TY - JOUR A1 - Algieri, Bernardina A1 - Kalkuhl, Matthias A1 - Koch, Nicolas T1 - A tale of two tails: Explaining extreme events in financialized agricultural markets JF - Food policy : economics planning and politics of food and agriculture N2 - The substantial booms and busts in agricultural prices marked by extreme events across commodities lead to heated debates about the effects of speculative trading on commodity price fluctuations. This study proposes a new approach to understanding extreme events and boom-bust processes in agricultural markets. Using weekly futures data for twelve indexed agricultural commodities during 2006 to 2016, we find that extreme price changes, located in the 10% tails of the distribution, cluster across agricultural markets. We then implement a multinomial logit model to investigate which factors are associated with the propagation of extreme events. Specifically, we disentangle three transmission conduits. (1) The macroeconomic conduit captures the possibility that the synchronized extreme price events are generated by business-cycle driven demand shifts mainly in emerging economies. (2) The financial conduit refers to potential links between extreme returns and the increasing flow of money from financial participants into agricultural futures markets. (3) Finally, the energy conduit accounts for possible spillover effects due to oil price shocks. Our results indicate an important role of managed money positions and oil prices while the real demand channel remains mostly insignificant. (C) 2017 Elsevier Ltd. All rights reserved. KW - Agricultural prices KW - Futures market KW - Tail events KW - GARCH analysis KW - Multinomial logit Y1 - 2017 U6 - https://doi.org/10.1016/j.foodpol.2017.05.004 SN - 0306-9192 SN - 1873-5657 VL - 69 SP - 256 EP - 269 PB - Elsevier CY - Oxford ER - TY - JOUR A1 - Bender, Benedict A1 - Teichmann, Malte A1 - Ullrich, Andre T1 - Mobile IIoT-Technologien als Erfolgsfaktor für Fertigung und Lernszenarien JF - Industrial Internet of Things in der Arbeits- und Betriebsorganisation Y1 - 2017 SN - 978-3-95545-225-4 SP - 235 EP - 257 PB - Gito CY - Berlin ER - TY - JOUR A1 - Bleyen, Pieter A1 - Klimovsky, Daniel A1 - Bouckaert, Geert A1 - Reichard, Christoph T1 - Linking budgeting to results? BT - Evidence about performance budgets in European municipalities based on a comparative analytical model JF - Public Management Review N2 - This article contributes to the debate on the incorporation of performance information in European local government budgets. At the core is the development of an analytical model for comparing efforts of performance budgeting (PB). Evidence in ten cases indicates that performance structures and the span of performance differ, that performance indicators are far from always measuring outcomes or outputs, and that future and past performance figures are often absent. Nevertheless similar learning trajectories do exist. Possible explanations for the variation involve the varying degrees of reform implementation, experience with PB and prevailing institutional arrangements. KW - Local government KW - performance budgeting KW - performance information Y1 - 2017 U6 - https://doi.org/10.1080/14719037.2016.1243837 SN - 1471-9037 SN - 1471-9045 VL - 19 IS - 7 SP - 932 EP - 953 PB - Routledge, Taylor & Francis Group CY - London ER - TY - JOUR A1 - Caliendo, Marco A1 - Künn, Steffen A1 - Mahlstedt, Robert T1 - The return to labor market mobility BT - an evaluation of relocation assistance for the unemployed JF - Journal of Public Economics N2 - In many European countries, labor markets are characterized by high regional disparities in terms of unemployment rates on the one hand and low geographical mobility among the unemployed on the other hand. In order to counteract the geographical mismatch of workers, the German active labor market policy offers a subsidy covering moving costs to incentivize unemployed job seekers to search/accept jobs in distant regions. Based on administrative data, this study provides the first empirical evidence on the impact of this subsidy on participants' prospective labor market outcomes. We use an instrumental variable approach to take endogenous selection based on observed and unobserved characteristics into account when estimating causal treatment effects. We find that unemployed job seekers who participate in the subsidy program and move to a distant region receive higher wages and find more stable jobs compared to non-participants. We show that the positive effects are (to a large extent) the consequence of a better job match due to the increased search radius of participants. KW - Evaluation KW - Active labor market policy KW - Labor market mobility KW - Instrumental variable