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  <title>EconStor Collection:</title>
  <link rel="alternate" href="https://hdl.handle.net/10419/41409" />
  <subtitle />
  <id>https://hdl.handle.net/10419/41409</id>
  <updated>2026-04-29T17:43:39Z</updated>
  <dc:date>2026-04-29T17:43:39Z</dc:date>
  <entry>
    <title>Central bank digital currency as a new means of payment: An experimental approach</title>
    <link rel="alternate" href="https://hdl.handle.net/10419/339605" />
    <author>
      <name>Magin, Jana Anjali</name>
    </author>
    <author>
      <name>Neyer, Ulrike</name>
    </author>
    <author>
      <name>Stevens, Alexandra</name>
    </author>
    <id>https://hdl.handle.net/10419/339605</id>
    <updated>2026-04-04T02:06:31Z</updated>
    <published>2026-01-01T00:00:00Z</published>
    <summary type="text">Title: Central bank digital currency as a new means of payment: An experimental approach
Authors: Magin, Jana Anjali; Neyer, Ulrike; Stevens, Alexandra
Abstract: Many Central banks around the world are considering the introduction of a Central Bank Digital Currency (CBDC) as a new means of payment. One of the reasons for introducing a CBDC is a change in payment behavior towards an increasing use of electronic forms of payment. This paper examines the introduction of a CBDC as a new means of payment. We conduct a controlled laboratory experiment to assess how adoption costs and anonymity affect the demand for CBDC compared to established means of payment such as cash and deposits. We use a 2x2 treatment design in which CBDCs differ in adoption costs and anonymity. We find that adoption costs play an important role in the decision to use CBDC as a new means of payment and that anonymity plays a role in the allocation of experimental money between different means of payment.</summary>
    <dc:date>2026-01-01T00:00:00Z</dc:date>
  </entry>
  <entry>
    <title>Energy markets at war: The effect of the Russian invasion of Ukraine on refinery margins</title>
    <link rel="alternate" href="https://hdl.handle.net/10419/339575" />
    <author>
      <name>Gregor, Leonard</name>
    </author>
    <author>
      <name>Haucap, Justus</name>
    </author>
    <id>https://hdl.handle.net/10419/339575</id>
    <updated>2026-04-04T02:06:35Z</updated>
    <published>2026-01-01T00:00:00Z</published>
    <summary type="text">Title: Energy markets at war: The effect of the Russian invasion of Ukraine on refinery margins
Authors: Gregor, Leonard; Haucap, Justus
Abstract: This paper evaluates the effect of the Russian invasion of Ukraine in February 2022 on refinery margins, i.e. the difference between wholesale prices for road fuels (gasoline and diesel) and oil prices in Europe and Germany in particular. Following the Russian invasion of Ukraine, wholesale road fuel prices net of taxes rose by more than 50 cents per liter, whereas crude oil prices increased by only about 30 cents per liter. Using a difference-in-differences framework, we compare refinery margins in Germany with those on the Amsterdam-Rotterdam-Antwerp (ARA) spot market, which serves as a European benchmark price. The results indicate that refinery margins in Germany increased by approximately 5-6 cents per liter relative to the ARA region after the invasion. We attribute this differential primarily to Germany's strong dependence on Russian Ural crude oil imports and to the presence of regional market power among German refineries. We further document substantial heterogeneity in treatment effects across both time and regions. In addition, the invasion was associated with a significant decline in fuel demand, with gasoline consumption falling by about 13% and diesel consumption by approximately 9%.</summary>
    <dc:date>2026-01-01T00:00:00Z</dc:date>
  </entry>
  <entry>
    <title>When immigrants meet exporters: A reassessment of the migrant-native wage gap</title>
    <link rel="alternate" href="https://hdl.handle.net/10419/316450" />
    <author>
      <name>Marchal, Léa</name>
    </author>
    <author>
      <name>Ourens, Guzmán</name>
    </author>
    <author>
      <name>Sabbadini, Giulia</name>
    </author>
    <id>https://hdl.handle.net/10419/316450</id>
    <updated>2025-05-10T02:10:08Z</updated>
    <published>2025-01-01T00:00:00Z</published>
    <summary type="text">Title: When immigrants meet exporters: A reassessment of the migrant-native wage gap
Authors: Marchal, Léa; Ourens, Guzmán; Sabbadini, Giulia
Abstract: We show that high-skilled immigrants earn higher wages than comparable natives in exporting firms, while low-skilled immigrants do not. Using matched employer-employee and customs data from Portugal, we document a reversal of the migrant-native wage gap among high-skilled workers in exporting firms. We develop a model with heterogeneous firms and directed search, in which high-skilled immigrants lower export costs through destination-specific knowledge. The model yields an information premium that explains the wage gap reversal. We provide evidence consistent with this mechanism using information on the origin country of the workers and the destination country of the firm's exports. Our results identify a novel channel through which trade reduces wage inequality conditional on the skill level and origin country of the employees, and provide new micro-level evidence on the role of workers in shaping firm-level internationalisation.</summary>
    <dc:date>2025-01-01T00:00:00Z</dc:date>
  </entry>
  <entry>
    <title>The right timing matters: Sensitive periods in the formation of socio-emotional skills</title>
    <link rel="alternate" href="https://hdl.handle.net/10419/319881" />
    <author>
      <name>Breitkopf, Laura</name>
    </author>
    <author>
      <name>Chowdhury, Shyamal K.</name>
    </author>
    <author>
      <name>Kamhöfer, Daniel A.</name>
    </author>
    <author>
      <name>Schildberg-Hörisch, Hannah</name>
    </author>
    <author>
      <name>Sutter, Matthias</name>
    </author>
    <id>https://hdl.handle.net/10419/319881</id>
    <updated>2025-06-28T01:59:04Z</updated>
    <published>2025-01-01T00:00:00Z</published>
    <summary type="text">Title: The right timing matters: Sensitive periods in the formation of socio-emotional skills
Authors: Breitkopf, Laura; Chowdhury, Shyamal K.; Kamhöfer, Daniel A.; Schildberg-Hörisch, Hannah; Sutter, Matthias
Abstract: Identifying sensitive periods in which the returns to investments into skills are especially high is challenging, but crucial for an effective and efficient timing of parental or public investments aimed at fostering children's skills. We can detect sensitive periods with a novel design by implementing the same investment in different school grades and examining grade-specific treatment effects. Based on a randomized controlled trial with more than 3,200 Bangladeshi children in grades 2 to 5, we find sensitive periods in the formation of self-control and patience in grade 2 (age 7-8), while prosociality remains similarly malleable throughout grades 2 to 5 (age 7-11).</summary>
    <dc:date>2025-01-01T00:00:00Z</dc:date>
  </entry>
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