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Original Articles Gabe Jacob de Bondt and Stanimira Vasileva Kosekova: Euro Area Growth Signals from Industrial Production: Warnings from a Comparison of Gross Value Added and Production JBNST - Vol. 238/6 - 2018, pp. 477-500.
+ show abstract- hide abstractThis study compares industrial production and gross value added in
volume terms in the euro area and euro area countries, because real GDP
growth signals from industrial production growth might be misleading and
earlier released industrial production growth is not one-to-one translated into
industrial value added growth. This is an important issue for analysts and
policy makers, because industrial production is a standard element in tools for
nowcasting real GDP in real time. It also raises the question about the factors
explaining these differences. Differences in terms of (changes in) quarterly
growth between production and gross value added include sign reversals and
can last for consecutive quarters. Persistent level differences might also exist.
The explanatory factors for these differences are the treatment of prices,
seasonality and coverage. Data limitations prevent a detailed analysis of the
price factor, but the other two factors are more closely evaluated. It turns out
that the relative importance of these factors varies over time and thus is
difficult to assess ex ante for a specific quarter. A remedy is that statisticians
further harmonize national accounts and short-term statistics as well as
national practices for seasonal adjustment. Sören Gröbel and Dorothee Ihle: Saving Behavior and Housing Wealth Evidence from German Micro Data JBNST - Vol. 238/6 - 2018, pp. 501-540.
+ show abstract- hide abstractHousing property is the most important position in a household’s
wealth portfolio. Even though there is strong evidence that house price cycles
and saving patterns behave synchronously, the underlying causes remain controversial. The present paper examines if there is a wealth effect of house prices on
savings using household-level panel data from the German Socio-Economic Panel
for the period 1996-2012. We find that young homeowners decrease their savings
in response to unanticipated house price shocks, whereas old households hardly
respond to house price changes. Although effects are relatively low in magnitude,
we interpret this as evidence of a housing wealth effect. Ivan Savin, Dmitri Blueschke and Viktoria Blueschke-Nikolaeva: Slow and Steady Wins the Race: Approximating Nash Equilibria in Nonlinear Quadratic Tracking Games JBNST - Vol. 238/6 - 2018, pp. 541-570.
+ show abstract- hide abstractWe propose a new method for solving nonlinear dynamic tracking
games using a meta-heuristic approach. In contrast to ‘traditional’ methods
based on linear-quadratic (LQ) techniques, this derivative-free method is very
flexible with regard to the objective function specification. The proposed method
is applied to a three-player dynamic game and tested versus a derivativedependent method in approximating solutions of different game specifications.
In particular, we consider a dynamic game between fiscal (played by national
governments) and monetary policy (played by a central bank) in a monetary
union. Apart from replicating results of the LQ-based techniques in a standard
setting, we solve two ‘non-standard’ extensions of this game (dealing with
an inequality constraint in a control variable and introducing asymmetry in
penalties of the objective function), identifying both a cooperative Pareto and a
non-cooperative open-loop Nash equilibria, where the traditional methods are
not applicable. We, thus, demonstrate that the proposed method allows one to
study more realistic problems and gain better insights for economic policy.
Under Debate Mathias Bug, Stefan Liebig, Claudia Oellers und Regina T. Riphahn: Operative und strategische Elemente einer leistungsfähigen Forschungsdateninfrastruktur in den Sozial- und Wirtschaftswissenschaften JBNST - Vol. 238/6 - 2018, pp. 571-590.
+ show abstract- hide abstractDieser Beitrag skizziert vor dem Hintergrund der Diskussionen um den
Aufbau einer nationalen Forschungsdateninfrastruktur (NFDI) in Deutschland die
Arbeitsweise und Merkmale des Rats für Sozial- und Wirtschaftsdaten (RatSWD). Im
Mittelpunkt stehen die zwei zentralen Merkmale des RatSWD als unabhängiges
Beratungsgremium von Datenproduzenten und wissenschaftlichen Datennutzenden einerseits und als organisatorischer Rahmen für ein dezentrales Netzwerk aus
derzeit 31 akkreditierten Forschungsdatenzentren (FDZ) andererseits. Der RatSWD
bildet damit den Rahmen für eine nutzergetriebene, nach außen sprechfähige und
leistungsfähige, koordinierte Forschungsdateninfrastruktur in den Sozial-, Verhaltens- und Wirtschaftswissenschaften.
Die Forschungsdateninfrastruktur der Sozial-, Verhaltens- und Wirtschaftswissenschaften ist als bundesweites, verteiltes und wachsendes Netzwerk arbeitsteilig
angelegt. Das Netzwerk koordiniert disziplinübergreifend die Archivierung und
Bereitstellung einer Vielfalt von Forschungsdaten, befördert institutionellen
Wissensaustausch und erarbeitet gemeinsame Standards. Der RatSWD widmet sich
der Öffnung von weiteren Datenschätzen aus Verwaltung, Forschung und Wirtschaft
für die unabhängige Wissenschaft und entwickelt übergeordnete Standards zu Themen wie Datenschutz, Forschungsethik und nachhaltiger Förderpolitik. Den empirisch Forschenden stehen dadurch eine Interessenvertretung nach außen sowie ein
stetig wachsendes Angebot an qualitativ hochwertigen Datensätzen zur Verfügung.
Data Observer Lea Eilers and Adam Pilny: Data from a Randomized Experiment: Financial Incentives on Weight Loss (RWI-Obesity) JBNST - Vol. 238/6 - 2018, pp. 591-600.
Christian Warnecke: New Survey Data on the Role of Universities in the German Regional Innovation System JBNST - Vol. 238/6 - 2018, pp. 601-609.
Philipp Breidenbach and Lea Eilers: RWI-GEO-GRID: Socio-economic data on grid level JBNST - Vol. 238/6 - 2018, pp. 609-616.
Book Review Bertram Schefold: Georg Quaas: Die Ökonomische Theorie von Karl Marx JBNST - Vol. 238/6 - 2018, pp. 617-620.
Annual Reviewer Acknowledgement Peter Winker: Annual Reviewer Acknowledgement JBNST - Vol. 238/6 - 2018, pp. 621-623.
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