, we contacted the same respondents again 5 months after the launch and compared the predictions with the actual adoption decisions. The results demonstrate that IA-CBC and DR-CBC both increase the predictive accuracy. This result is promising because IA-CBC is not applicable to every research context so that DR-CBC provides a viable alternative. While we do not find an additional external validity improvement through the combination of both extensions, the IA-DR-CBC approach yields the most realistic willingness-to-pay estimates and should therefore be preferred when incentive alignment is feasible.     

Optimally locating in-house logistics areas to facilitate JIT-supply of mixed-model assembly lines

In modern-day production systems, ever-rising product variety poses a great challenge for the internal logistics systems used to feed mixed-model assembly lines with the required parts. As an answer to this challenge many manufacturers especially from automobile industries have identified the supermarket-concept as a promising part feeding strategy to enable flexible small-lot deliveries at low cost. In this context, supermarkets are decentralized in-house logistics areas in the direct vicinity of the final assembly line, which serve as intermediary stores for parts. Small tow trains are loaded with material in a supermarket and deliver parts Just-in-Time to the stations lying on their fixed route. This paper discusses the general pros and cons of the supermarket-concept and treats the decision problem of determining the optimal number and placement of supermarkets on the shop floor. A mathematical model is proposed, an exact dynamic programming algorithm presented, and the validity of the proposed approach for practical purposes as well as the trade-off resulting from fixed installation and maintenance cost is investigated in a comprehensive computational study.     

The effect of tax revenue budgeting errors on fiscal balance: evidence from the Swiss cantons

This study is an empirical analysis of the impact of direct tax revenue budgeting errors on fiscal deficits. Using panel data from 26 Swiss cantons between 1980 and 2002, we estimate a single equation model on the fiscal balance, as well as a simultaneous equation model on revenue and expenditure. We use new data on budgeted and actual tax revenue to show that underestimating tax revenue significantly reduces fiscal deficits. Furthermore, we show that this effect is channeled through decreased expenditure. The effects of over and underestimation turn out to be symmetric.     

Kapazitätsauslastung im Ausland als Indikator für die deutschen Investitionsgüterexporte

The German export industry has traditionally specialised in the supply of capital goods. For this reason, forecasting the exports of capital goods is not only useful for fi rms operating in this sector but also for forecasting total German exports. An important determinant of the demand for capital goods from a theoretical point of view is capacity utilisation. We present an indicator of capacity utilisation in countries that import German goods and show its usefulness for forecasting German capital goods exports. Thus, this indicator is a valuable complement to the set of indicators available for forecasting German exports.