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Aktuelle Ausgaben(535 Treffer)

Peter Huber, Eva Abramuszkinová Pavlíková, Marcela Basovníková, The Impact of CSR Certification on Firm Profitability, Wages and Sales

WIFO Working Papers, 2017, (535), 36 Seiten
We use synthetic control group methods to analyse the causal impact of CSR certification on the economic performance of a small set of Italian manufacturing firms that underwent SA8000 certification in 2009 or 2010. We find no evidence of a positive or negative impact of SA8000 certification on firm profitability and wages. The only outcome variable for which effects are positive and weakly significant in many instances are firms' turnover to assets ratios. From this we conclude that SA8000 certification has no strong impact on firm profitability and wage costs, but that it may be a viable marketing tool that increases company sales.
 
Online seit: 22.05.2017 0:00

Harald Oberhofer, Marian Schwinner, Do Individual Salaries Depend On the Performance of the Peers? Prototype Heuristic and Wage Bargaining in the NBA

WIFO Working Papers, 2017, (534), 34 Seiten
This paper analyses the link between relative market value of representative subsets of athletes in the National Basketball Association (NBA) and individual wages. NBA athletes are categorised with respect to multiple performance characteristics utilising the k-means algorithm to cluster observations and a group's market value is calculated by averaging real annual salaries. Employing GMM estimation techniques to a dynamic wage equation, we find a statistically significant and positive effect of one-period lagged relative market value of an athletess representative cluster on individual wages after controlling for past individual performance. This finding is consistent with the theory of prototype heuristic, introduced by Kahneman and Frederick (2002), that NBA teams' judgement about an athlete's future performance is based on a comparison of the player to a prototype group consisting of other but comparable athletes.
 
Online seit: 09.05.2017 0:00

Matthias Firgo, Klaus Nowotny, Alexander Braun, Informal, Formal, or Both? Assessing the Drivers of Home Care Utilization in Austria Using a Simultaneous Decision Framework

WIFO Working Papers, 2017, (533), 36 Seiten
Understanding the relation between different types of long-term care and the determinants of individual choice of long-term care types is fundamental for efficient policy making in times of ageing societies. However, empirical research on this issue has revealed both national and methodological factors as crucial for the policy conclusions drawn. Thus, the purpose of the present paper is twofold: First, at least to our knowledge, it is the first comprehensive assessment of this kind for Austria. Second, it extends the scarce literature explicitly focusing on the combined use of informal and formal care in addition to the exclusive use of these services based on an econometric framework accounting for the simultaneity and interdependencies in these types of long-term care. Our results provide strong evidence for a task-specific and complementary relation of formal and informal home care in Austria, with the health status and functional limitations as the main determinants of individual choice.
 
Online seit: 12.04.2017 0:00

Fritz Breuss, A Macroeconomic Model of CETA's Impact on Austria

WIFO Working Papers, 2017, (532), 33 Seiten
The Comprehensive Economic and Trade Agreement (CETA) between the European Union and Canada is the most ambitious (new generation) free trade agreement the EU has ever negotiated. It is a "mixed" agreement with EU and member countries competences. Most elements of the agreement for which the EU has "exclusive competence", including the chapter on tariffs and non-tariff barriers (the dismantling of all barriers to trade in goods and services and market access to foreign direct investment) can – after the European Parliament gave its consent on 15 February 2017 – be applied provisionally in spring 2017. With a specifically constructed macroeconomic trade and growth model for Austria, we simulate the impact of CETA on Austria. CETA will add 0.3 percent to Austria's real GDP in the medium run and will stimulate bilateral trade and FDI. Our model is a small prototype model and can easily be applied to other foreign trade agreements the EU is planning. A comparison shows that TTIP – which is "politically" dead now – would have the biggest impact (real GDP +1.7 percent).The almost finished negotiated EU-Japan foreign trade agreement would result in an increase of Austria's real GDP by 0.4 percent in the medium run.
 
Online seit: 31.03.2017 0:00

Cornelius Hirsch, Harald Oberhofer, Bilateral Trade Agreements and Trade Distortions in Agricultural Markets?

WIFO Working Papers, 2017, (531), 26 Seiten
Agricultural support levels are at a crossroad with reduced distortions in OECD countries and increasing support for agricultural producers in emerging economies over the last decades. This paper studies the determinants of distortions in the agricultural markets by putting a specific focus on the role of trade policy. Applying different dynamic panel data estimators and explicitly accounting for potential endogeneity of trade policy agreements, we find that an increase in the number of bilateral free trade agreements exhibits significant short- and long-run distortion reducing effects. By contrast, WTO's Uruguay Agreement on Agriculture has not been able to systematically contribute to a reduction in agriculture trade distortions. From a policy point of view our findings thus point to a lack of effectiveness of multilateral trade negotiations.
 
Online seit: 22.02.2017 0:00

Fritz Breuss, Would DSGE Models have Predicted the Great Recession in Austria?

