Displeasure at plurality and fear of strangers? An empirical study among youth in Germany and the Netherlands

A comparison between the Netherlands and Germany concerning religious, cultural and ethnic plurality provides interesting insights. Germany has never defined itself as a multicultural society, as was historically the case in the Netherlands. The outcomes of the research are somewhat surprising. Dutch pupils – especially boys – are more negative about plurality than their German contemporaries are. Belonging to a church in Germany appears to be connected to a positive attitude to migrants, while in the Netherlands this is not important at all.     

Organizational Factors Affecting Volunteers: A Literature Review on Volunteer Coordination

While volunteer literature presents diverse insights into the motives, personal dispositions, and sociodemographic characteristics of volunteers, researches comparatively seldom focus on the incentives and organizational context affecting volunteers. This review aims to shed light on the organizational factors affecting volunteers collectively and to discuss the coordination of volunteers. Systematic research of the literature revealed 386 publications that are relevant to volunteer coordination. Their abstracts were analyzed in a process of open and selective coding, which led to the identification of three main clusters. This literature review produced the following propositions: it is argued that the practices and instruments of volunteer management (Cluster 1), and, even more strongly, the organizational attitudes towards volunteers as well as the organizations’ embedded values (Cluster 2), co-determined by social processes (integration and production of meaning), are crucial factors affecting volunteers. The review also deals with structural features that limit the action space of volunteers and volunteer coordination (Cluster 3). It concludes by discussing the limitations present in the current volunteer research and provides implications for future research endeavors. Thus, this piece of work presents a holistic view on volunteer coordination and theory building by carefully synthesizing information about the organizational context of volunteering from different disciplines and research traditions, resulting in different intervention logics, and by integrating these data in an analytical framework.     

A comparison of Bayesian model selection based on MCMC with an application to GARCH-type models

This paper presents a comprehensive review and comparison of five computational methods for Bayesian model selection, based on MCMC simulations from posterior model parameter distributions. We apply these methods to a well-known and important class of models in financial time series analysis, namely GARCH and GARCH-t models for conditional return distributions (assuming normal and t-distributions). We compare their performance with the more common maximum likelihood-based model selection for simulated and real market data. All five MCMC methods proved reliable in the simulation study, although differing in their computational demands. Results on simulated data also show that for large degrees of freedom (where the t-distribution becomes more similar to a normal one), Bayesian model selection results in better decisions in favor of the true model than maximum likelihood. Results on market data show the instability of the harmonic mean estimator and reliability of the advanced model selection methods.     

Editorial

Ohne Zusammenfassung

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Editorial

     

Editorial

Ohne Zusammenfassung

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Editorial

     

Karl-Heinz Hillmann: Überlebensgesellschaft. Von der Endzeitgefahr zur Zukunftssicherung. Mit Beiträgen von Thomas Goppel und Hubert Weinzierl

Ohne Zusammenfassung     

Corporation taxes and the debt policy of multinational firms

This paper analyzes the impact of corporate taxes on the capital structure of foreign subsidiaries of multinational firms. The empirical investigation employs a large micro-level panel dataset of German multinationals covering 31 countries over a 10-year period. A special feature of this dataset is that it allows us to distinguish between internal and external debt financing. Our results confirm a positive effect of local tax rates on both types of debt. Moreover, while adverse local credit market conditions are found to reduce external borrowing, internal debt is increasing, supporting the view that the two channels of debt finance are substitutes. Our findings suggest that internal credit markets give rise to significant advantages and enhance multinationals?? opportunities to use debt as a tax shield.     

TECHNOLOGY ADOPTION,TURBULENCE, AND THE DYNAMICS OF UNEMPLOYMENT

Starting in the late 1970s, European unemployment began to increase while US unemployment remained constant. At the same time, capital‐embodied technical change began to accelerate, and the United States adopted the new capital much faster than Europe. I argue that these two facts are related. The main idea is that if there is capital‐embodied technical change, then the unemployment rate depends critically on how obsolete the installed capital stock is compared to the frontier. In particular, European workers initially worked with relatively obsolete capital, and so they lacked the skills required to work with frontier capital. When they lost their jobs they therefore stayed unemployed for longer than their American counterparts. I find that this channel accounts for about 70% of the discrepancy between the behavior of unemployment rates in Europe and the United States.