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Content:Klaus Conrad, Mannheim: Engines Powered by Renewable Energy, the Network of Filling Stations and Compatibility Decisions JBNST - Vol. 229/4 - 2009, pp. 362-381.
+ show abstract- hide abstractThe paper addresses entry barriers for a new technology – hydrogen powered cars or cars with
fuel cell engines – if the network of its filling stations is missing. We use Hotelling’s model of
product differentiation to characterize a situation where an incumbent firm produces the old
technology, compatible with the existing network of filling stations, and an entrant, who cannot
use this network. The oil companies myopically support the use of the original technology
based on fossil fuel by following Hotelling’s pricing rule. This encourages the entrant to invest
in compatibility. The entrant with the new technology is a Stackelberg leader while the oldtechnology
firm is the follower. In the first stage, the entrant invests in the network of filling
stations and in the second stage both compete in prices, given the network situation. These twostep
models are repeated until the network is compatible or the oil is exhausted. The main
positive result is that the fossil fuel powered cars see theirmarket share and profitability decline
over time, while the hydrogen firmincreasingly prospers. These trends are stronger the stronger
are the consumers’ environmental concerns. On the normative side, the privately optimal pace
of investment is slower than the socially optimal pace of investment, suggesting policies that
would foster the introduction of the hydrogen technology. Available in: English Miriam Henseler, Bonn, and Joachim Plesch, Konstanz: How Can Scholarship Institutions Foster the Return of Foreign Students? JBNST - Vol. 229/4 - 2009, pp. 382-409.
+ show abstract- hide abstractWe investigate the return decision of students from developing and transition countries who
studied in Germany and received support from a scholarship institution. Using a discrete time
duration analysis and controlling for economic, political and institutional determinants, we
find that individual factors, in particular age and time spent in the host country, have a crucial
impact on the return decision. We propose selection criteria and proper contractual arrangements
that are liable to induce students to return, thereby fostering the economic development
in their home countries.Moreover, we analyze the impact of cultural differences between home
and host country on the return decision. Especially graduates from Africa seem to consider
cultural differences when deciding whether and when to return. Available in: English Heiner Imkamp, Stuttgart: Which Price-Quality Relationship Should Competition Induce on Consumer Goods Markets ? JBNST - Vol. 229/4 - 2009, pp. 410-425.
+ show abstract- hide abstractNot only that consumers take it often for granted that product prices are good indicators of
product quality, but also many experts in consumer economics expect a high positive pricequality
relationship. However, for more than 50 years numerous studies in more than 10 countries
all over the world have shown low price-quality correlation coefficients, mostly close to
0.2. These results have been interpreted twofold: (a) consumers cannot use prices as valid indicators
of quality and (b) markets do not function well. In contrast to the second interpretation,
this paper argues that, according to the economic theory of price formation, prices are not
an indicator of quality, but an indicator of scarcity. This allows the conclusion that workable
consumer goods markets, as seen from a welfare point of view, should be characterized by low
or even negative correlations between price and objective quality rather than by strong positive
coefficients. All the more it is the availability of valid information about product quality which
is necessary to enable consumers to avoid inefficient product choices. Available in: English Manuel Kallweit, Würzburg: Pension Reform and Endogenous Retirement – a Computable General Equilibrium Analysis JBNST - Vol. 229/4 - 2009, pp. 426-449.
+ show abstract- hide abstractThe paper presents a numerical general equilibrium model in which agents decide about their
retirement age. In this context policy reforms like an increase of the normal retirement age,
higher discounts for early retirement or the introduction of flat or minimum pensions are simulated.
While future generations benefit from the first two reforms, they suffer from the latter.
