Aktuelle Publikationen
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(2002): Reimbursement and cost Containment : a German perspective PharmacoEconomics. 2002, 20(Supplement 3), pp. 87-94. ISSN 1170-7690. eISSN 1179-2027. Available under: doi: 10.2165/00019053-200220003-00009
This paper distinguishes short- and long-term financing problems in social health insurance systems in Germany and other European countries. The first part focuses on recent healthcare reforms in Germany that are directed at short-term problems, in particular measures of cost containment in the pharmaceutical sector such as the introduction of a drug formulary and reforms in the system of risk adjustment to enhance competition between sickness funds. The second part discusses the likely effects of the aging of the population on the sustainability of present types of mandatory insurance coverage in Germany and possible reforms that could solve the problems. It is argued that the proposed distinction between basic and supplementary benefits requires a system of explicit rationing (e.g. by age), which determines the package of basic benefits several decades in advance.
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This paper considers simultaneous modelling of seasonality, slowly changing un- conditional variance and conditional heteroskedasticity in high-frequency financial returns. A new approach, called a seasonal SEMIGARCH model, is proposed to perform this by introducing multiplicative seasonal and trend components into the GARCH model. A data-driven semiparametric algorithm is developed for estimat- ing the model. Asymptotic properties of the proposed estimators are investigated brie y. An approximate significance test of seasonality and the use of Monte Carlo confidence bounds for the trend are proposed. Practical performance of the pro- posal is investigated in detail using some German stock price returns. The approach proposed here provides a useful semiparametric extension of the GARCH model.
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In nonparametric mean regression various methods for bandwidth choice exist. These methods can roughly be divided into plug-in methods and methods based on penalizing functions. This paper uses the approach based on penalizing functions and adapt it to nonparametric quantile regression estimation, where bandwidth choice is still an unsolved problem. Various criteria for bandwidth choice are defined and compared in some simulation examples.
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Portfolio choice and the implied asset pricing are usually derived assuming maximization of expected utility. In this paper, they are derived from risk-value models which generalize the Markowitz-model. We use behaviorally based risk measure with an endogenous or exogenous benchmark
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(2001): Das Problem der beruflichen Bildung bei Adam Smith und den englischen Utilitaristen BERNINGHAUS, Siegfried K., ed. and others. Beiträge zur Mikro- und zur Makroökonomik : Festschrift für Hans Jürgen Ramser; mit 24 Tabellen. Berlin [u.a.]: Springer, 2001, pp. 129-141. ISBN 3-540-42308-7
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(2001): Hinterbliebenensicherung und Ehegattensplitting in der Sozialversicherung Zeitschrift für Wirtschaftspolitik. 2001, 50(2), pp. 169-178. ISSN 0721-3808. eISSN 2366-0317
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(2001): Zum Problem der historisch-kulturellen Bedingtheit von Berufsbildungssystemen : Gibt es eine “Vorbildfunktion” des deutschen Dualen Systems im europäischen Kontext? DEISSINGER, Thomas, ed.. Berufliche Bildung zwischen nationaler Tradition und globaler Entwicklung : Beiträge zur vergleichenden Berufsbildungsforschung. Baden-Baden: Normos Verlagsgesellschaft, 2001, pp. 13-44. Bildung und Arbeitswelt. 5. ISBN 3-7890-7644-9
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(2001): Die Berufs- und Wirtschaftspädagogik als ‘Gegenstand’ methodologischer und historiographischer Reflexion : Zum 70. Geburtstag von Professor em. Dr. Jürgen Zabeck Zeitschrift für Berufs- und Wirtschaftspädagogik. 2001, 97(4), pp. 584-586. ISSN 0172-2875. eISSN 2366-2433
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The paper proposes a technique for the estimation of possibly nonlinear panel data models in the presence of heterogeneous unit nonresponse. Attrition or unit nonresponse in panel data usually renders parameter estimators inconsistent unless the unavailable infor-mation is missing completely at random. For moment based estimators this problem can be expressed in terms of the impossibility to construct the sample equivalents of the population moments of interest. However, if the attrition process is conditionally mean independent of the variables of interest then the sample equivalents of the population moments can be recov-ered by weighting the moment functions with the conditional response probability (or propen-sity score). The latter is usually unknown and has to be estimated. In the presence of nonre-sponse heterogeneity the propensity score can be estimated by conventional parametric esti-mation methods like the multinomial logit or probit model. The technique proposed in this paper leads to a moment estimator which simultaneously exploits the weighted moment func-tions of interest and the score function of the multinomial choice model. The use of simulated moments is discussed for applications with many nonresponse reasons. An applications of the estimator to firm level data is presented where the variables of interest are R&D investments related to product and process innovations.
