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Content:Bauer, Thomas K., Christoph M. Schmidt: WTP vs. WTA: Christmas Presents and the Endowment JBNST - Vol. 232/1 - 2012, pp. 4-11.
+ show abstract- hide abstractUsing data on the valuation of Christmas gifts received by students enrolled in different fields
at a German university, we investigate whether the endowment effect, the difference between
asking and bidding prices, differs between males and females, students of economics and other
fields and whether it varies with the market price of the object under consideration. Our estimation
results suggest that female students display a significantly higher endowment effect,
indicating that experimental studies on the endowment effect are highly sensitive towards the
choice of the subject pool. The results further indicate that the endowment effect depends on
the market price of the object. Finally, even though the point estimates hint towards both, a
lower WTP andWTA of economic students, these differences are not statistically significant at
conventional levels. Berger, Florian: Measuring the Knowledge Economy – Intangible Spending and Investment in Germany JBNST - Vol. 232/1 - 2012, pp. 12-30.
+ show abstract- hide abstractIntangible assets are largely ignored by the “traditional” System of National Accounts (SNA),
although they play an increasingly important economic role. The reasons for this are the substantial
measurement and valuation problems. This article applies a methodology based on
Hulten (1979) and Corrado et al. (2005) to provide some indications on the amount of investment
in intangible goods in the German economy. I discuss the proposed categorization approach
and quantify the different components for the German economy, drawing on a number
of different data sources. I show that the amount of investment in intangibles is significant.
An inclusion into the SNAwould add around Euro 142.4 bn to total investment in the German
economy in 2004. This corresponds to an increase of almost 70%. However, an international
comparison shows that Germany falls short in terms of intangible spending relative to the US
and UK. Hofmann, Barbara: Short- and Long-term Ex-Post Effects of Unemployment Insurance Sanctions JBNST - Vol. 232/1 - 2012, pp. 31-60.
+ show abstract- hide abstractUnemployment insurance (UI) benefit sanctions in form of benefit reductions are intended to
set an incentive to comply with job search requirements and to decrease moral hazard behaviour.
However, sanctions might also affect the subsequent employment history. Empirical
research on long-term effects is scarce. Using administrative data, we investigate short- and
long-term effects of sanctions on the reemployment probability of individuals inWestGermany
who entered UI benefit receipt between April 2000 andMarch 2001. As outcomes we consider
regular employment, other employment, and having dropped out of the registered labour
market. By applying a matching approach that takes the timing of treatment into account,
we identify the ex post effect of UI sanctions. According to our results, sanctions are effective
in increasing the probability of regular employment for young sanctioned UI benefit recipients.
Older women on average respond to a sanction by taking up jobs of lower quality. For both
women and men, we find an increased number of months out of the official work force after a
sanction. Kumpmann, Ingmar, Michael Gühne, Herbert S. Buscher: Old Age Poverty – Causes and a Projection for 2023 JBNST - Vol. 232/1 - 2012, pp. 61.
+ show abstract- hide abstractSeveral factors bring about a rise in old age poverty in Germany, especially in East Germany.
Using data from the German Socio-economic Panel (SOEP) we examine causes and extent of
old age poverty in Germany. We begin our inquiry with a cross section regression in order to
determine the impact of several factors on retirement incomes in Germany. In the second step
we performan income projection of today’s 50 to 55 year-old people for the year 2023. In doing
so, we take into account different sources of income, including several forms of capital income
and the calculated rent of owner-occupied houses and flats.We find a significant rise in old age
poverty especially in East Germany as a consequence of rising unemployment after the German
unification.
Discussion Paper Seitz, Franz, Dietrich Stoyan, Karl-Heinz Tödter: Coin Migration and Seigniorage within the Euro Area JBNST - Vol. 232/1 - 2012, pp. 84-92.
Book Review May, Uwe, Cosima Bauer: Regulierungsinstrumente in der GKV-Arzneimittelversorgung - Eine ordnungspolitische Analyse JBNST - Vol. 232/1 - 2012, pp. 93-93.
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