There are three central findings: First, higher discounts have a stronger effect on the retirement
decision than an increase in normal retirement age. Second, the timing of retirement is
significantly affected by an introduction of flat pensions. Third, models with an explicit retirement
decision can lead to different policy implications compared to models in which retirement
age is exogenous. Available in: English Daniel D. Schnitzlein, Nürnberg: Structure and Extent of Intergenerational Income Mobility in Germany JBNST - Vol. 229/4 - 2009, pp. 450-466.
+ show abstract- hide abstractThe paper examines the structure and the extent of intergenerational income mobility in Germany.
Using data from the German Socio-economic Panel it is possible to look at both, fatherson
and father-daughter pairs. In the present case the intergenerational income elasticity is 0.26
for father-son pairs and 0.36 for father-daughter pairs. A more detailed analysis is carried out,
applying a quantile regression approach. In a third step I estimate the transition matrices of
sons. Although there is some persistence at both ends of the income distribution, the results
show a high level of intergenerational mobility in Germany. Available in: English Daniel Schunk, Zürich: What Determines Household Saving Behavior? An Examination of Saving Motives and Saving Decisions JBNST - Vol. 229/4 - 2009, pp. 467-491.
+ show abstract- hide abstractSaving decisions are complex, since there are many concurrent motives for saving a portion of
one’s income. However, while the existing literature covers all of these motives, most contributions
select only one of them as a focus and relegate the others to the background by making
simplifying assumptions about them. While the focus on only one saving motive is vital for
many insights on aggregate saving behavior, this paper argues that further insights relevant
to policy can be gained by relaxing this assumption. Using data from a random sample of German
households and from federal official statistics, I explain how much people save under the
explicit assumption that various different saving motives co-exist. The findings show that
heterogeneity in saving behavior is systematically related to the importance that households
attach to different co-existing saving motives. This suggests that policy reforms that change the
importance of certain saving motives in the eyes of private households might influence their
saving decisions. Available in: English Jürgen Wiemers and Kerstin Bruckmeier, Nuremberg: Forecasting Behavioural and Distributional Effects of the Bofinger-Walwei Model using Microsimulation JBNST - Vol. 229/4 - 2009, pp. 492-511.
+ show abstract- hide abstractSince Germany’s social assistance reform (“Hartz-IV-Reform”) in 2005 there has been a strong
increase in the number of working poor and long-term unemployed. This development is often
attributed to the remaining disincentives of the reformed social assistance to take up a low-paid
full time job. Therefore, several proposals have been worked out to reduce these disincentives.
In this paperwe analyse an in-work benefit programme considered by theGerman government,
which follows the proposal of Bofinger et al. (2006). We employ a microsimulation model for
estimating labour supply as well as distributional and fiscal effects of this reform proposal.We
provide “morning after effects”, i.e. fiscal effects without considering behavioural adjustments,
and long run effects, which take into account the labour supply response following
the introduction of the reform.We predict the labour supply responses by estimating a discrete
choice model for different household types and find a moderate increase in labour supply
(103,000 full-time equivalents) as well as overall low negative participation effects. The distributional
analysis reveals an overall increase in poverty rates caused by lower earnings disregards
as well as substantial deadweight losses, since a large part of the in-work benefit accrues
to households who do not belong to the working poor in the status quo. Available in: English
Book Reviews Borella, Sara: Migrationspolitik in Deutschland und der Europäischen Union. Eine konstitutionenökonomische Analyse der Wanderung von Arbeitskräften JBNST - Vol. 229/4 - 2009, pp. 512-513.
John, Klaus Dieter, Dirk T.G. Rübbelke (Hrsg.): Wachstumsschranken durch schwindende Rohstoffreserven JBNST - Vol. 229/4 - 2009, pp. 514-515.
Kasten, Tanja: Monetäre und nicht-monetäre Effekte von Erwerbsunterbrechungen JBNST - Vol. 229/4 - 2009, pp. 516-516.
Neck, Reinhard, Jan-Egbert Sturm (eds.): Sustainability of Public Debt JBNST - Vol. 229/4 - 2009, pp. 517-517.
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