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    <title>EconStor Community: Eberhard Karls Universität Tübingen</title>
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      <title>Monetary policy and hysteresis in potential output</title>
      <link>http://hdl.handle.net/10419/73666</link>
      <description>Title: Monetary policy and hysteresis in potential output
&lt;br/&gt;
&lt;br/&gt;Authors: Kienzler, Daniel; Schmid, Kai Daniel
&lt;br/&gt;
&lt;br/&gt;Abstract: We show that actively stabilizing economic activity plays a more prominent role in the conduct of monetary policy when potential output is subject to hysteresis. We augment a basic New Keynesian model by hysteresis in potential output and contrast simulation outcomes of this extended model to the standard model. We find that considering hysteresis allows for a more realistic propagation of macroeconomic shocks and persistent movements in output after monetary shocks. Our central policy implication of active output gap stabilization arises from stability analyses and welfare considerations.</description>
      <pubDate>Mon, 29 Oct 2012 22:58:59 GMT</pubDate>
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      <title>The evolution and sustainability of seasonal migration from Poland to Germany: From the dusk of the 19th century to the dawn of the 21st century</title>
      <link>http://hdl.handle.net/10419/73665</link>
      <description>Title: The evolution and sustainability of seasonal migration from Poland to Germany: From the dusk of the 19th century to the dawn of the 21st century
&lt;br/&gt;
&lt;br/&gt;Authors: Kepinska, Ewa; Stark, Oded
&lt;br/&gt;
&lt;br/&gt;Abstract: We document and suggest a rationale for the durability of seasonal migration from Poland to Germany, a phenomenon persisting for more than a century. We refer to the role of the tradition of engaging in seasonal migration as a force that helped invigorate the process and contribute to its sustainability even when, to different degrees and at different times, the process was interrupted by a shifting political, regulatory, and legal environment. Evidence in support of the role of tradition is provided, among other things, by the continuation of the seasonal flow of migrants from once border regions - which became internal regions following WWII, despite the fact that since the redrawing of the German-Polish border, proximity is no longer a factor encouraging repeated, short-term seasonal moves.</description>
      <pubDate>Mon, 29 Oct 2012 22:58:59 GMT</pubDate>
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      <title>The market effects of the German two-tier enforcement of financial reporting</title>
      <link>http://hdl.handle.net/10419/73653</link>
      <description>Title: The market effects of the German two-tier enforcement of financial reporting
&lt;br/&gt;
&lt;br/&gt;Authors: Hecker, Renate; Wild, Andreas
&lt;br/&gt;
&lt;br/&gt;Abstract: This study contributes to the literature by analyzing the potential market penalties due to financial reporting violations detected by the German enforcement regime. Event study results provide evidence that official error announcements lead to significant negative (cumulative) abnormal returns. Investigating the variation between the cumulative abnormal returns, the cross-sectional analysis indicates that companies are able to dilute the (negative) capital market reaction by releasing other (positive) information simultaneously. The negative stock market reaction is less pronounced for profit-decreasing errors. The cumulative abnormal returns are more negative for companies that have been listed for a longer period of time.</description>
      <pubDate>Sat, 29 Oct 2011 22:58:59 GMT</pubDate>
    </item>
    <item>
      <title>Die Bedeutung multinationaler Netzwerke für Migration</title>
      <link>http://hdl.handle.net/10419/73652</link>
      <description>Title: Die Bedeutung multinationaler Netzwerke für Migration
&lt;br/&gt;
&lt;br/&gt;Authors: Neubecker, Nina; Smolka, Marcel
&lt;br/&gt;
&lt;br/&gt;Abstract: Der Migrationsstrom eines Landes in ein anderes Land hängt positiv von den bereits vor Ort befindlichen Migranten gleicher Nationalität (bzw. gleicher Herkunft) ab. Dieser Effekt wird in der Literatur häufig als Netzwerkeffekt bezeichnet. Wir zeigen in diesem Beitrag anhand der Migration nach Spanien im Zeitraum 1997-2006, dass der Migrationsstrom eines Landes in ein anderes Land auch positiv von den bereits vor Ort befindlichen Migranten anderer Nationalitäten abhängt, nämlich von den Migranten, die aus zu dem Herkunftsland angrenzenden Ländern stammen. Wir sprechen in diesem Zusammenhang von einem multinationalen Netzwerk.</description>
      <pubDate>Mon, 29 Oct 2012 22:58:59 GMT</pubDate>
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