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WIFO-Publikationen und Projektberichte(48 Treffer)

Peter Egger, Yvonne Wolfmayr, What Economists Should Know About International Goods Trade Data

WIFO Working Papers, 2014, (475), 49 Seiten
The analysis of bilateral trade flows features prominently in empirical research in international economics. Various different international statistical sources are available for researchers and commonly used. Unfortunately, the data happen to differ quite substantially across the different sources. It is the task of this project to identify those differences, quantify them, and track their origin and to demonstrate the consequences of differences in the data for estimation of fundamental relationships such as the gravity equation. We find the largest discrepancies in a comparison of UN and OECD databases to the IMF and Eurostat trade data. In the most extreme cases the differences to reported trade flows in other data sources amount to as much as 40 billion $ in measured export flows and to as much as 50 billion $ in bilateral "mirrored imports". Most importantly we find that these differences carry over to econometric results in applications of the gravity model, one of the workhorses of empirical trade research. Parameters of key variables such as log bilateral distance, common borders, common language, or a colonial relationship dummy variable vary substantially and do not even have a stable sign when using one database versus the other. Hence, heterogeneous reporting standards across data sources and the inhomogeneous sample coverage have a non-trivial impact on the quantifications of trade costs in empirical research.
 
Online seit: 30.06.2014 0:00

Peter Egger, Yvonne Wolfmayr, What Economists Should Know About International Goods Trade Data

Projektberichte (abgeschlossen), Juli 2011
The analysis of bilateral trade flows features prominently in empirical research in international economics. Various different international statistical sources are available for researchers and commonly used. Unfortunately, the data happen to differ quite substantially across the different sources. It is the task of this project to identify those differences, quantify them, and track their origin and to demonstrate the consequences of differences in the data for estimation of fundamental relationships such as the gravity equation. We find the largest discrepancies in a comparison of UN and OECD databases to the IMF and Eurostat trade data. In the most extreme cases the differences to reported trade flows in other data sources amount to as much as $ 40 billion in measured export flows and to as much as $ 50 billion in bilateral "mirrored imports". Most importantly we find that these differences carry over to econometric results in applications of the gravity model, one of the workhorses of empirical trade research. Parameters of key variables such as log bilateral distance, common borders, common language, or a colonial relationship dummy variable vary substantially and do not even have a stable sign when using one database versus the other. Hence, heterogeneous reporting standards across data sources and the inhomogeneous sample coverage have a nontrivial impact on the quantifications of trade costs in empirical research.
Final Report to the Jubiläumsfonds, Project-No 13355, Co-ordinator: Peter Egger
 
Mit finanzieller Unterstützung von: Jubiläumsfonds der Oesterreichischen Nationalbank
Studie von: Österreichisches Institut für Wirtschaftsforschung

Franz R. Hahn, Peter Egger, Corporate Ownership and Performance. Going Public versus Going Private in Europe

WIFO Working Papers, 2010, (358), 35 Seiten
This paper conducts an in-depth analysis of the impact of acquisitions, initial public offerings and management buyouts on productivity and profitability of a large sample of Europe-based manufacturing companies covering the period from 1996 to 2005. At the center of our analysis is the perception that the performance evaluation of governance-related activities in the business sector such as ownership changes is similar in spirit to the assessment of treatment effects in the evaluation literature. We use propensity score matching techniques in order to resolve the missing data and the selection problem and find evidence corroborating the view that efficiency gains are strongest for those ownership changes that establish corporate governance structures with low principal-agent costs.
 

Peter Egger, Bilateral FDI Potentials for Austria, in: Special Issue on Foreign Direct Investment and Economic Policy

Empirica, 2010, 37(1), S.5-17, http://www.springer.com/10663
Similar to the discrepancy between "normal" and "actual" bilateral trade, one may ask the question about the difference between "normal" and actual bilateral multinational activity. However, with multinational activity, zero bilateral data and heteroskedasticity are very important, even more so than with trade data. Therefore, this paper suggests using generalized linear rather than log-linear models to specify "normal" FDI and obtain estimates of unexhausted FDI potentials. I use panel data on Austria's bilateral multinational activity across 25 countries and 7 country-blocs, 4 sectors and 13 years to illustrate the disadvantage of log-linear model estimation at quasi-maximum likelihood estimation.
 