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(2001): Identifying intraday volatility BERNINGHAUS, Siegfried K., ed., Hans Jürgen RAMSER, ed.. Beiträge zur Mikro- und zur Makroökonomik : Festschrift für Hans Jürgen Ramser. Berlin [u.a.]: Springer, 2001, pp. 347-362. ISBN 978-3-540-42308-9
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dc.contributor.author: Gerhard, Frank
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(2001): On the Ethics of Primary Rationing in Health Care Associations : Journal for Legal and Social Theory. 2001, 5(2), pp. 195-211. ISSN 0949-7722
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(2001): Wirtschaftsprüfung JOST, Peter-J., ed. and others. Die Prinzipal-Agenten-Theorie in der Betriebswirtschaftslehre. Stuttgart: Schäffer-Poeschel, 2001, pp. 147-182. ISBN 978-3-7910-1777-8
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(2001): Systemvarianten beruflicher Qualifizierung : Eine schottisch-englische Vergleichsskizze im Zeichen der Modularisierungsdebatte Bildung und Erziehung. 2001, 54(4), pp. 439-458. ISSN 0006-2456. eISSN 2194-3834. Available under: doi: 10.7788/bue.2001.54.4.439
The problem which generates the motivation for comparing VET systems can be seen in the present and refers to the fact that the vocational education and training systems of Europe have one common trait: They differ sharply from one another. The differences in education and training between nations are not always apparent at first sight but surely well up whenever it comes to European integration. The question is whether this may also be said when looking at „intra-national" comparisons or „home internationals". In the case of England and Scotland „individual" training infrastructures may also be traced back to and reconstructed from deep-rooted traditions. On the other hand, the two countries' „educational landscapes" in general appear similar at first sight while two common features of the VET systems strike the eye: the firm belief that companies should be responsible for training and, secondly, the well-documented inclination to implement and even enforce a policy of establishing national qualification frameworks based on modular principles and linked to competence-based assessment. Against this background the article depicts some of the major differences between the two „countries".
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The recent availability of large data sets covering single transactions on financial markets has created a new branch of econometrics which has opened up a new door of looking at the microstructure of financial markets and its dynamics. The specific nature of transaction data such as the randomness of arrival times of trades, the discreteness of price jumps and significant intraday seasonalities, call for specific econometric tools combining both time series techniques as well as microeconomtric techniques arising from discrete choice analysis. This paper serves as an introduction to the econometrics of transaction data. We survey the state of the art and discuss its pitfalls and opportunities. Special emphasis is given to the analysis of the properties of data from various assets and trading mech- anisms. We show that some characteristics of the transaction price process such as the dynamics of intertrade durations are quite similar across various assets with different liquidity and regardless whether an asset is traded electronically or on the oor. How- ever, the analysis of other characteristics of transaction prices process such as volatility requires a careful choice of the appropriate econometric tool. Empirical evidence is pre- sented using examples from stocks traded electronically and on the floor at the German Stock exchange and from BUND future trading at the LIFFE and the EUREX.
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(2001): Wirtschaftsprüfung JOST, Peter-J., ed. and others. Die Spieltheorie in der Betriebswirtschaftslehre. Stuttgart: Schäffer-Poeschel, 2001, pp. 175-217. ISBN 978-3-7910-1778-5
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Diese Arbeit befaßt sich mit der strukturellen Veränderung der Bundesbank, hervorgerufen durch die Abgabe der geldpolitischen Kompetenz an die EZB.
Die angedachten Modellvarianten werden vorgestellt, nach einer theoretischen Fundierung diskutiert und abschließend bewertet. -
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dc.contributor.author: Fantapié Altobelli, Claudia
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(2001): Die Rolle von Global Brands im internationalen Wettbewerb KÖHLER, Richard, ed. and others. Erfolgsfaktor Marke : neue Strategien des Markenmanagements. München: Vahlen, 2001, pp. 189-203. ISBN 978-3-8006-2513-0
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(2001): Demographic change, endogenous labor supply and the political feasibility of pension reform Journal of Population Economics. 2001, 14(3), pp. 409-424. ISSN 0933-1433. Available under: doi: 10.1007/s001480000060
Options for reforming unfunded public pension schemes that are now being discussed all share the feature that the burden induced by demographic change would be shifted towards presently living and away from unborn generations. Existing models of the political economy of pension reform can not explain why such reform options are being discussed at all. We present an alternative model in which the possibility of evasion of workers from payment of social security taxes is taken into account by modelling a labor supply function. It turns out that the burden of demographic change may fall completely or at least predominantly on the pensioners. Thus this type of model can much better explain recent trends in legislature on unfunded public pension systems in industrial democracies.