WIFO Working Papers, 2016, (530), 24 Seiten
DSGE (Dynamic stochastic general equilibrium) models are the common workhorse of modern macroeconomic theory. Whereas story-telling and policy analysis were in the forefront of applications since its inception, the forecasting perspective of DSGE models is only recently topical. In this study, we perform a post-mortem analysis of the predictive power of DSGE models in the case of Austria's recession in 2009. For this purpose, 8 DSGE models with different characteristics (small and large models, closed and open economy models, one and two-country models) were used. The initial hypothesis was that DSGE models are inferior in ex-ante forecasting a crisis. Surprisingly however, it turned out that not all but those models which implemented features of the causes of the global financial crisis (like financial frictions or interbank credit flows) could not only detect the turning point of the Austrian business cycle early in 2008 but they also succeeded in forecasting the following severe recession in 2009. In comparison, non-DSGE methods like the ex-ante forecast with the Global Economic (Macro) Model of Oxford Economics and WIFO's expert forecasts performed not better than DSGE models in the crisis.
 
Online seit: 08.11.2016 0:00

Jürgen Janger, Torben Schubert, Petra Andries, Christian Rammer, Machteld Hoskens, The EU 2020 Innovation Indicator. A Step Forward in Measuring Innovation Outputs and Outcomes?

WIFO Working Papers, 2016, (529), 40 Seiten
In October 2013, the European Commission presented a new indicator intended to capture innovation outputs and outcomes and thereby "support policy-makers in establishing new or reinforced actions to remove bottlenecks that prevent innovators from translating ideas into products and services that can be successful on the market". This paper aims to evaluate the usefulness of the new indicator against the background of the difficulties in measuring innovation outputs and outcomes. We develop a unique conceptual framework for measuring innovation outcomes that distinguishes structural change and structural upgrading as two key dimensions in both manufacturing and services. We conclude that the new indicator is biased towards a somewhat narrowly defined "high-tech" understanding of innovation outcomes. We illustrate our framework proposing a broader set of outcome indicators capturing also structural upgrading. We find that the results for the modified indicator differ substantially for a number of countries, with potentially wide-ranging consequences for innovation and industrial policies.
 
Online seit: 08.11.2016 0:00

Monika Köppl-Turyna, Hans Pitlik, Do Equalisation Payments Affect Subnational Borrowing? Evidence From Regression Discontinuity

WIFO Working Papers, 2016, (528), 36 Seiten
According to the fiscal federalism literature sub-central budget constraints become softer when local governments are more dependent on revenues over which they have no discretion. As a consequence of higher "transfer dependency", sub-central governments can expect to be bailed out by the central government and therefore tend to accumulate higher levels of debt. We test this conjecture with data from Austrian municipalities. Austria is a fiscally highly centralised federation in which tax autonomy at the sub-central level is almost absent. Our identification strategy is based on a discontinuity caused by a special regulation on population weights in the tax sharing agreement between central government and the municipalities. We analyse the discontinuity in the conditional expectation of borrowing given population size to unveil an average causal effect of the treatment. Our results indicate that in line with theoretical expectations municipalities with higher revenue dependency observe higher net borrowing per capita. We also find that almost one half of the observed discontinuity works through an investment channel. Net borrowing is spatially correlated.
 
Online seit: 27.10.2016 0:00

Klaus S. Friesenbichler, Inflation and Broadband Revisited. Evidence from an OECD Panel

WIFO Working Papers, 2016, (527), 15 Seiten
This note revisits the conjecture that the use of broadband internet lowers transaction costs and thereby inflation. Using a macroeconomic panel of OECD countries, it roughly confirms previous findings reported by Yi and Choi (2005) by addressing conceptual and econometric issues.
 
Online seit: 12.10.2016 0:00

Jörg Pätzold, Hannes Winner, Taking the High Road? Compliance with Commuter Tax Allowances and the Role of Evasion Spillovers

WIFO Working Papers, 2016, (526), 32 Seiten
This paper provides evidence of evasion in the context of a widely used commuter tax allowance, and explores evasion spillovers as a determinant of the individual compliance decision. For this purpose, we exploit discontinuities in the commuter allowance scheme and employ a research design resting on a large panel of individual tax returns. We find that around 30 percent of all allowance claims are overstated and, consistent with deliberate tax evasion, we observe sharp reactions of tax payers to thresholds where the allowance discretely jumps to a higher amount. Further, we use variation in job changes to uncover spillover effects from the work environment on the individual compliance decision. These effects appear to be asymmetric: job changers moving to companies with a higher fraction of cheaters increase their cheating. In contrast, movers to companies with a lower fraction of cheaters tend not to alter their reporting behaviour. We provide suggestive evidence that the spillover has more to do with an information environment, but can ultimately not reject other behavioural explanations such as asymmetric persistence of norms.
 
Online seit: 06.10.2016 0:00
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