Peter Egger, Bilateral FDI Potentials for Austria

FIW – Forschungsschwerpunkt Internationale Wirtschaft, Juni 2008, 28 Seiten, http://www.fiw.ac.at/
   
Trade economists have long considered gravity models to estimate unexhausted potentials for bilateral trade. Similar to the discrepancy between "normal" and "actual" bilateral trade, one may ask the question about the difference between "normal" and actual bilateral multinational activity. However, with multinational activity, zero bilateral data and heteroscedasticity are very important, even more so than with trade data. Therefore, this paper suggests using generalised linear rather than log-linear models to specify "normal" FDI and obtain estimates of unexhausted FDI potentials. It uses panel data on Austria's bilateral multinational activity across 25 countries and 7 country blocs, 4 sectors and 13 years to illustrate the disadvantage of log-linear model estimation at quasi-maximum likelihood estimation.
Arbeitspaket N°2 Direktinvestitionen: Modul 1, Teilmodul 1.3 • Projektkoordination: Yvonne Wolfmayr, Irene Langer
 
Studie von: Österreichisches Institut für Wirtschaftsforschung
Auftraggeber: Bundesministerium für Wirtschaft und Arbeit

Peter Egger, Intermediate Goods Trade and International Wage Convergence in Central Europe

Empirica, 2006, 33(4), S.181-192
   
 

Peter Egger, Franz R. Hahn, Endogenous Bank Mergers and Their Impact on Banking Performance

WIFO Working Papers, 2006, (271), 30 Seiten
This paper examines the effect of mergers on the performance of banks. We use a unique and exhaustive panel data set of mergers of Austrian banks covering the period from 1996 to 2002. A probit selection equation is formulated to explain the adoption of a merger strategy. We use various matching techniques to estimate the treatment effects of bank mergers on the banks' performance. The analysis provides evidence in favour of the view that there are longer lasting positive effects on bank performance, especially, in terms of improved cost efficiency. The findings also suggest that pre-merger effects are likely to occur in terms of higher cost efficiency immediately before the establishment of the merger. Finally, smaller banks involved in merger activities are more likely to enjoy cost-efficiency gains earlier than larger banks.
 

Peter Egger, Michael Pfaffermayr, Concentration and Multinationalty in European Manufacturing: What's the Effect on Productivity?

Empirica, 2004, 31(4), S.325-332
   
 

Thiess Büttner (ZEW), Peter Egger (Universität Innsbruck), Peter Huber (WIFO), Anna Iara (ZEI), Michael Pfaffermayr (Universität Innsbruck), Johannes Rincke (ZEW), Yvonne Wolfmayr (WIFO), The Impact of Integration on Wages and Employment in Border Regions

AccessLab – Regional Labour Market Adjustments in the Accession Candidate Countries, November 2004, 155 Seiten
   
This report brings together three case studies on the effects of integration of border regions and the regional distribution of economic activity. These case studies include analyses of: the effects of previous enlargements on employment, wage and population growth as well as investment rates, the effect of German unification on the former border regions on western German regional labour markets in the time period from 1987 to 2000, the effects of the opening of candidate countries in the 1990s on gross and net employment changes and firm creation in border regions of Austria. Furthermore, this report comprises three research papers focusing on long-run regional growth in the new EU member states and accession candidate countries. The common theme of these papers is to identify potential effects of integration on regional disparities in candidate countries.
 
Studie von: Österreichisches Institut für Wirtschaftsforschung
Auftraggeber: Europäische Kommission, DG Research, 5. Rahmenprogramm

Peter Egger, Thomas Url, Public Export Guarantees and Foreign Trade Structure

WIFO Working Papers, 2004, (215), 24 Seiten
 
Online seit: 19.01.2004 0:00
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