approach Y1 - 2017 U6 - https://doi.org/10.1016/j.jpubeco.2017.02.008 SN - 0047-2727 VL - 148 SP - 136 EP - 151 PB - Elsevier CY - Lausanne ER - TY - JOUR A1 - Caliendo, Marco A1 - Mahlstedt, Robert A1 - Mitnik, Oscar A. T1 - Unobservable, but unimportant? The relevance of usually unobserved variables for the evaluation of labor market policies JF - Labour economics : an international journal KW - Matching KW - Unconfoundedness KW - Unobservables KW - Selection bias KW - Personality traits KW - Active labor market policy Y1 - 2017 U6 - https://doi.org/10.1016/j.labeco.2017.02.001 SN - 0927-5371 SN - 1879-1034 VL - 46 SP - 14 EP - 25 PB - Elsevier CY - Amsterdam ER - TY - JOUR A1 - Eggers, Fabian A1 - Lovelace, Kathi J. A1 - Kraft, Frederik T1 - Fostering creativity through critical thinking: The case of business start-up simulations JF - Creativity and innovation management N2 - Research suggests a positive link between critical thinking and creativity. However, this relationship has not been measured in an empirical study. This study aims to explore whether critical thinking can serve to enhance creativity and whether creativity positively mediates the relationship between critical thinking and business performance. In this study, we analyse these relationships within the entrepreneurial context of a web-based business start-up simulation. We examined data from 26 teams of three to four senior business students and found partial support for our hypotheses. Critical thinking positively influenced creativity, measured as the total number of unique product designs. Creativity (unique product designs) also positively mediated the link between critical thinking and performance. This effect, however, did not exist when creativity was assessed through advertisement designs. This research contributes to entrepreneurship and innovation management by demonstrating the importance of critical thinking as a basis for creativity and testing this relationship in a business start-up simulation context. Y1 - 2017 U6 - https://doi.org/10.1111/caim.12225 SN - 0963-1690 SN - 1467-8691 VL - 26 SP - 266 EP - 276 PB - Wiley CY - Hoboken ER - TY - JOUR A1 - Glaschke, Christian T1 - Auswahl und Einführung von ERP-Systemen JF - Die Rolle von ERP-Systemen im Zeitalter der Digitalisierung Y1 - 2017 SN - 978-3-95545-197-4 SP - 197 EP - 210 PB - Gito CY - Berlin ER - TY - JOUR A1 - Gronau, Norbert T1 - Trends in der ERP Branche JF - Die Rolle von ERP-Systemen im Zeitalter der Digitalisierung Y1 - 2017 SN - 978-3-95545-197-4 SP - 85 EP - 109 PB - Gito CY - Berlin ER - TY - JOUR A1 - Gronau, Norbert A1 - Ulrich, Andre A1 - Bender, Benedict T1 - Hybride Lernfabrik im Anwendungszentrum Industrie 4.0 JF - Industrial Internet of Things in der Arbeits- und Betriebsorganisation Y1 - 2017 SN - 978-3-95545-225-4 SP - 1 EP - 23 PB - Gito CY - Berlin ER - TY - JOUR A1 - Haile, Mekbib Gebretsadik A1 - Kalkuhl, Matthias A1 - Algieri, Bernardina A1 - Gebreselassie, Samuel T1 - Price shock transmission BT - evidence from the wheat-bread market value chain in Ethiopia JF - Agricultural economics N2 - This study assesses the degree of vertical price transmission along the wheat-bread value chain in Ethiopia. This is pursued by applying a vector error correction model and an impulse response analysis using monthly price data for the period 2000-2015. Our analysis considers transmission of price shocks across different market levels, including from the international and domestic wheat grain markets at the upstream to the domestic wheat bread market at the downstream of the value chain. The empirical findings indicate that significant cointegration exists across prices of the different market stages. There is a transmission from international prices to domestic prices at downstream markets, in particular to flour and bread prices. Prices at upstream markets are largely influenced by the domestic wholesale market. In general, the speed of adjustment is quite slow with a half-life of about one year for restoring the equilibrium price relationship. As price margins between the different market stages in the value chain have substantially decreased in the last 15 years, higher transmission, and thus exposure to international market shocks, can be expected in the future. The results also show that causal relationships exist between prices at different market stageswith the wholesale market identified as the key market level where prices and price expectations are formed. KW - Q02 KW - Q11 KW - Q13 KW - L11 KW - M31 KW - Value chain KW - Price transmission KW - Impulse response KW - Wheat KW - Ethiopia Y1 - 2017 U6 - https://doi.org/10.1111/agec.12373 SN - 0169-5150 SN - 1574-0862 VL - 48 IS - 6 SP - 769 EP - 780 PB - Wiley CY - Hoboken ER -